Multi Family 5+ in Orange County
| MLS Number | 985486 |
|---|---|
| Address | 649 Jersey Avenue, Greenwood Lake, NY 10925 show map |
| Price | $1,400,000 show mortgage calculator |
| Acres | 1.3 |
| Year Built | 1950 |
| Est. Sq. Footage | 0 |
| Elementary School | Contact Agent |
| Jr High-Middle School | Call Listing Agent |
| High School | Contact Agent |
| Estimated Taxes | $14,900 |
| Total Apt Units | 6 |
Lakefront mixed-use investment opportunity on Greenwood Lake. This unique waterfront property features a commercial kitchen and restaurant space, alongside five income-producing residential units, offering multiple streams of revenue in a high-demand lakefront setting. Positioned directly on the water, the property includes a private beach area and multiple dock spaces ideal for generating additional income through dock rentals while drawing in boating traffic and lake visitors to the restaurant. These sought-after waterfront amenities not only enhance the customer experience but also increase tenant desirability and overall asset value. The restaurant is currently vacant, presenting a prime value-add opportunity for an owner-operator or investor to reestablish a thriving waterfront destination. The residential component is well-suited for consistent cash flow, featuring a unit mix of one 2-bedroom, 1-bath apartment and four 1-bedroom, 1-bath apartments. Zoned for commercial mixed-use, the property offers exceptional flexibility tailored to tourism and waterfront activity. Permitted uses include restaurants, retail, hospitality concepts, marinas, and a variety of recreational or visitor-focused businesses, with the option to maintain or expand the existing residential use. A rare opportunity to acquire a true waterfront asset with strong income potential and long-term upside. Restaurant last fully operated in 2024. Business financials available upon request.
Waterfront
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