1. New York
2. Sullivan
3. 2369 State Route 5

2369 State Route 5, Sullivan, NY 13037

• 8 beds
• 8,618 sqft

Property Description

Former Motel Turned 9-Unit Apartment Complex – Value-Add Opportunity! Now offered for sale, this former roadside motel has been converted into a 9-unit apartment building, primarily consisting of one-bedroom units. Situated on a spacious lot with 20+ parking spaces, this property is serviced by well and septic, minimizing utility expenses and infrastructure costs. All units are heated by baseboard boiler. There are two gas boilers which the landlord pays for and the property has upgraded electrical which the landlord also pays for. There are new coin-operated laundry machines which brings in about $140 additional income per month. The property offers a prime opportunity for investors to reposition and increase income even higher. With the right upgrades, there’s significant upside potential through improved rents to market rate. With lots of drive-by traffic, occupancy has been at 100% year after year minimizing turnover as all of the same tenants have been at this property for 5+ years. Located in a rural yet accessible area, this property is ideal for investors looking to bring an additional asset into their portfolio at a fraction of the cost of anything else on the market!

Listing Status:

Active

Date Added:

July 14, 2025 at 05:00AM

Listing Office:

Hunt Real Estate ERA : 315-682-7197

Listing Agent:

Dante Belmonte : 315-446-4681

MLS ID:

S1622054

Interior

• Appliances: Electric OvenElectric RangeElectric Water HeaterRefrigerator
• Basement: Full
• Flooring: CarpetLuxury VinylVaries
• Heating: GasBaseboard
• Fireplace: Fireplaces: 0

Exterior

Construction

Location

Lot

Utilities

Financial

This listing courtesy of Dante Belmonte, Hunt Real Estate ERA