Presenting a rare investment opportunity in Hampton Bays, this waterfront multifamily compound offers direct Shinnecock Bay views on Penny Pond with 80 feet of frontage, a 40-foot dock, and sandy beach access. Situated on 0.44 acres, the property features multiple income-producing structures, including a two-bedroom, two-bath main house with cathedral ceilings, a gourmet kitchen, and a living room with a fireplace. The asset also includes a two-bedroom cottage and a one-bedroom studio located above a detached two-car garage, with several units separately metered to provide flexibility for year-round rental income. Architectural plans and approvals are already in place to renovate and expand existing structures, which include a separate guest cottage and an 18-foot-by-36-foot gunite pool. Key property features include extensive landscaped grounds with a sprinkler system. This versatile property allows investors to reposition it as a boutique rental compound, operate it as a seasonal retreat, or redevelop it into a luxury waterfront estate. Located just minutes from ocean beaches at the gateway to the Hamptons, both homes are also available for lease.
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