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5354 New York 23, 
Windham, NY 12496

$1,725,000


7

Beds


8

Baths


1,496

Sq Ft


Multi-Family

Active

Listed by

Lisa Jaeger

518-734-4200

Last updated:

November 9, 2026, 08:11 PM

MLS#

20266581

Source:

NY MLSUC

Company Logo

About This Home

5354 New York 23

Location, income, and opportunity come together in this exceptional mixed-use investment property in the heart of Windham's thriving Main Street business district. Generating over 10,000 in gross monthly rental income, this multifaceted offering includes five fully occupied residential apartments, approximately 1,500 square feet of leased commercial space, and an adjoining .24-acre building lot on a separate tax parcel with access to town sewer and water. With established tenants already in place, this is an attractive turnkey investment with income from day one and exciting potential for future expansion. Ideally positioned in a high-visibility, high-traffic location, the charming Victorian-style main building has been converted to accommodate both commercial and residential uses. The first floor features approximately 1,500 square feet of retail/professional office space with two public bathrooms. A lovely covered front porch adds character and an inviting presence along Main Street. The residential component includes five separate apartments. Upstairs in the Main house are two sunny residences: a two-bedroom, one-bath apartment and a spacious two-bedroom, two-bath apartment with in-unit laundry and access to a private balcony, both with separate entrances. A ground-level side apartment offers one bedroom and one bath. Toward the rear of the property, a converted garage houses two additional one-bedroom, one-bath apartments. All five apartments are occupied, providing an established residential rental income stream. Off-street parking adds convenience, and is connected to municipal water and sewer. And there's more! Included in this offering is an adjoining .24-acre building lot with access to municipal water and sewer hookups. This valuable addition presents an opportunity to expand your Main Street footprint with another mixed-use building, potentially combining commercial and residential space, (subject to municipal approvals) The location couldn't be better! Situated among Windham's shops, restaurants, movie theater, and local businesses, with the school nearby and Windham Mountain Club just one mile away. Windham's four-season appeal, from skiing and golf to hiking, mountain biking, festivals, and year-round recreation, makes this an attractive destination in the Northern Catskills and a beautiful place to live, work and play. Five apartments. Leased commercial space. Over 120,000 in annual gross rental income. An additional .24-acre building lot. One outstanding Main Street investment opportunity.

Home Facts

Multi-Family

8 Baths

7 Bedrooms

Built in 1900

Price Summary

1,725,000

$1,153 per Sq. Ft.

MLS #:

20266581

Last Updated:

November 9, 2026, 08:11 PM

Added:

8 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

7

Bathrooms

Total Bathrooms:

8

Interior

Living Area:

1,496 Sq. Ft.


Structure

Structure

Architectural Style:

Victorian

Building Area:

1,496 Sq. Ft.

Year Built:

1900


Lot

Lot Size (Sq. Ft):

20,473


Finances & Disclosures

Finances

Price:

$1,725,000

Price per Sq. Ft:

$1,153 per Sq. Ft.

Source:NY MLSUC
The information being provided by Hudson Valley Catskill 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 Hudson Valley Catskill 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.