Multi Family 5+ in Westchester County
| MLS Number | 917981 |
|---|---|
| Address | 1860 E Main Street, Mohegan Lake, NY 10547 show map |
| Price | $4,250,000 show mortgage calculator |
| Acres | 4.3600091827365 |
| Year Built | 1904 |
| Est. Sq. Footage | 0 |
| Elementary School | George Washington Elementary School |
| Jr High-Middle School | Lakeland-Copper Beech Middle Sch |
| High School | Lakeland High School |
| Estimated Taxes | $44,355 |
| Total Apt Units | 17 |
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
© 2022 OneKey Multiple Listing Service, Inc., All Rights Reserved. The data relating to real estate for sale or lease on this website comes in part from OneKey MLS. Real estate listings held by brokerage firms other then CS Realty Relocation Services are marked with a OneKey MLS Logo. The information appearing herein has not been verified by the OneKey Multiple Listing Service, Inc. or by the Hudson Gateway Association of Realtors, Inc. or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.