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Deb Lennon

deb.lennon@engelvoelkers.com +1(518) 524-4388

$ 349,900

Est. payment -/mo

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Active

39 Shepard AVE Saranac Lake, NY 12983

2,730 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,730 sqft

Price per Sqft $128

MLS Listing ID 207156

Style Old Style

Construction Status Updated/Remodeled

Year Built 1920

Annual Tax Amount $5,439

Property Sub-Type Triplex

Source Adirondack-Champlain Valley MLS

Property Description

Prime Income-Producing Triplex in the Heart of Saranac Lake - Live in One, Rent the Rest! Discover an outstanding investment opportunity in the desirable village of Saranac Lake, nestled in New York's stunning Adirondack Mountains. This well-maintained three-unit property features two spacious 2-bedroom apartments and one generous 3-bedroom apartment, offering excellent flexibility for owner-occupants or pure investors. Live mortgage-free (or nearly so) by occupying one unit while the other two generate strong rental income. Whether you're looking for a turnkey cash-flowing investment, a house hack, or long-term appreciation in a growing market, this triplex delivers multiple paths to success. The units have all been thoughtfully renovated since 2017, providing modern, attractive living spaces that appeal to quality tenants and support higher rents in this tight rental market. Recent major upgrades are a new roof installed in 2024. The exterior was painted in 2025. Saranac Lake offers a rare blend of small-town charm, vibrant downtown culture, and endless outdoor recreation. Residents and tenants enjoy easy access to hiking, paddling on the Saranac Chain of Lakes, the Adirondack Rail Trail, arts festivals, local shops, restaurants, and the year-round appeal of the High Peaks region (just minutes from Lake Placid). Strong demand for both long-term rentals and short-term stays makes this a versatile asset in a location known for its natural beauty and quality of life. Don't miss this chance to own a solid, income-generating multifamily property with recent updates in one of the Adirondacks' most appealing villages. Schedule a showing today and explore the potential for immediate income and long-term growth!

Location

State NY

County Essex

Direction From River St. turn onto Shepard and the property is on the left.

Rooms

Basement Apartment, Walk-Out Access

Interior

Heating Baseboard, Hot Water, Oil

Laundry Inside, Multiple Locations

Exterior

Utilities Available Internet Available, Sewer Connected, Water Connected

Roof Type Asphalt

Garage No

Building

Story Tri-Level

Sewer Public Sewer

Water Public

Architectural Style Old Style

New Construction No

Construction Status Updated/Remodeled

Schools

School District Saranac Lake

Others

Senior Community No

Tax ID 447.78-4-10

Listed by Matthew Szeliga • Mountain Run Realty

NEARBY SCHOOLS & PROPERTIES

Deb Lennon

Advisor | License ID: 10401341818

+1(518) 524-4388

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