9 River St
Listing Notes
Situated directly across from Lake Flower and Riverside Park, this 9-unit multifamily delivers immediate cash flow with significant upside. Current gross income is $11,920/month with rents running below market. The next owner inherits a stabilized asset and a clear path to forced appreciation. Unit 1 was recently renovated, establishing a proven value-add template for the portfolio. Units 5 and 7 offer private shared balcony access with stunning lake and mountain views. Unit 7, the owner's suite, features 3 beds, 2 baths, a Jacuzzi tub, skylights, wood stove fireplace, custom kitchen, and in-unit laundry. Most tenants cover their own utilities, keeping operating expenses lean and boosting net returns. Coin-operated basement laundry generates additional ancillary income. An on-site property manager resides in the building at reduced rent. Extensive foundation work was completed by the prior owner, reducing near-term capital risk. Riverside Park steps from the front door hosts free live music and a weekly farmers market during the warmer months adding genuine lifestyle value that supports tenant retention and attracts quality renters. Four-season tourism demand, protected land supply, a tight rental market, and a high cap rate make this a compelling long-term hold.
Price in context
Cheaper than 29% of the 7 homes listed nearby right now, which run $695,000 to $1,225,000.
See all 7 nearby listings
| Address | Asking | Size |
|---|---|---|
| 115 Main St | $695,000 | 6 bd |
| 13 Meadow Rd | $695,000 | 6 bd · 3 ba |
| 220 Riverside Dr | $699,900 | 3 bd · 3 ba |
| 173 Kiwassa Rd | $729,000 | 5 bd · 4 ba |
| 61 Mount Pisgah Ln | $975,000 | 4 bd · 3 ba |
| 63 Palisade Park Way | $1,200,000 | 4 bd · 3 ba |
| 133-139 Broadway | $1,225,000 | — |
Where it is
For sale Coming soon Recently sold— zoom out for more