177 Lake Blvd Mahopac, NY 10541

Property Details for 177 Lake Blvd

Year built

1925

Lot size

0.81 lot acres

Property size

6,117 SF

Property type

Commercial real estate

Description

This exceptional investment property, formerly known as the Mayflower Hotel, presents a rare opportunity to acquire a stable and lucrative rental portfolio. Situated on a spacious 0.81-acre lot in Mahopac, NY, at 177 E Lake Blvd, this property boasts a total of 6,117 square feet of living space. The main building comprises seven one-bedroom apartments, all currently generating income through the Section 8 program, providing a reliable and consistent rental stream. This government-backed program ensures timely rent payments, minimizing the risk associated with traditional rental properties. Adding to the income potential is a separate, freestanding three-bedroom cottage, further enhancing the overall return on investment. The property's prime location offers easy access to a variety of local amenities, including restaurants, a library, parks, and a 50-mile bike path, as well as convenient public transportation. The beautifully landscaped grounds feature lush lawns and mature trees, creating a serene and attractive setting. The property's charming exterior includes an ornamental stone fireplace at the front entrance, adding to its curb appeal and overall character. This turnkey investment is priced at $2,200,000 and offers a compelling opportunity for long-term financial growth and stability. The property's strong rental history and government-backed tenancy make it an ideal investment for those seeking a secure and profitable venture in the Mahopac real estate market.

Location Insight

City

Mahopac

County

Putnam County

State

New York

Longitude

-73.7283

Latitude

41.3767