403 Walnut St, Elmira, NY 14901

Description

Turnkey 3-Unit Investment Property with Strong Updates, Parking, Garage & Expansion Potential

Excellent opportunity to own a well-maintained and substantially updated 3-unit multifamily property in Elmira, NY. This income-producing asset offers strong rental history, major capital improvements, and additional upside potential with ample parking, garage space, and room for future development.

The property currently generates $2,850/month in rental income with no delinquency issues, providing immediate cash flow for an investor or owner-operator.

Major improvements include:

• New roof installed July 2024

• Most windows replaced

• All work fully permitted

• Significant electrical and plumbing upgrades

• Two apartments completely renovated down to the studs

One of the standout features is a massive nearly 1,000 square foot efficiency apartment converted from a former yoga studio, offering an open-concept layout with unique character and flexibility.

Additional highlights include:

• Large parking lot with abundant off-street parking

• Detached garage

• Coin-operated laundry room for additional income

• Two units with separated utilities

• Space and potential for future expansion or additional development

• Strong tenant payment history

This property combines stability, modernized systems, and future upside — ideal for investors looking for a solid multifamily asset with value-add potential already built into the site.

Whether you are expanding your portfolio or looking for a property with long-term appreciation potential, 403 Walnut Street offers a compelling mix of cash flow, updates, and opportunity.