# 9 River Street, Saranac Lake, NY 12983

> **TL;DR:** multi-family, $1,200,000 ($176/sqft), built 1880, 6,811 sqft.
> View, Hardwood. Est. $5,200/mo. Listed 30 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $1,200,000 |
| Price/sqft | $176 |
| Square Feet | 6,811 |
| Year Built | 1880 |
| Lot Size | 11,761 sqft (0.27 acres) |
| Property Type | Multi-Family (Apartment) |
| Status | For Sale |
| Days on Market | 30 |

## Why This Home Stands Out

- **Views** - Park
- **Hardwood Floors** - Throughout the home

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $5,200 |
| **Total** | **$5,200** |

## Key Amenities

- View
- Hardwood

## Property Highlights

- Built in 1880
- 0.27 acre lot

## Description

### Agent Description
Situated directly across from Lake Flower and Riverside Park, this 9-unit multifamily delivers immediate cash flow with significant upside. Current gross income is $11,920/month with rents running below market. The next owner inherits a stabilized asset and a clear path to forced appreciation. Unit 1 was recently renovated, establishing a proven value-add template for the portfolio. Units 5 and 7 offer private shared balcony access with stunning lake and mountain views. Unit 7, the owner's suite, features 3 beds, 2 baths, a Jacuzzi tub, skylights, wood stove fireplace, custom kitchen, and in-unit laundry. Most tenants cover their own utilities, keeping operating expenses lean and boosting net returns. Coin-operated basement laundry generates additional ancillary income. An on-site property manager resides in the building at reduced rent. Extensive foundation work was completed by the prior owner, reducing near-term capital risk. Riverside Park steps from the front door hosts free live music and a weekly farmers market during the warmer months adding genuine lifestyle value that supports tenant retention and attracts quality renters. Four-season tourism demand, protected land supply, a tight rental market, and a high cap rate make this a compelling long-term hold.

## Location

- **Address:** 9 River Street, Saranac Lake, NY 12983
- **County:** Franklin
- **Coordinates:** 44.32525, -74.131153
- **Google Maps:** https://www.google.com/maps?q=44.32525,-74.131153

## Listing Agent

- **Name:** Chase Jermano
- **Brokerage:** Tina Leonard Real Estate, LLC
- **Phone:** 5186375272
- **Email:** chasejrealestate@gmail.com

## Primary Photo

![9 River Street - Primary Photo](http://lh.rdcpix.com/dcc9b685b9d0ee989f92ae205a22b08cl-f1203240819r.jpg)

*48 total photos available on [listing page](https://www.propertysimple.com/listing/9-river-street-saranac-lake-ny-12983-y207101)*

---

**MLS#:** 207101 | **Updated:** 2026-06-18
**Source:** listhub

*Copyright © 2026 Adirondack Champlain Valley MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/9-river-street-saranac-lake-ny-12983-y207101)

---

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  "description": "Situated directly across from Lake Flower and Riverside Park, this 9-unit multifamily delivers immediate cash flow with significant upside. Current gross income is $11,920/month with rents running below market. The next owner inherits a stabilized asset and a clear path to forced appreciation. Unit 1 was recently renovated, establishing a proven value-add template for the portfolio. Units 5 and 7 offer private shared balcony access with stunning lake and mountain views. Unit 7, the owner's suite",
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