UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,152 sqft
Price per Sqft $11
MLS Listing ID R1719734
Bedrooms 20
Full Baths 2
Half Baths 1
Construction Status Existing
HOA Y/N No
Year Built 1975
Annual Tax Amount $6,458
Lot Size 0.492 Acres
Acres 0.4924
Lot Dimensions 150X143
Property Sub-Type Multi Family
Property Description
Investors, developers, and visionaries—this is the opportunity you've been waiting for!
Formerly operated as an assisted living/adult home, 301 Grove offers an enormous amount of space and virtually unlimited redevelopment potential. The property has the size, layout, and location to accommodate a variety of investment concepts, with the potential for 20+ residential units depending on the final design.
Located just minutes from Elmira College, the property is ideally positioned for an investor looking to capitalize on the demand for housing in a convenient location. 8,152 square feet of building area, with the property historically operating as an adult/assisted-living facility.
This is not a turnkey property. The building requires extensive renovation and will be best suited for an investor, contractor, or developer who can see beyond its current condition and is willing to put in the work. With the right vision and a substantial amount of sweat equity, the possibilities are extensive.
Potential uses may include:
* Conversion to multiple residential apartments
* Student housing
* Multifamily redevelopment
* Senior or supportive housing
* Other residential concepts
* Owner-occupied/investor combination projects
The existing configuration offers a substantial amount of space to work with, and the bedroom and bathroom counts should be considered approximate and subject to buyer verification.
If you're looking for a large-scale value-add project where you can create significant value through renovation and redevelopment, 301 Grove Street deserves a serious look.
Bring your contractor, architect, and imagination. The opportunity is here—the next chapter is up to you.
Property is being sold in its present condition. Buyer to conduct their own due diligence regarding zoning, permitted uses, building requirements, utilities, unit count, square footage, and all necessary approvals.
Location
State NY
County Chemung
Area Elmira-City-070400
Rooms
Basement Dirt Floor
Interior
Interior Features Attic
Heating Gas, Other, See Remarks
Cooling Other, See Remarks
Flooring Hardwood, Varies
Fireplace No
Appliance Gas Water Heater
Exterior
Garage Spaces 2.0
Utilities Available Sewer Connected, Water Connected
Garage Yes
Building
Lot Description Corner Lot, Rectangular, Rectangular Lot
Story 3
Sewer Connected
Water Connected, Public
Structure Type Stucco
Construction Status Existing
Schools
School District Elmira
Others
Senior Community No
Tax ID 070400-089-018-0002-018-000-0000
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
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