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39 Shepard Avenue, 
Saranac Lake, NY 12983

$349,900


Bed


Bath


2,730

Sq Ft


Multi-Family

Active

Listed by

Matthew Szeliga

Mountain Run Realty

518-304-7774

Last updated:

June 3, 2026, 10:49 AM

MLS#

207156

Source:

NY ACVMLS

About This Home

39 Shepard Avenue

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!

Home Facts

Multi-Family

Built in 1920

Price Summary

349,900

$128 per Sq. Ft.

MLS #:

207156

Last Updated:

June 3, 2026, 10:49 AM

Added:

a month ago


Structure

Structure

Building Area:

2,730 Sq. Ft.

Year Built:

1920


Finances & Disclosures

Finances

Price:

$349,900

Price per Sq. Ft:

$128 per Sq. Ft.

Source:NY ACVMLS
The information being provided by Adirondack Champlain Valley Mls is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information is deemed reliable but not guaranteed and should therefore be independently verified. © 2026 Adirondack Champlain Valley Mls All rights reserved.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.