$ 4,250,000
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$4,250,000
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SqFt
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About the Listing HOULAW13 - 53751,33903
17-unit lakefront multifamily situated on 4.36 acres with substantial excess land. R-3 Multifamily zoning supports expansion of 30 additional units (buyer to verify) Strong in-place cash flow with $216,064 NOI supports acquisition financing. As-is value estimated at $2.7M–$3.0M based on current income. Development upside: 30 new units at $1,500/month generate $378,000 incremental NOI. Stabilized NOI of $594,000 supports $7.9M–$8.5M total value at market caps. Flexible execution: hold for cash flow, phased development, or full build-out. Rare combination of income + lakefront development opportunity in Westchester County
Listing Highlights
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Wall/Window Unit(s)
- Heating: Oil
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Full
- Other:
- Water: Public
Exterior Details
- Lot Description: Lake Front,Lake Privileges,No Waterfront
- Garage Capacity: N/A
- Roof:
- Others: Renovated
- Sewer: Public Sewer
- Parking Features: Unassigned
Financial Details
- Tax Amount: $44,355
- Taxes w/Assessments: N/A
- Tax/Property ID: 5400-015-016-00001-000-0024
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Questions About..
1860 E Main St Mohegan Lake, NY 10547
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