Property
| Ownership: | For Sale |
|---|---|
| Type: | Multi-Family |
| Pets: | No Pets Allowed |
| Lot Size: | 4.36 Acres |
Financials
Listing Courtesy of Houlihan Lawrence Inc.
17 unit lakefront multifamily situated on 4.
- 4.6 acres lakefront property.
- 4.6 acres lakefront property.
- Public water and sewer infrastructure in place.
- Public water and sewer infrastructure in place.
- It iscurrently zoned commercial and may qualify for rezoning tosupport residential or mixed-use development.
- It iscurrently zoned commercial and may qualify for rezoning tosupport residential or mixed-use development.
- With lake access,commercial frontage, and proximity to major retailers andtransportation, the site is well-suited for townhomes, age-restricted housin
- With lake access,commercial frontage, and proximity to major retailers andtransportation, the site is well-suited for townhomes, age-restricted housin
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- Frontage on Route 6 with strong visibility and access.
- Frontage on Route 6 with strong visibility and access.
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- Survey map
Description
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
Amenities
- Cable Connected
- Electricity Connected
- Lake Front
- Lake Privileges
- Propane
- Sewer Connected
- Trash Collection Public
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
