$89,900 Property With 20 Bedrooms, 8,152 Sq. Ft. and Multifamily Redevelopment Potential

Welcome to Adorable Living Spaces. Located at 301 Grove Street in Elmira, New York, this large redevelopment property is listed for just $89,900 and offers approximately 8,152 square feet of building space. Formerly operated as an assisted living or adult care facility, the building is now being marketed as an investment opportunity with potential for conversion into residential apartments, student housing, or other approved uses. With approximately 20 bedrooms and 3 bathrooms listed, the property offers an unusually large amount of space at a relatively low asking price. Located just minutes from Elmira College, it could appeal to experienced investors, contractors, and developers searching for a substantial renovation project.

The building’s 8,152 square feet of reported space provides a large existing structure that may be adaptable to different residential layouts. Its previous use as an assisted living facility suggests a configuration designed to accommodate multiple occupants, although the current layout, room conditions, and building systems require independent evaluation. The listing advertises approximately 20 bedrooms and 3 bathrooms, but specifically cautions that these counts should be verified by buyers. The property is not move-in ready and requires extensive renovation. Depending on its structural condition and local building requirements, a redevelopment project could involve substantial changes to the interior layout, plumbing, electrical systems, heating, accessibility, and fire safety features.

One of the property’s main attractions is its potential for multifamily redevelopment. The listing suggests that the building could possibly accommodate 20 or more residential units, depending on the final design and required approvals. Other potential concepts include student housing, senior or supportive housing, and a combination of owner-occupied and rental spaces. Its location near Elmira College may be of interest to investors evaluating student-oriented housing, although local rental demand and financial feasibility should be independently researched. Importantly, the advertised unit count represents a development possibility rather than an existing approved apartment configuration. The listing does not provide a lot size, parking capacity, or details about outdoor areas, so those factors should also be reviewed before determining how the property could be used.

At $89,900, this Elmira property offers a relatively low purchase price for a building of its reported size, but buyers should recognize that the total redevelopment investment could be substantial. The property is being sold in its present condition, and the listing makes clear that extensive renovation will be necessary. Before purchasing, prospective investors should consult qualified contractors, architects, and local officials to evaluate structural integrity, zoning, permitted occupancy, building codes, fire protection, accessibility requirements, utility capacity, and the feasibility of creating additional residential units. Environmental assessments may also be appropriate depending on the building’s age and previous use. Buyers should confirm the legal unit count, square footage, ownership records, and any required permits before developing financial projections. With its large interior, former assisted living configuration, and proximity to Elmira College, 301 Grove Street could be an interesting opportunity for experienced buyers prepared to undertake a major redevelopment project.

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If you need more info, contact the listing agent from the Zillow link below the photos.