Nestled behind a mature hedge and accessed through a wooden gate, this storybook cottage offers an exceptional opportunity in the heart of Amagansett. Just a short stroll from Main Street's vibrant shops and restaurants, and minutes from the pristine ocean beaches, this property is perfect as a summer retreat or as a site for a new build. The main house features a delightful screened-in porch, one bedroom, one and a half baths, and a spacious, loft-like living room and kitchen area. The kitchen is equipped with modern stainless steel appliances, including a Blue Star range and a wine refrigerator, catering to both everyday living and entertaining needs. The primary bedroom opens onto a rear deck, ideal for relaxing on warm summer afternoons, with ample space for barbecuing and outdoor dining. After a day at nearby Indian Wells Beach, enjoy the convenience of an outdoor shower. Adding to the property's allure is a charming outbuilding, complete with underfloor heating, a wood-burning fireplace, and its own deck. This versatile space is perfect for use as a home office or entertainment area. Whether you envision it as a cozy she-shed, a Hampton's pied-à-terre, or a site for expansion with the potential to add a pool, 40 Oak Lane presents a rare investment opportunity. With its prime location and versatile options, this property promises convenience in one of the most sought-after areas. Don't miss the chance to own a piece of Amagansett's charm and make it your own