Property Description

HIGH-YIELD INVESTMENT PROPERTY - THREE (3) UNITS / bungalows in prime City Island location - on the lovely Tier Street with water views! Only steps to the water, and a private beach - exclusive to Tier Street residents only, see included photo.Make this your primary or weekend home on the water, only 22 minutes from Manhattan, and offset your mortgage by renting out the other two units. Or, rent out all three for positive cash flow and with tenants paying off your mortgage. PRICE REDUCED TO SELL. APPRAISED AT $845,000.Tier Street is a favorite street on City Island; tranquil and beautiful, with excellent proximity to all of City Island's conveniences. At this location you can also escape any popular summer day/evening City Island Avenue traffic, driving to and from 32 Tier Street - as locals do- on side streets.City Island is one of the most wonderful and unique places to live & enjoy with amazing proximity to Manhattan. Where else in NYC can you buy THREE units steps from the water - with private beach access - in this price range!!? Whether 32 Tier Street will serve as your primary / secondary home, or purely as an investment - it is safe to say that any property located at this proximity to the water, and Manhattan, is bound to keep appreciating in value at an exciting rate. It is the very reason, along with our low taxes and friendly community - that I myself own two properties on City Island.At 32 Tier Street, the two side-by-side units - one studio & one one-bedroom - have been renovated and are turnkey ready to use or rent out right away. The separate cottage in the rear needs some TLC and is perfect for you to bring your own style and updates - making it your very own private sanctuary. Perhaps raise the ceiling, add a roof deck, add another bedroom using the available FAR.. No matter what your needs are - come see this very special property and let your mind wander beyond the ordinary!Note that the recorded square footage does not include the rear Cottage; the total LIVABLE SPACE is approximately 1500 SQUARE FEET, divided into three separate units (floor plan included). And the LOT SIZE is a generous 3200 SQUARE FEET (32x100).32 Tier Street is registered as 32-34 Tier Street, as well as 32A, 32B and 32 REAR Tier Street. Sold as is. Delivered vacant, or with one tenant. Very low taxes (only $5453 / year), and no flood insurance required! Despite its awesome proximity to the water, 32 Tier Street sits at a higher elevation point.CONTACT THE LISTING AGENT DIRECTLY WITH QUESTIONS, AND TO

Property Features