Turnkey Five-Unit Multifamily with
48-50 Horseshoe Lake Road Kauneonga Lake, NY 12749
48-50 Horseshoe Lake Road, Kauneonga Lake, NY, 12749
$650,000
For Sale
$650,000
Five residential rental units across four buildings, plus a 15-foot-wide lakefront parcel with private dock space.
Property Size3,400 SF
Price / SF$191.18
Days on Market53
Property Features for 48-50 Horseshoe Lake Road
General Information
- Standard status
- Active
- Size
- 3,400 SF
- Property subtype
- Quadruplex
Building Details
- Year Built
- 1940
Listing agency
Catskills Home Services
(845) 397-7768
Listed by
Alan R. Wieder
(845) 397-7768
Source
Compass
Added: Jun 1 Updated: Jul 21 at 7:33AM Checked: Jul 22 at 6:08AM
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 Catskills Home Services
Investment Insights
Based on property information with market context.
48-50 Horseshoe Lake Road offers a turnkey, fully vacant multifamily package with five residential rental units across four buildings on two adjacent parcels. The 48 Horseshoe Lake Road duplex features two separate one-bedroom apartments, each with a private entrance, individual electric meters, and off-street parking. The 50 Horseshoe Lake Road main house includes three bedrooms and one and a half bathrooms, with a large living room, formal dining room, oversized kitchen, and access to a rear deck, plus an unfinished basement with laundry facilities, storage, and updated mechanicals including a newer boiler and oil tank.
Behind the main house are two year-round cabins. Cabin 50B is a one-bedroom unit with a large foyer, in-unit washer and dryer, spray foam insulation, and its own electric meter. Cabin 50C is a recently renovated studio with vinyl plank flooring, shiplap ceilings, a kitchenette with granite countertops and an island, a new bathroom, new windows, and a covered front deck, with spray foam insulation beneath the cabin.
The sale also includes a 15-foot-wide lakefront parcel on White Lake that provides private dock space and direct access for boating, fishing, and swimming. The property is directly across from the lake and just moments from the shops, restaurants, and attractions of Kauneonga Lake, with nearby demand drivers including Resorts World Catskills, The Kartrite Resort & Indoor Waterpark, and the Center for Discovery.
Behind the main house are two year-round cabins. Cabin 50B is a one-bedroom unit with a large foyer, in-unit washer and dryer, spray foam insulation, and its own electric meter. Cabin 50C is a recently renovated studio with vinyl plank flooring, shiplap ceilings, a kitchenette with granite countertops and an island, a new bathroom, new windows, and a covered front deck, with spray foam insulation beneath the cabin.
The sale also includes a 15-foot-wide lakefront parcel on White Lake that provides private dock space and direct access for boating, fishing, and swimming. The property is directly across from the lake and just moments from the shops, restaurants, and attractions of Kauneonga Lake, with nearby demand drivers including Resorts World Catskills, The Kartrite Resort & Indoor Waterpark, and the Center for Discovery.
Key Highlights
- 5 residential rental units across four buildings on two adjacent parcels: 48 & 50 Horseshoe Lake Road
- Includes a 15‑foot‑wide lakefront parcel on White Lake for private dock space and direct lake access
- 48 Horseshoe Lake Road: side‑by‑side duplex with two separate 1‑bedroom apartments, each with private entrance, electric meter, and off‑street parking
Local 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 | $51.4k | $15.12 |
| − Vacancy | −$4.2k | −$1.24 |
| EGI | $47.2k | $13.88 |
| − OpEx | −$21.2k | −$6.25 |
| NOI | $26.0k | $7.63 |
3,400 SF · lease $15.12/SF/yr · vacancy 8.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$370.8K
$324.5K – $432.6K
NOI $25,956 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$932.6K
$816.0K – $1.09M
NOI $65,280 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Five residential rental units across four buildings, plus a 15-foot-wide lakefront parcel with private dock space.
Where is this apartment building located?
The property is located at 48-50 Horseshoe Lake Road Kauneonga Lake, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 5 residential rental units across four buildings on two adjacent parcels: 48 & 50 Horseshoe Lake Road; Includes a 15‑foot‑wide lakefront parcel on White Lake for private dock space and direct lake access; 48 Horseshoe Lake Road: side‑by‑side duplex with two separate 1‑bedroom apartments, each with private entrance, electric meter, and off‑street parking
