108 N Franklin Street, Watkins Glen, NY 14891 | MLS #R1661893 | HUNT Real Estate
 
  • 138 days on site
  • 81 views

OPPORTUNITIES LIKE THIS DON'T COME OFTEN IN THE HEART OF WATKINS GLEN! Known to locals as the House of Hong building, this property is a staple of the downtown landscape. You can own a piece of Watkins Glen history with this well maintained, mixed-use powerhouse. Historically known as the “Watkins Hotel” and located just two blocks from Seneca Lake, this building offers a rare blend of historical charm and modern financial stability. The first floor features a well-established bar and restaurant with a long-term lease. The operator covers all utilities and utilizes the basement for ample storage. The second and third floors house 7 fully occupied, stylish apartments. Renovated within the last decade, these units offer tenants coin operated laundry and private outdoor seating. Landlord covers cable, Wi-Fi, trash, water and sewer, tenants pay their own electric. Tenants enjoy ample street parking on 1st and 2nd Streets and the convenience of being close to everything. The second floor boasts one of only two outdoor seating areas that truly overlook the vibrant Franklin Street corridor. With a proven track record of 100% occupancy and prime location, this is the ultimate “set and forget” investment. Interior photos are a sample from when renovations were done. Please ask your agent for the Rental Information Sheet. ATTRACTIVE OWNER FINANCE OPTION! Down Payment: $300,000, Term: 30 Year, Interest 6%!

Source: New York Alliance, MLS#: R1661893

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  • Property Type
    Commercial Sale
  • Lot
    0.12 acres

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  • Median Age
    46
  • Population Density
    87
  • College Educated
    34%
  • Estimated Median Income
    $51,563
  • Estimated Total Home Owners
    1,255
  • Estimated Total Renters
    709
  • Owner / Renter Divide
    64% / 36%
  • Estimated Average Household Size
    2
  • Total Population
    4,536
  • Community data courtesy of LiveBy, Inc.

Owning this Home

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

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