29-35 Bowen Ct, Carmel, NY 10512

Description

Exceptional investment and development opportunity offering nearly 100 acres across two contiguous parcels with six existing single-family homes, including two waterfront residences situated on a private 5-acre lake. Owned by the same family since 2001, the property was privately occupied until 2016 and is now fully leased, providing immediate income with significant upside potential. All tenants are currently on month-to-month leases, and rents are believed to be below current market rates. The portfolio includes three 3-bedroom homes, two 5-bedroom homes, and one 6-bedroom home. Current gross rental income is $15,600 per month, with rents remaining largely unchanged for many years. Additional features include shared well water and septic systems, a private dead-end road setting, and substantial undeveloped acreage. The property is currently approved for single-family residential use and presents a rare opportunity for investors, developers, builders, or end users seeking a private compound, income-producing asset, or future development potential. Buyers are encouraged to conduct their own due diligence regarding zoning, subdivision possibilities, and development opportunities.