Neahwa Park Apartments

Showings by Appointment Only—Contact Ben Holscher at (607) 376-7505 call/text

Neahwa Park Apartments at 70 Market Street offers a rare blend of history, stability, and optionality in the vibrant City of Oneonta. This well-located, fully compliant, 24-unit building generates strong cash flow, with a clear path to materially higher income. The fundamentals are already in place whether your strategy is a long-term hold, a refinance, student housing or hybrid conversion, a blend of short-term rental and long-term, or eventual redevelopment.

An ideal owner-occupant residence. A spacious, fully remodeled 4-bedroom, 2-bathroom apartment is an ideal opportunity for an investor looking to relocate and live on site. The current owner enjoyed it as a comfortable primary residence for many years. Features include:

• Private laundry room with a slop sink

• Home office and extensive storage, including a mini attic

• Living room wired for surround sound

• Internet and Ethernet wiring beneath the flooring between the living room and home office

• Hardwired 16-camera surveillance system, with feeds to an NVR in the home office

• Storm door with a small dog door

• Refrigerator connected to a water line

• Powerful stove vent that exhausts outdoors

• Outdoor shed available for the owner's personal use

• Potential to fence off part of the deck for a dog owner's private use, while maintaining tenants' access to all three stair exits

Live in a piece of Oneonta's railroad history while running a successful business. Originally built as a freight warehouse for the Delaware & Hudson (D&H) Railroad, this iconic brick building was converted to residential use in the 1990s. It has a meaningful place in the railroad's local story: when the D&H closed its passenger depot just down Market Street (later home to Stella Luna Ristorante) in 1958, passenger business moved into this freight house. Owning it means holding a distinctive piece of local history in beautiful upstate New York, with fresh air and mountain and valley views.

The building. It has 63 bedrooms and 19,160 square feet, set on 0.94 acres across two adjacent parcels, with room to add a wing to the structure. Another adjacent mixed-use property is available for sale and offers development options.

An established operating platform. Ownership refined this property over two decades, and the sale conveys an established operating platform: TurboTenant property-management software, assigned and guest parking behind a fenced perimeter, and a communal Speed Queen laundry. A new fire-alarm system with two outdoor pull stations reports directly to dispatch (2025), a flat roof roughly three years old, a four-year-old concrete deck, new lower-level windows, and a multi-camera system. About 80% of in-unit appliances, hot-water tanks, ovens, refrigerators, and dishwashers have been replaced within the last one to three years. An up- to-date Certificate of Substantial Compliance for all 24 units and an active City short-term-rental permit. Located in a designated Opportunity Zone (OZ 2.0). 

Location. The property is walkable to SUNY Oneonta and Hartwick College, A.O. Fox Hospital, Main Street's shops and restaurants, the Foothills Performing Arts Center, and OPT bus lines. It sits directly beside Neahwa Park and its ballfields, with quick access to Interstate 88. It's also a short drive to Allstar Village baseball park, which supports excellent short-term rental demand.

All financial info requires an NDA prior to viewing.

1% Buyer Agency Commission offered to the cooperating broker. The buyer broker commission becomes due and payable to the buyer's agent upon transfer of title.

Drone Video

Virtual Tour - Sample 1 - Suite F

Virtual Tour - Sample 2 - Suite G

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