406 Dewitt Avenue, Elmira, NY 14901
Local realty services provided by:ERA Team VP Real Estate
406 Dewitt Avenue,Elmira, NY 14901
$149,900
- 5 Beds
- 4 Baths
- 2,452 sq. ft.
- Multi-family
- Active
Listed by: nicholas magera
Office: howard hanna horseheads
MLS#:R1687931
Source:NY_GENRIS
Price summary
- Price:$149,900
- Price per sq. ft.:$61.13
About this home
Potential for $3,800 per month gross rents!
Excellent opportunity to acquire a well-maintained mixed-use 4-unit property in Elmira featuring three residential apartments and one commercial space. The building has been recently updated with modern flooring, refreshed interiors, and overall well-maintained units, making it ideal for both seasoned investors and owner-operators.
The residential portion consists of one 1-bedroom apartment renting for $900/month (utilities included except garbage), one 2-bedroom/1-bath apartment renting for $1,200/month (utilities included except garbage), and one 2-bedroom/1-bath apartment renting for $900/month plus gas and garbage. One unit features a beautifully tiled shower and updated bathroom finishes. All residential tenants are currently on month-to-month leases, providing flexibility for future rent adjustments or owner occupancy.
The commercial space, previously rented for $800/month (utilities included except garbage), is currently vacant and used for storage, offering immediate upside potential through lease-up. Once the commercial space is re-rented, the projected gross rent roll would be just under $4,000 per month, with additional room to increase rents over time given the updated condition of the units and strong demand for quality rentals in the area.
This property offers a strong mix of residential stability and commercial income potential, with updated interiors and minimal deferred maintenance. Ideal opportunity to increase cash flow through lease-up of the commercial space and optimization of rents over time.
Don’t miss this chance to add a versatile mixed-use asset to your portfolio in a steadily improving rental market. Building being sold as-is...
Contact an agent
Home facts
- Year built:1910
- Listing ID #:R1687931
- Added:1 day(s) ago
- Updated:June 05, 2026 at 08:12 PM
Rooms and interior
- Bedrooms:5
- Total bathrooms:4
- Full bathrooms:3
- Half bathrooms:1
- Basement:Yes
- Basement Description:Full
- Living area:2,452 sq. ft.
Heating and cooling
- Heating:Forced Air, Gas, Wall Furnace
Structure and exterior
- Year built:1910
- Building area:2,452 sq. ft.
- Lot area:0.11 Acres
- Lot Features:Rectangular
- Construction Materials:Composite Siding
- Levels:2 Stories
Utilities
- Water:Connected, Public, Water Connected
- Sewer:Connected, Sewer Connected
Finances and disclosures
- Price:$149,900
- Price per sq. ft.:$61.13
- Tax amount:$2,520
Parking
- Garage:Yes
- Garage spaces:2
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