35 Cowing Street, Lancaster, NY 14043

Property Description

Turnkey multi-family investment opportunity in the Village of Lancaster! This high-performing double features two spacious 3-bedroom apartments generating $2,900 in total gross monthly rent, with the downstairs unit currently leased for $1,550 and the upstairs unit for $1,350. The downstairs unit will be delivered vacant by closing, presenting a flexible opportunity for owner-occupants, house-hackers, or investors seeking to place a new tenant at current market rates. All major mechanicals and high-ticket capital improvements have been completed, including a new main sewer line with a transferable 5-year warranty installed in 2025, new hot water tanks in 2025, and a full tear-off roof with gutters completed in 2020. Unlocked asset upside remains with a detached 2-car garage, sunroom office, partially finished attic, and basement storage that offer immediate potential for additional rental income. Separate utilities split responsibility cleanly between units.