301 Grove Street, Elmira-City, 14905
ML Number: R1719734
List Price: $89,900
Description
Exceptional Redevelopment Opportunity | Former Assisted Living Facility | 20+ Unit Potential! 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.
Aerial View of this Location
| Property Type: | Multi-Family Res (2-4) units |
|---|---|
| Bedrooms: | 20 |
| Full Bath(s): | 2 |
| Half Bath(s): | 1 |
| Living Area (SqFt): | 8,152 |
| Lot Size (Acres): | 0.4924 |
| Year Built: | 1975 |
| Address: | 301 Grove Street |
|---|---|
| City: | Elmira-City |
| County: | Chemung |
| State: | NY |
| Zip Code: | 14905 |
| School District: | Elmira |
| List Price: | $89,900 |
|---|---|
| Assessed Value: | $0 |
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Property Features
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| On Waterfront: | No |
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| # Fireplaces: | 0 |
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Listing courtesy of Renowned Realty,LLC.
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