41304 Castle View Ln, Hammond, NY 13646

Fantastic Investment and Development Opportunity Overlooking Singer Castle and the St. Lawrence River.

The nearly 35 acre property currently consists of a 4-unit apartment building with a separate office, 4 townhomes, and a well house. The sale includes land located between Dubois Rd and NYS Route 12 along with land below Dubois Rd and on either side of Fitton Rd going towards the water (see below for tax map numbers).

The current owner is working with a surveyor to develop approximately twenty more lots above and below Dubois Rd. This is a multi-year process but has lots of potential! The owner would prefer to sell everything to one buyer as a package, but will consider splitting and selling off individual townhomes, apartment building, and lots.

Location: The property is located 16 minutes northeast of Alexandria Bay and 9 minutes northwest of the Town of Hammond. The property has amazing views of the St Lawrence River and the famous Singer Castle on Dark Island. Blind Bay Marina is around the corner, just down Dubois Rd. The property does not have water access or rights, but does have stunning views of the river.

The sale is to include several parcels that, added together, total 34.45 acres.

The tax IDs are as follows:
111.078-4-1: 150 Dubois Rd - 4-Unit Apartment Building with Office Unit
111.078-4-2: Off Dubois Rd - Well Pump House
111.078-4-4: 9 Castle View Ln - Townhouse #9 - 3 Bed, 3.5 Bath - High-end finishes with elevator. Airbnb Rental.
111.078-4-5: 8 Castle View Ln - Townhouse #8 - 3 Bed, 2.5 Bath - Studs & Roughed-in
111.078-4-6: 7 Castle View Ln - Townhouse #7 - 3 Bed, 2.5 Bath - Currently Rented for $1,750/month
111.078-4-7: 6 Castle View Ln - Townhouse #6 - 3 Bed, 2.5 Bath - Currently Rented for $1,350/month
111.078-4-3: 10-30 Castle View Ln - Vacant 4.2 Acres surrounding the Townhomes
111.078-4-8: 1-5 Castle View Ln - 1.8 Acres in front of Townhomes
126.001-9-1.13: Dubois Rd - Vacant 10.70 Acres
126.001-9-1.22: Dubois Rd - Vacant 5.7 Acres
126.001-9-1.214: Dubois Rd - Vacant 8 Acres
126.001-9-1.212: Fitton Rd - Vacant 1.4 Acres
126.001-9-1.213: Fitton Rd - Vacant 1.4 Acres

Apartment Building: The apartment building consists of four units. There is a fifth "unit" that is currently vacant on the end of the building that the current owner has utilized as an office previously.

• Unit 1: Airbnb Rental

• Unit 2: Rented $850

• Unit 3: Rented $700

• Unit 4: Rented $750

• Office Space: Currently Vacant

Townhomes: There are four total townhomes.

• Townhome #6 has 3 bedrooms, 2.5 bathrooms and is an end unit. It is currently tenant occupied and rented for $1,350/month on a month to month basis.

• Townhome #7 has 3 bedrooms, 2.5 bathrooms and is a middle unit that is currently rented for $1,750/month.

• Townhome #8 is currently roughed-in but construction needs to be finished. It is laid out to be another 3 bedroom, 2.5 bathroom unit in the middle.

• Townhome #9 has 3 bedrooms, 3.5 bathrooms, a finished basement, and an elevator. It is currently vacant. Owner is starting to rent this unit out as a Short-Term Rental/Airbnb. Gross income $14,000 YTD from Airbnb.

Condition: The apartment building has new decks, newer windows, and new siding on the front side of the building. The townhomes were built in 2004. Units 6, 7, and 9 were finished to completion. Unit 8 was never finished and is currently opened up with roughed in mechanicals.

Value-add Opportunities:

• Immediate value-add opportunities could include finishing turnovers on the vacant units and getting them leased up at market rate rent.

• Cleaning up the exteriors and landscaping will add a lot of curb appeal. Some landscaping and exterior painting is currently in process.

• The current owner's original plan called for more six buildings (eight total) with four townhomes in five of the buildings and three townhomes in the last one. It would total 27 total townhomes. This was the plan for the 10.97 Acres located in between NYS Route 12 and Dubois Rd.

• The townhomes are all separate parcels so could be sold individually.

• Further subdivision of land or construction of other uses.

Mechanicals:

• The property currently has a well house with two wells located between the townhomes and NYS Route 12. This well house provides water to the four townhomes and would be able to provide water to future potential buildings as well. Only one of the wells currently has a pump due to there only being four townhomes at the moment. If a new owner builds seven or more townhomes, a utility corporation will need to be formed. Each townhome is metered so the owner can charge tenants or sell individually. The apartment building has its own well.

• There is currently electric service via above ground poles to the property. The poles currently stop at the existing townhomes so would need to be continued for the future buildings. It is metered.

• The property does have septic systems. Each townhome has their own septic system and there is one for the apartment building.

• Both buildings have propane gas. The apartment has an above ground tank and the townhome has a buried tank. The townhome tank is metered.

Other:

• There is an HOA in place and a copy of the bylaws/further information can be provided.

• There are not currently any permits or approvals in place for the additional buildings. Old plans and further information can be provided upon request.

Everything is owned by the same owner and is all being sold in "as-is" condition. Reach out for more information!