Former Assisted-Living Facility in New York With 8,152 Square Feet Listed for $89,900

A large former assisted-living facility in Elmira, New York, is on the market for $89,900, offering more than 8,000 square feet of interior space and a potential redevelopment opportunity for investors willing to take on a substantial renovation project.

Located at 301 Grove Street in Elmira, the property sits on a 0.49-acre corner lot and reportedly contains 8,152 square feet, 20 bedrooms, and three bathrooms. Built in 1975 according to the listing, the three-story building previously operated as an adult-care or assisted-living facility.

Although the asking price may attract attention, the property requires extensive renovations. Its future potential will depend on the building’s condition, local zoning regulations, renovation expenses, and the approvals required for a new use.

Property Details

A Large Building With Potential for Redevelopment

One of the most notable aspects of this property is its previous use as an assisted-living facility. The building’s layout includes numerous rooms, hallways, and common areas that could provide a starting point for a future redevelopment project.

The listing mentions several possibilities, including apartment conversion, student housing, senior housing, and supportive housing.

However, these are potential ideas rather than approved uses. Any buyer considering a conversion would need to verify zoning requirements, building codes, fire safety standards, accessibility requirements, and occupancy regulations with the appropriate local authorities.

The existing 20-bedroom count also does not necessarily mean the property can legally accommodate 20 separate apartments.

Interior Features and Renovation Needs

The property has several architectural details that may interest buyers looking beyond its current condition. Interior photographs show wood trim, a fireplace, older flooring, large windows, and spacious rooms.

However, the building clearly requires significant work. Some photographs reveal worn flooring, damaged finishes, ceiling staining, and areas needing repairs.

The condition of the plumbing, electrical wiring, heating systems, roof, and fire protection equipment should be professionally evaluated before any purchase decision.

Restoring an older building of this size could involve considerable expenses, particularly if the new owner plans to change its original use.

Nearly Half an Acre in Elmira

The building occupies approximately 0.49 acres on a corner lot. Public water and sewer connections are reported in the listing, along with two garage parking spaces.

Its location near Elmira College could be worth investigating for buyers considering student-oriented housing. Nevertheless, rental demand, competing properties, parking requirements, and the feasibility of obtaining the necessary approvals would all need to be examined.

The property also reportedly carries annual real estate taxes of approximately $6,458, an expense that should be included in any redevelopment budget.

The Purchase Price Is Only the Beginning

At $89,900, the asking price works out to roughly $11 per square foot. That figure may initially appear attractive for a building offering more than 8,000 square feet.

However, the renovation budget could easily become the largest part of the investment. Structural repairs, updated electrical and plumbing systems, heating improvements, fire safety upgrades, and interior reconstruction could all be necessary.

The listing specifies cash terms, so buyers should also investigate financing options and calculate the ongoing costs of holding the property during renovation.

A professional inspection, contractor estimates, and confirmation of permitted uses would be important steps before moving forward.

Is This Elmira Property Worth a Closer Look?

For an experienced investor or developer, this former assisted-living facility could represent an interesting redevelopment opportunity. Its substantial interior space, existing layout, and location provide several possibilities worth researching.

Still, the low asking price should not distract from the scale of the work involved. Turning the building into a functional residential property could require significant capital, professional planning, and multiple approvals.

Listed for $89,900, 301 Grove Street is certainly an unusual property. Would you take on a renovation project of this size, or do you think the costs would outweigh the potential?

Original Property Listing

View the listing details, photographs, and latest reported status on Zillow:

301 Grove Street, Elmira, NY 14905 – Zillow Listing