A substantial redevelopment opportunity is available at 301 Grove Street in Elmira, New York. This three-story former assisted living facility offers approximately 8,152 square feet of building space on a 0.49-acre corner lot. With 20 listed bedrooms, two full bathrooms, and one half bathroom, the property provides an extensive existing layout that may appeal to investors, contractors, and developers looking for a large renovation project.
Previously operated as an assisted living or adult home, the building offers a different starting point from a conventional residential property. Its size and former use make it a candidate for exploring several possible redevelopment concepts, including multifamily housing, student accommodation, senior housing, or other residential arrangements.
The listing highlights the potential for more than 20 residential units, depending on the final design. However, this is a redevelopment possibility rather than an approved or guaranteed unit count. Any future project would depend on zoning, building conditions, architectural plans, utility capacity, applicable regulations, and the necessary approvals.
The property is being offered in its present condition and requires extensive renovation. It is therefore best suited to buyers who understand the work involved in evaluating, restoring, and potentially repurposing a large existing building.
A Former Assisted Living Facility with Significant Interior Space
The building historically operated as an assisted living or adult care facility. This previous use is an important part of its redevelopment story because the property already has a substantial interior footprint and an existing room configuration that may provide a starting point for future planning.
The structure contains approximately 8,152 square feet of interior area across three stories. Its 20 listed bedrooms and multiple existing spaces give prospective buyers a considerable amount of building area to assess.
Rather than purchasing a smaller property and beginning with a limited structure, an investor would be acquiring a large building with the potential to be evaluated for a new purpose.
The existing layout may offer opportunities to explore different arrangements of living spaces, shared areas, and other facilities. However, the current bedroom and bathroom counts should be considered approximate, and the listing specifically advises buyers to verify them independently.
Potential for 20 or More Residential Units
One of the main features emphasized in the listing is the possibility of creating more than 20 residential units, depending on the final redevelopment plan.
For investors interested in multifamily housing, this creates an opportunity to investigate whether the existing building can be redesigned to accommodate a larger number of independent residential spaces.
A potential conversion could involve studying how the existing rooms and common areas might be reorganized. The building’s three-story layout and 8,152 square feet provide substantial space for an architect and development team to evaluate.
The actual number of units would depend on several important factors, including room dimensions, required living-space standards, fire safety, emergency exits, accessibility, plumbing, electrical systems, and local building regulations.
No specific unit count should be assumed until a qualified professional has assessed the property and the relevant authorities have confirmed what is permitted.
Multiple Redevelopment Concepts to Explore
The listing identifies several possible directions for a future project. These concepts provide a starting point for investors considering how the property might be repositioned.
Multifamily residential apartments
A conversion into multiple apartments is one of the primary possibilities highlighted in the listing. The existing building area could be evaluated to determine whether independent residential units can be created within the structure.
Student housing
The property is located just minutes from Elmira College, making student accommodation another concept worth investigating. Its substantial interior space could potentially be studied for a housing arrangement serving students, subject to local approvals and the requirements of the intended use.
Senior or supportive housing
Given the building’s history as an assisted living or adult home, another possibility is to explore whether a future senior or supportive housing concept could be developed. Any such use would require careful evaluation of the building, applicable licensing requirements, accessibility standards, and other regulations.
Other residential concepts
The property may also be considered for alternative residential arrangements or a combination of owner-occupied and investment uses. The feasibility of these ideas would depend on the final design and permitted uses.
These are potential concepts rather than established entitlements. Buyers should complete the necessary research before committing to a redevelopment strategy.
Three Stories and 8,152 Square Feet
The property offers approximately 8,152 square feet of total structure and interior living area. Its three-story configuration provides multiple levels to evaluate when planning a possible renovation.
A building of this size may allow a developer to examine different ways of organizing the available space. Depending on the existing floor plan and structural condition, the project could involve retaining some elements of the current layout while redesigning other areas.
The listing identifies an attic as an additional feature. This is another part of the building that buyers may wish to inspect when evaluating its overall structure and possible storage or other permitted uses.
The property also has a basement with a dirt floor. Its condition, accessibility, moisture levels, and suitability for any intended purpose should be assessed during a professional inspection.
Extensive Renovation Required
This is not a turnkey property. The listing clearly states that the building requires extensive renovation and is being sold in its present condition.
That distinction is particularly important for anyone considering the purchase. The advertised price should be evaluated in the context of the work that may be necessary to make the building suitable for its next use.
A buyer should expect to investigate the condition of the structural components, roof, exterior, interior finishes, plumbing, electrical systems, heating, cooling, fire protection, and other building systems.
The property’s former assisted living use does not establish that it currently meets the requirements for residential apartments, student housing, senior housing, or any other proposed use.
A qualified contractor, architect, engineer, and other relevant professionals can help determine the scope of work and whether a proposed redevelopment plan is practical.
Interior Features and Existing Finishes
The listing identifies hardwood flooring in some areas, while flooring elsewhere varies. This reflects the possibility of different interior finishes throughout the building.
Gas water heating is listed among the included appliances. The property details also identify gas and other heating categories, along with cooling described as other or to be verified.
These descriptions are limited, so buyers should not assume that all heating, cooling, or other mechanical systems are operational or suitable for a future residential conversion.
The property has no listed fireplace. Its existing interior finishes and equipment should be reviewed as part of a comprehensive assessment of the building.
Lot Size and Corner Location
The building sits on approximately 0.49 acres of land, with reported dimensions of 150 by 143 feet.
The lot is described as rectangular and positioned on a corner. This provides a defined parcel surrounding the building and may be an important consideration when evaluating access, parking, site layout, and possible redevelopment plans.
The corner location may also be relevant when an architect or developer studies the property’s relationship to the surrounding streets and neighboring properties.
Any plans involving additional construction, expanded parking, exterior changes, or modifications to the site would need to be checked against local zoning and development requirements.
Parking and Garage
The listing reports two parking spaces and two garage spaces. Paved parking is also identified among the property’s parking features.
Parking will be an important consideration for any proposed conversion into multiple residential units or another use that brings additional occupants to the property.
The available spaces and garage configuration should be assessed against the requirements for the intended project. A larger residential development may require a different parking arrangement, depending on local regulations and the final approved design.
Construction and Building Details
The property was built in 1975 and is classified as a multifamily property. The exterior construction material is listed as stucco.
The building has three stories and is being sold as a resale property. Given its age and the extensive renovation needs identified in the listing, a detailed inspection will be essential.
Buyers should pay particular attention to the condition of the structure, exterior walls, roof, windows, interior floors, stairs, and building systems. Any renovation budget should be based on professional assessments rather than assumptions about the property’s current condition.
Public Water and Connected Sewer
The property has public water connected and sewer connected, according to the listing. These existing connections are important details for a potential redevelopment project.
However, the presence of connected utilities does not automatically establish that the existing systems have the capacity or configuration required for 20 or more residential units.
A developer should confirm the current condition, capacity, connection arrangements, and any upgrade requirements with the relevant utility providers and local authorities.
This is particularly important if the proposed project involves dividing the building into numerous independent apartments or changing the property’s former use.
Location Near Elmira College
The property is located in Elmira, New York, just minutes from Elmira College according to the listing description.
This proximity is one of the reasons student housing is mentioned as a possible redevelopment concept. Its location may also be worth evaluating for other residential uses that could benefit from convenient access to nearby educational facilities and the surrounding community.
For an investor, location is an important part of assessing the potential demand for a future housing project. However, any investment decision should be supported by independent research into local rental demand, comparable properties, operating costs, and the feasibility of the intended use.
Financial Information and Recent Price Reduction
The property is listed at $79,900 following a reported $10,000 price reduction on November 10. The listing shows a price of approximately $10 per square foot based on its 8,152 square feet of building area.
The annual property tax amount is listed as $6,458, with a tax-assessed value of $98,000.
The listing identifies cash as the purchase term. Prospective buyers should confirm the current price, sale conditions, property status, and any additional transaction requirements directly with the listing representative.
Because the building requires extensive renovation, the acquisition price is only one part of the overall financial picture. Buyers should also estimate renovation costs, professional fees, permits, inspections, utility work, insurance, taxes, and any other expenses associated with their proposed project.
Important Due Diligence Before Redevelopment
The listing specifically advises buyers to conduct their own due diligence regarding zoning, permitted uses, building requirements, utilities, unit count, square footage, and necessary approvals.
For a project of this size, these checks are particularly important. Before purchasing, an interested developer should consider:
- Confirming whether multifamily residential use is permitted.
- Determining whether student, senior, or supportive housing uses are allowed.
- Having an architect evaluate the existing floor plan and possible unit configurations.
- Obtaining a professional assessment of the building’s structural condition.
- Reviewing fire safety, emergency exits, accessibility, and applicable building codes.
- Verifying public water and sewer capacity for the proposed number of units.
- Confirming the actual usable square footage and existing bedroom and bathroom configuration.
- Establishing the likely renovation budget and timeline.
- Confirming whether the proposed development would require additional approvals or changes to the site.
These steps can help establish whether the property’s redevelopment possibilities are realistic and financially practical.
An Investment Opportunity for Buyers with a Vision
At approximately 8,152 square feet, this former assisted living facility offers a substantial building footprint at a relatively low advertised acquisition price. Its three stories, 20 listed bedrooms, 0.49-acre corner lot, and location near Elmira College create several possibilities worth investigating.
The potential for 20 or more residential units is a major part of the property’s appeal, although the final number would depend on professional planning and the necessary approvals. Multifamily apartments, student housing, senior or supportive housing, and other residential concepts are among the possibilities identified in the listing.
This is clearly a project for a buyer prepared to take on extensive renovation rather than someone looking for a move-in-ready property. Investors with access to contractors, architects, and development professionals may find the building worth evaluating as a value-add opportunity.
Offered at $79,900 after a $10,000 price reduction, 301 Grove Street represents a large-scale redevelopment project where the next owner will need to determine what the building can realistically become.