Historic Multi-Unit Home for Sale in Downtown Owego, NY – A Rare Investment and Lifestyle Opportunity
We are pleased to present an extraordinary historic multi-unit home for sale in Downtown Owego, New York, a property that seamlessly blends 19th-century character, modern livability, and income-producing potential. Located at 359 Main Street, Owego, NY 13827, this remarkable residence stands as a testament to timeless craftsmanship and thoughtful stewardship.
Originally owned by Frank E. Colby, proprietor of the Owego Bridge Company, this home is deeply woven into the local history of Owego. Built in 1860, the property offers not just a place to live, but the opportunity to own a meaningful piece of the village’s architectural and cultural heritage.
With 8 bedrooms, 4 bathrooms, and 5,033 square feet of living space, this property is perfectly suited for owner-occupants, multi-generational families, or savvy investors seeking strong long-term value.
Prime Main Street Location with Village Lifestyle Appeal
Positioned directly on Main Street in Downtown Owego, this home offers unmatched walkability and everyday convenience. We enjoy easy access to local shops, cafés, restaurants, parks, riverfront attractions, and community events, all just steps from the front porch.
Owego is celebrated for its charming downtown, strong sense of community, and scenic Susquehanna River setting, making it one of the most desirable small towns in upstate New York. Properties of this scale, condition, and flexibility in such a central location are increasingly rare.
A Lush Deep Lot with Exceptional Outdoor Space
Set on a luscious, deep lot, the grounds provide ample space for outdoor entertaining, gardening, family gatherings, or quiet relaxation. Unlike many downtown properties, this home benefits from generous yard space that enhances privacy and usability.
Whether hosting summer events, enjoying morning coffee outdoors, or simply appreciating the greenery, the lot adds significant lifestyle value rarely found in village-center homes.
Grand Owner’s Unit with Dramatic Architectural Details
The two-story owner’s unit within the main home is nothing short of impressive. Upon entry, we are welcomed by a dramatic staircase that opens into a grand two-story interior view, immediately conveying a sense of scale and elegance.
Original architectural elements are thoughtfully preserved, creating a warm and authentic atmosphere that honors the home’s historic roots. High ceilings, large windows, and gracious room proportions provide an ideal balance between historic charm and modern comfort.
Recent fresh exterior paint enhances curb appeal while protecting the home’s enduring structure, ensuring it remains as striking today as it was over a century ago.
Multiple Income-Producing Apartments
This property truly stands out as a flexible multi-unit investment opportunity. In addition to the owner’s unit, the home includes:
A third-floor apartment in the main house that is tenant-occupied, providing immediate rental income
A beautifully repurposed carriage house featuring a two-car garage with an apartment above
The carriage house apartment offers excellent versatility, ideal for long-term rental, short-term stays, guest accommodations, or extended family living.
With tenants already in place, we benefit from built-in income that can help offset the mortgage, significantly reducing monthly ownership costs.
Thoughtfully Converted Carriage House with Garage and Apartment
The original carriage house has been expertly transformed into a highly functional and attractive structure. The two-car garage provides secure parking and storage, a valuable asset in downtown living.
Above the garage, the apartment adds a separate living space with strong rental appeal. This additional unit increases overall property value and income potential while maintaining privacy between occupants.
Inviting Front Porches for True Village Living
Two generous front porches define the home’s façade and invite us to enjoy the rhythm of village life. These spaces are perfect for morning coffee, evening conversations, or simply watching the world go by on Main Street.
Porches like these are a hallmark of historic homes and contribute significantly to both lifestyle enjoyment and curb appeal.
All Appliances Included and No Flood Insurance Required
Every appliance in the property remains with the sale, making this a truly move-in-ready investment. This detail simplifies ownership and reduces upfront costs for new buyers.
Additionally, the property requires no flood insurance, offering valuable peace of mind and predictable ongoing expenses—an important consideration for any homebuyer or investor.
Ideal for Owner-Occupants and Investors Alike
This property presents a rare opportunity to live in the main home while rental units generate income, a strategy that continues to attract buyers seeking financial efficiency and lifestyle flexibility.
For investors, the combination of location, unit mix, historic appeal, and existing tenancy positions this home as a strong long-term asset. For owner-occupants, it offers space, beauty, and income in one exceptional package.
Property Overview at a Glance
Price: $309,900
Address: 359 Main St, Owego, NY 13827
Bedrooms: 8
Bathrooms: 4
Living Space: 5,033 sq ft
Year Built: 1860
Property Type: Historic Multi-Unit Home
Parking: Two-car garage
Listing Brokerage: NEXTHOME KINGDOM
MLS #: 333792 (GBMLS)
A Rare Chance to Own a Piece of Owego’s Story
Homes of this caliber, history, and versatility seldom come to market. We recognize this property as more than just real estate—it is a living chapter of Owego’s past and a powerful opportunity for its future owner.
With its architectural presence, income potential, central location, and timeless charm, this multi-unit home represents one of the most compelling offerings currently available in Downtown Owego.
From Zillow
