Listing Office: Houlihan Lawrence Inc.
Attribution contact:
914-962-4900
Nearby Schools
George Washington Elementary SchoolElementary School
Lakeland-copper Beech Middle SchMiddle School
Lakeland High SchoolHigh School
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
Location
Listed By
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