Description
ATTENTION: OWNER-OCCUPANTS AND PROPERTY INVESTORS ALIKE! Rarely does a LEGAL THREE-FAMILY PROPERTY offering this level of flexibility, income potential, and future upside become available in Mahopac. Whether you're looking to house-hack and offset your housing expenses by living in one unit while collecting rental income from the others, create a multigenerational living arrangement, or add a strong-performing asset to your investment portfolio, 592 Long Pond Road presents a unique opportunity. Based upon current operations, the property is producing an approximate 6% cap rate with below-market-value rents, offering investors immediate cash flow as well as future upside potential. Situated on a level and easy-to-maintain three-quarter-acre corner lot, this well-maintained compound consists of two separate buildings featuring three legal residential units, a detached two-car garage generating separate rental income, an in-ground swimming pool, private well, two septic systems, ample off-street parking, and additional storage opportunities. The main building contains two spacious two-bedroom apartments, while the detached garage building features a one-bedroom apartment above. Two of the residential units are currently occupied by month-to-month tenants, while one apartment will be delivered vacant, creating a unique opportunity for an owner-occupant or providing the ability to lease the unit at current market rental rates. The property has been well maintained and offers multiple income streams through the residential apartments and separate garage rental. The in-ground swimming pool was fully operational during its last season of use and further enhances the property's long-term appeal and value. Conveniently located near shopping, restaurants, recreation, schools, and major commuter routes, this is a rare opportunity to acquire a LEGAL THREE-FAMILY COMPOUND that successfully combines owner-occupant appeal, investment performance, and future flexibility in one complete package. Let's start the conversation!
Details
| MLS # | 990295 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1955 |
| Days On Site | 79 |
| Listing Provided By | Giner Real Estate Inc. | Michael A. Tarallo |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 2,072 |
| Garage | 2 |
| Basement | Y |
| Pool | Yes |
| Units | 3 |
| Acreage | 0.74 |
Interior
| Cooling | None |
|---|---|
| Heating | Oil |
| Interior Features | Open Floorplan |
Exterior
| Construction Materials | Frame |
|---|
Parking
| Garage Yes / No | Yes |
|---|---|
| Parking Features | Detached, Driveway, Garage, Off Street, Parking Lot |
Utilities
| Utilities | Electricity Connected |
|---|---|
| Sewer | Septic Tank |
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Assessed Value | 568200 |
| Tax Annual Amount | 17320 |
Area Information
| State | NY |
|---|---|
| County | Putnam County |
| City | Mahopac |
| Zip Code | 10541 |
| School District | Mahopac High School |
| Elementary School | Austin Road Elementary School |
| High School | Mahopac High School |
| Listing VS Median (in 10541) | |
Price: $875,000 low | high Med: $650,000 sqft: 2,072 low | high Med: 1,940 $ / sqft: $422 low | high Med: $336 On site: 79 low | high Med: 57.5 | |
Market Activity 10541
Request a showing
Request a showing
Contact
Learn More About This Property
| State | NY |
|---|---|
| County | Putnam County |
| City | Mahopac |
| Zip Code | 10541 |
| School District | Mahopac High School |
| Elementary School | Austin Road Elementary School |
| High School | Mahopac High School |
| Listing VS Median (in 10541) | |
Price: $875,000 low | high Med: $650,000 sqft: 2,072 low | high Med: 1,940 $ / sqft: $422 low | high Med: $336 On site: 79 low | high Med: 57.5 | |
