Prime turnkey multifamily investment at 58 Lincoln Avenue, Saratoga Springs, NY 12866 - just steps from Broadway, SPAC, and the iconic Saratoga Race Track. This 5-unit property (built 1900, fully revitalized top-to-bottom in the past 2 years) delivers immediate, hassle-free cash flow with 100% occupancy and no deferred maintenance. Ideal… Read More for 1031 exchange investors or local portfolio builders seeking rock-solid, low-operational-demand ownership in one of New York's most resilient markets. Key Highlights: Stabilized Income: Current monthly gross rents $9,750. Normalized annual operating income: $118,200. Strong NOI: Annualized Net Operating Income $91,571. Recent Renovations (Past 2 Years): New roof, siding, parking lot/driveway, landscaping, HVAC systems, electrical/plumbing/lighting fixtures, refinished hardwood floors, fresh paint, all-new kitchens (quartz counters, stainless appliances, cabinets), all-new bathrooms (tile, vanities, fixtures), in-unit laundry, and more - literally everything updated for modern, worry-free operation. Unit Mix: Mix of 2-bed/1-2 bath and studio units with in-unit laundry and off-street parking - high tenant appeal in a tourism/healthcare/tech-driven area. Market Strength: Saratoga Springs enjoys steady rent growth, low multifamily vacancies (regional ~2-5%), and strong demand from seasonal events, downtown vibrancy, and Capital Region job growth. https://turnkey58lincoln.lovable.app Read Less
Courtesy of Brian Green (518-810-2895), eXp Realty.
Listing Snapshot
Days Online
0
Last Updated
Property Type
Multi Family
Beds
8
Full Baths
6
Partial Baths
1
Lot Size
0.15 Acres
Year Built
1900
MLS Number
202611669
30 Days Snapshot Of 12866
$913k
+5%
(avg) sold price
35
+12%
homes sold
149
-3%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
Basement: "Unfinished"
Building
Architectural Style: "Apartment 4 Plus Unit", Construction Materials: "Vinyl Siding", Living Area: 3,549, Number Of Units Total: 5, Year Built: 1900
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