$4,250,000
1860 E Main Street, Mohegan Lake, NY 10547
- 9,552 sqft
Multi-Family Home 
Built in 1904 
4.36acre lot
—— car garage 
$445/sqft 
Listed 7 months ago
Property 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
- Listing Status:
- Pending
- Data Last Updated:
- May 11, 2026 at 1:20AM
- Listing Office:
- Houlihan Lawrence Inc. : 914-962-4900
- MLS ID:
- 917981
- Basement: Full
- A/C: Wall/Window Unit(s)
- Heating: Oil
- Parking: Unassigned
- Originating MLS: onekey2
- School District: Lakeland
- County: Westchester County
- Zoning: 5400-015-016-00001-000-0024
- Utilities: Cable ConnectedElectricity ConnectedPropaneSewer ConnectedTrash Collection Public
- Water: Public
- Sewer: Public Sewer
- Source: onekey2
This listing courtesy of Houlihan Lawrence Inc.
Monthly Payment
$Est. Payment
- Principal & Interest $
- Property Taxes $
- Home Insurance $
- VA Funding Fee $
