A Large-Scale Redevelopment Opportunity With Space to Reimagine
Located in Elmira, New York, this substantial multifamily property offers an opportunity for investors, contractors, and developers looking for a major renovation project. Formerly operated as an assisted living or adult care facility, the building features approximately 8,152 square feet of interior space across three stories, creating a foundation for a variety of potential redevelopment plans.
Built in 1975, the property is listed with 20 bedrooms and 2.5 bathrooms, although these figures should be verified by prospective buyers. Situated on approximately 0.49 acres, the building also features a corner-lot location, a stucco exterior, an attic, and two garage spaces. Public water and connected sewer service are listed among the property’s utilities.
The property’s substantial size may offer possibilities for conversion into multiple apartments, student housing, senior or supportive housing, or another residential concept. Its location just minutes from Elmira College may also be worth exploring for buyers considering housing-related investment opportunities.
This is not a move-in-ready property. Extensive renovations are needed, and any proposed conversion will depend on zoning, building codes, utility capacity, occupancy requirements, and the necessary permits and approvals. Buyers should conduct thorough due diligence and consult qualified professionals before estimating renovation costs or projecting future income. The listing indicates that the property is being sold in its present condition with cash terms.
For investors willing to take on a significant rehabilitation project, this property presents a chance to evaluate a large building with multiple potential future uses. Its existing size and layout provide plenty to assess for those prepared to develop a detailed renovation plan.
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