Short-Term Rental Portfolio - Resort Town

Description:

This short-term rental portfolio in Watkins Glen, NY, is at the base of Seneca Lake in the Finger Lake region. The portfolio comprises eight buildings totaling 16 doors and 27,000+ sqft of space. The property maintenance details are great for keeping current management or transitioning to a new management team. Watkins Glen's electric costs are lower than those of surrounding markets.  All suites were updated between 2017 and 2018 and have fully equipped kitchens. Four properties share a private off-street parking lot for guests' convenience. Currently, the portfolio operates with a 2-night minimum stay. Major attractions in the area include the State Park, the Watkins Glen International Raceway, and the abundance of breweries and wineries. 


Tourism-Driven Market

Watkins Glen, nestled in the heart of New York’s breathtaking Finger Lakes region, is more than just a picturesque small town—it’s a growing hotspot for tourism and short-term rental success. With a population of 2,165 and a remarkable growth rate of 16.21% since the last census, this charming village offers both stability and opportunity for savvy investors.

Watkins Glen is a cornerstone of Finger Lakes tourism, drawing year-round visitors to renowned attractions like Watkins Glen State Park, Seneca Lake wine trails, and premier outdoor events such as the NASCAR Cup Series at Watkins Glen International. The area’s established reputation as a travel destination ensures a steady influx of guests, drawing over 1.1 million guests from all over the world , making it a lucrative market for short-term rental properties. 

The average home value in Watkins Glen rose 4.8% over the past 12 months. The high demand for short-term stays, coupled with rising property values, offers both immediate income potential and long-term appreciation. The market that attracts mature, professional travelers seeking quality accommodations. Additionally, a daytime population density of 2,409.3 highlights the steady flow of visitors and locals, increasing the likelihood of high occupancy rates.

 



Portfolio with STR  Permits in place

Permits to transfer with Corp.


Management and cleaning contracts in place

Managment would like to stay on


Established website and returning clients

Central booking system for ease of reporting


Units all have similar finishes and decor for easy maintenance
3 Buildings potentially can have another unit added bringing total to 19 doors