$1,800,000

35 Gardners Lane, Hampton Bays, NY 11946

  • 4 beds |
  • 5 baths |
  • 5,136 sqft
  • Property Icon Duplex
  • Property Year Built Icon Built in 1992
  • Property Lot Size Icon0.44acre lot
  • Property Parking Icon 3 car garage
  • Property Price Per Square Feet Icon $350/sqft
  • Property List Date Icon Listed 17 days ago

Property Description

Presenting a rare investment opportunity in Hampton Bays: a waterfront property with direct Shinnecock Bay views on Penny Pond, 80 feet of frontage, a 40-foot dock, and sandy beach access. Situated on 0.44 acres, this compound offers multifamily and multiple income-producing structures, making it an ideal candidate for investors seeking rental upside or redevelopment potential. The property is anchored by a two-bedroom, two-bath main house with an open floor plan, cathedral ceilings, gourmet kitchen, dining area, and living room with fireplace. Architectural plans and approvals are in place to renovate and expand the existing structures, including a separate guest cottage and an 18foot-by-36-foot gunite pool. Additional residences include a two-bedroom, one-bath cottage, a one-bedroom, one-bath studio above a two-car detached garage, and ample outdoor decking for entertaining and relaxation. Key property features include sprinklers, extensive landscaped grounds, and low annual taxes of only $14,309. Several units are separately metered, offering flexibility for year-round rental income. With multifamily, bay views, and strong demand for waterfront rentals, this asset provides investors with multiple strategies: reposition as a boutique rental compound, operate as a seasonal retreat, or redevelop into a luxury waterfront estate. Located just minutes from ocean beaches and at the gateway to the Hamptons, this property combines lifestyle appeal with investment-grade fundamentals. Both homes are also available for lease.

Listing Status:
Active
Data Last Updated:
March 26, 2026 at 8:20PM
Listing Office:
Douglas Elliman Real Estate : 631-288-6244
MLS ID:
968687
  • General: Open Floorplan
  • Basement: Crawl Space
  • A/C: Wall/Window Unit(s)
  • Heating: BaseboardOil
  • Parking: DetachedGarageParking Lot
  • Originating MLS: onekey2
  • County: Suffolk County
  • Zoning: 0900-322-00-04-00-002-000
  • Utilities: Cable AvailableElectricity Available
  • Water: Public
  • Sewer: Cesspool
  • Source: onekey2

This listing courtesy of Douglas Elliman Real Estate

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

Ready to Start a VA Loan?

Get Started Veterans United Home LoansNMLS #1907  †
Get Prequalified »
Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

H

Hampton Bays Elementary School

72 Ponquogue Ave, Hampton Bays, NY, 11946

Grades KG-4

1.23 miles away

H

Hampton Bays Middle School

70 Ponquogue Ave, Hampton Bays, NY, 11946

Grades 5-8

1.32 miles away

H

Hampton Bays High School

88 Argonne Rd E, Hampton Bays, NY, 11946

Grades 9-12

1.51 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.