514 and 516 Main Street, Montague, represent a premier income-generating and development opportunity at the busiest intersection in King?s County. Set on 1.58 acres with dual access points from Main Street and Queens Road Extension, the property is uniquely positioned for visibility, accessibility, and future growth. The site includes two well-maintained residential buildings offering 23 fully rented units: 18 one-bedroom apartments and 5 two-bedroom apartments. 514 Main Street is a three-level structure with 16 residential units on the upper floors and a vacant ground floor, primed for conversion into commercial or office space to unlock additional income potential. 516 Main Street, also three levels, comprises 7 residential units and generates consistent rental income. Strategically positioned toward the rear of the property, the buildings allow for significant development on the remaining land. With zoning flexibility and unmatched visibility, this site offers vast potential for additional residential, commercial, or mixed-use projects, meeting the demands of Montague?s expanding market. 514 and 516 Main Street offer an established revenue stream with extraordinary upside for forward-thinking investors or developers seeking to make a substantial impact in a rapidly growing region. (id:47421)
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Detailed Information
Amenities Nearby
Recreation, Shopping, Marina
Community Features
School Bus
Equipment
None
Listing Contract Date
2024-12-05
Municipal ID
432674
Ownership Type
Freehold
Property Type
Multi-family
Rental Equipment
None
Transaction Type
For sale
Zoning
Multi-Family
Building
Appliances
Stove, Dryer, Washer, Refrigerator
Basement Type
Unknown
Exterior Finish
Wood shingles, Vinyl
Flooring Type
Carpeted, Tile, Vinyl, Other
Foundation Type
Poured Concrete, Unknown
Heating Fuel
Oil
Heating Type
Furnace, Radiator
Stories Total
3
Type
Apartment
Utility Water
Municipal water
Parking Spaces
Name
Spaces
Gravel
Parking Space(s)
Land
Total Size
1.58 acres
Acreage
Yes
Amenities
Recreation, Shopping, Marina
Sewer
Municipal sewage system
Size of Irregular Land
1.58
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