515 Montauk Highway, East Hampton, NY 11937

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$8,900,000 List Price
Off Market
 
Listing ID 11159304
Property Type Multi-Unit (5+)
County Suffolk
Township East Hampton
Total Tax $23,852
Tax ID 0300-169.000-03.00-001.000
FEMA Flood Map fema.gov/portal
Year Built 1950
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The Hamptons Multifamily Rentals - Fieldstone at East Hampton

• Fieldstone at East Hampton offers a truly rare opportunity to acquire a multifamily apartment community in The Hamptons, one of the most sought-after asset classes and geographic regions in the entire United States. Affordable rental housing is in very high demand for those employed in the region, as well as those seeking an affordable home base in which to live and play in The Hamptons. The property also has more than ample grade level parking that is very appealing to the tenant base.
Property Details
  • 1.48 Acres
  • Built in 1950
  • Renovated 2022
  • 1 Story
  • Available 3/08/2023
  • Partial Basement
  • Lower Level: Unfinished
  • Renovation: The property had previously operated as a motel and has been converted to multifamily rental by the present ownership who has invested +/-$1,500,000 in a capital improvement program between 2020-2022 including significant interior and exterior renovations
Unit Information
Occupied
Exterior Features
  • Frame Construction
  • 2 Garage Spaces
  • Municipal Water
Community Details
  • Low-rise (Bldg. Style)
Commercial Info
  • Fieldstone at East Hampton (Business Name)
  • 30 Parking Spaces
Income/Expenses
  • Gross Income $563,926
  • Net Income $468,880
  • Total Exp $95,047
  • Paid by Landlord: Insurance, Ord. Maint., Struct. Maint., Ground Maint.
Taxes and Fees
  • $23,852 Total Tax
Previously Listed By
SELECT REAL EQUITY ADVISORS LLC
Office: 631-271-4300
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