- Bedrooms: 5
- Bathrooms: 3
- Size: 258.46 m²
- Price: $1,550,000
This legal three-unit multifamily property, ideally situated in the heart of Hampton Bays, presents an exceptional investment and development opportunity on a generous 0.74-acre lot. The two-story, 2,777 sq ft residence features 5 bedrooms and 3 full bathrooms, thoughtfully configured to generate consistent rental income, with all units currently occupied by tenants and featuring separate meters. As tenants pay for all utilities, the asset maintains extremely low operating expenses, providing immediate cash flow and long-term security. Strategically located just minutes from the area's vibrant shopping, dining, and world-class beaches, the property benefits from high year-round demand. Furthermore, the expansive lot and the positioning of the existing home offer significant redevelopment potential, including the possibility of adding additional structures or accessory dwelling units to further enhance rental income and overall value. Whether looking to expand a portfolio or seeking a high-yield asset in the gateway to the Hamptons, this legal multifamily property delivers on location, income stability, and future growth potential.