39 Shepard Avenue

Saranac Lake, NY 12983

Prime Income-Producing Triplex in the Heart of Saranac Lake - Live in One, Rent the Rest! Discover an outstanding investment opportunity in the desirable village of Saranac Lake, nestled in New York's stunning Adirondack Mountains. This well-maintained three-unit property features two spacious 2-bedroom apartments and one generous 3-bedroom apartment, offering excellent flexibility for owner-occupants or pure investors. Live mortgage-free (or nearly so) by occupying one unit while the other two generate strong rental income. Whether you're looking for a turnkey cash-flowing investment, a house hack, or long-term appreciation in a growing market, this triplex delivers multiple paths to success. The units have all been thoughtfully renovated since 2017, providing modern, attractive living spaces that appeal to quality tenants and support higher rents in this tight rental market. Recent major upgrades are a new roof installed in 2024. The exterior was painted in 2025. Saranac Lake offers a rare blend of small-town charm, vibrant downtown culture, and endless outdoor recreation. Residents and tenants enjoy easy access to hiking, paddling on the Saranac Chain of Lakes, the Adirondack Rail Trail, arts festivals, local shops, restaurants, and the year-round appeal of the High Peaks region (just minutes from Lake Placid). Strong demand for both long-term rentals and short-term stays makes this a versatile asset in a location known for its natural beauty and quality of life. Don't miss this chance to own a solid, income-generating multifamily property with recent updates in one of the Adirondacks' most appealing villages. Schedule a showing today and explore the potential for immediate income and long-term growth!

Listing courtesy of Matthew Szeliga of Mountain Run Realty



Listing information is provided by Participants of the Adirondack Champlain Valley MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2026, Adirondack Champlain Valley MLS.
Last checked: 2026-06-10 06:39 AM UTC