Hillary Bender
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
1860 E Main Street | MLS# 917981
This commercial property located at 1860 E Main Street, Mohegan Lake, NY 10547 is currently listed for sale with an asking price of $4,250,000. E Main Street is located within the Lakeland school district. Search Mohegan Lake real estate on hillary-bender.timberlandproperties.com today.
Gallery
Property Features
Property Type: Commercial -
Basement: Full
Basement: Yes
Cooling: Wall/Window Unit(s)
Heating: Oil
Lot Size: 4.36 Acres
Taxes: $44,355
Year Built: 1904
Feature Descriptions
Building Area Total: 9552
Days on Site: 155
Exterior: Vinyl Siding
On Market Date: 2025-09-29
Parcel Number: 5400-015-016-00001-000-0024
Parking Features: Unassigned
Rental Term: Monthly
Sewer: Public Sewer
Units: 17
Utilities: Cable Connected, Electricity Connected, Propane, Sewer Connected, Trash Collection Public
Water: Public
Waterfront Features: Lake Front, Lake Privileges
Local Schools
High School: Lakeland High School
Middle School: Lakeland-Copper Beech Middle Sch
Elementary School: George Washington Elementary School
School District: Lakeland
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1860 E Main Street, Mohegan Lake, NY 10547
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Demographics
Listed By / Shown By
Listing By
Agency Name: Houlihan Lawrence Inc.
Agency Contact: 914-962-4900
Shown By
Agent Name: Hillary Bender
Agent Phone: (607) 431-0672
Agency Title: Timberland Properties
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1860 E Main Street, Mohegan Lake, NY 10547
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