Remarks
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
