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1860 E Main Street, Mohegan Lake, NY 10547

$2,900,000
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Sold Price
$2,900,000
List Price
$4,250,000
Status
CLOSED
MLS#
917981
Closing Date
Jul 31, 2026
Year Built
1904
Building Name
Ansonia Lodge
Acres
4.36
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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

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Additional Information

Taxes
$44,355
Lot Size
189,922
Heating
Oil
Cooling System Type
Wall/Window Unit(s)
Sewer
Public Sewer
Water Source
Public
Basement
Full
Elementary School
George Washington Elementary School
Middle School
Lakeland-Copper Beech Middle Sch
High School
Lakeland High School
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Listing courtesy of Listing Agent: Kenneth Lefkowitz (kjlefkowitz@gmail.com) from Listing Office: Houlihan Lawrence Inc..

Listing courtesy of Kenneth Lefkowitz from Houlihan Lawrence Inc.

Listings courtesy of OneKey® MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.