$4,250,000

1860 E Main Street, Mohegan Lake, NY 10547

  • 9,552 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1904
  • Property Lot Size Icon4.36acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $445/sqft
  • Property List Date Icon Listed 4 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:
Active
Data Last Updated:
February 7, 2026 at 5:22PM
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

Presented by Veterans United Realty

This listing courtesy of Houlihan Lawrence Inc.

Monthly Payment

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

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Location

Schools Nearby

G

George Washington Elementary School

3634 Lexington Ave, Mohegan Lake, NY, 10547

Grades KG-5

0.44 miles away

L

Lakeland-Copper Beech Middle School

3417 Old Yorktown Rd, Yorktown Heights, NY, 10598

Grades 6-8

1.88 miles away

L

Lakeland High School

1349 E Main St, Shrub Oak, NY, 10588

Grades 9-12

0.82 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.