About 1860 E Main Street
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
Features of 1860 E Main Street
| MLS® # | 917981 |
|---|---|
| Price | $4,250,000 |
| Sold Price | $2,900,000 |
| Date Sold | July 31st, 2026 |
| Square Footage | 9,552 |
| Acres | 4.36 |
| Taxes | $44,355 |
| Year Built | 1904 |
| Type | Commercial Sale |
| Sub-Type | Multi Family |
| Status | Closed |
Community Information
| Address | 1860 E Main Street |
|---|---|
| City | Mohegan Lake |
| County | Westchester County |
| State | NY |
| Zip Code | 10547 |
| Adult 55+ Community | No |
Amenities
| Utilities | Cable Connected, Electricity Connected, Propane, Sewer Connected, Trash Collection Public |
|---|---|
| Parking | Unassigned |
| Is Waterfront | Yes |
| Waterfront | Lake Front, Lake Privileges |
| Has Pool | No |
Interior
| Heating | Oil |
|---|---|
| Cooling | Wall/Window Unit(s) |
| Has Basement | Yes |
| Basement | Full |
| Fireplace | No |
Exterior
| Exterior | Vinyl Siding |
|---|
School Information
| District | Lakeland |
|---|---|
| Elementary | George Washington Elementary School |
| Middle | Lakeland-Copper Beech Middle Sch |
| High | Lakeland High School |
Additional Information
| Date Listed | September 26th, 2025 |
|---|---|
| Days on Market | 338 |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Houlihan Lawrence Inc. |
|---|