Lakefront Multifamily
For Sale
$1,189,000
238 Lakeview Drive Road, Highland Lake, NY 12743
Three-building property with eight kitchen-equipped units, direct shoreline access, and multiple outdoor recreation areas.
Property Size4,762 SF
Lot Size1.60 Acres
Days on Market98
Property Features for 238 Lakeview Drive Road
General Information
Standard status
Active
Size
4,762 SF
Lot size
1.60 Acres
Property subtype
Commercial
Zoning
R2
Units
Unit Mix
2 x studio-style
Multifamily Units
8
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$11,900
Amenities
multi-level deck
sandy beach
wraparound veranda
fire pit area
expansive front lawn
motorboat access
panoramic lake views
Building Details
Building Size
4,762 SF
Year Built
1925
Buildings
3
Stories
1
Units
8
Listing Agency:
KW Hudson Valley United
(845) 800-3032
Listed By:
Joseph A. LaBarbera
(845) 800-3032
Source:
Cohenandcohenrealty
Added: Apr 30
Changed: Aug 5
Last Checked: Aug 5 at 5:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Hudson Valley United
Investment Insights
Based on property information with market context.
This R2-zoned multifamily property comprises three buildings on 1.6 acres, with eight independent units, 11 total bedrooms, 7 bathrooms, and 8 kitchens. Built in 1925, the configuration includes a main lodge with four units, a ranch-style lodge with two units, and a bungalow containing two studio-style units. Several units feature private kitchens and baths, while the improvements also include decks, a wraparound veranda, and lake-facing outdoor areas. The property is vacant and requires updating or redevelopment.
More than 175 feet of shoreline provides direct lake frontage, motorboat access, and panoramic water views from multiple units and decks. The grounds include a sandy beach, fire pit area, and front lawn. The property is located at 238 Lakeview Drive Road in Highland Lake, with Monticello, Bethel Woods, and Port Jervis transit identified as nearby destinations; New York City is described as just under 2 hours away.
More than 175 feet of shoreline provides direct lake frontage, motorboat access, and panoramic water views from multiple units and decks. The grounds include a sandy beach, fire pit area, and front lawn. The property is located at 238 Lakeview Drive Road in Highland Lake, with Monticello, Bethel Woods, and Port Jervis transit identified as nearby destinations; New York City is described as just under 2 hours away.
Key Highlights
- 1.6‑acre multifamily property with 3 buildings and 8 independent units
- More than 175 feet of shoreline with direct lake frontage and motorboat access
- Unit mix includes 11 bedrooms, 7 bathrooms, and 8 kitchens
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $72.0k | $15.12 |
| − Vacancy | −$5.9k | −$1.24 |
| EGI | $66.1k | $13.88 |
| − OpEx | −$29.7k | −$6.25 |
| NOI | $36.4k | $7.63 |
4,762 SF · lease $15.12/SF/yr · vacancy 8.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$519.3K
$454.4K – $605.9K
NOI $36,354 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,430 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 12743, NY
347
Population
285
Households
1.2
Avg Household Size
47
Median Age
20%
College-Educated
99%
High-School Grad
7.5 sq mi
ZIP Area
46
Density / Sq Mi
$75,848
Median Earnings
$341,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Three-building property with eight kitchen-equipped units, direct shoreline access, and multiple outdoor recreation areas.
Where is this multifamily property located?
The property is located at 238 Lakeview Drive Road Highland Lake, NY.
What is the asking price?
The asking price for this property is $1,189,000.
What are key features of this property?
This property features: 1.6‑acre multifamily property with 3 buildings and 8 independent units; More than 175 feet of shoreline with direct lake frontage and motorboat access; Unit mix includes 11 bedrooms, 7 bathrooms, and 8 kitchens
