A rare waterfront compound in North Sea, Southampton, this multi-structure property presents a compelling investment opportunity with strong income potential and an impressive rate of return. Set along a bulkheaded stretch of North Sea Creek-with direct access to North Sea Harbor and Peconic Bay- the property offers both lifestyle appeal and proven rental performance. The grounds feature four separate buildings, thoughtfully laid out to maximize flexibility and usability: Building 1 (closest to the street): A 2-bedroom, 1-bath cottage complete with oil hot water heat, a full basement, and exterior access. (RENTED) Building 2: A studio-style structure with tile flooring, barn doors, and an electric wood stove-ideal for use as an artist's studio, office, or storage space (no water or heat). (RENTED) Building 3: A studio cottage equipped with a full kitchen and full bathroom. Building 4 (waterfront): JUST renovated.. This charming 1-bedroom, 1-bath cottage featuring vaulted ceilings, an open living/dining area, loft space, gas heat, wood stove, private deck, and public water connection. The property is supported by a newly installed IA septic system and has an established rent roll, making it a turnkey income-producing asset. Tenants can enjoy direct water access for kayaking, paddleboarding, or canoeing right from the property. Whether maintained as a high-performing rental investment or reimagined as a unique Hamptons family compound, this offering is a truly exceptional opportunity in a sought-after waterfront setting.