UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 917981
Rental Info No
Year Built 1904
Annual Tax Amount $44,355
Lot Size 4.360 Acres
Acres 4.36
Property Sub-Type Multi Family
Source onekey2
Property Description
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
Location
State NY
County Westchester County
Rooms
Basement Full
Interior
Heating Oil
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Unassigned
Utilities Available Cable Connected, Electricity Connected, Propane, Sewer Connected, Trash Collection Public
Waterfront Description Lake Front,Lake Privileges
Building
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding
Schools
Elementary Schools George Washington Elementary School
Middle Schools Lakeland-Copper Beech Middle Sch
High Schools Lakeland
School District Lakeland
Others
Special Listing Condition None