48 - 50 Horseshoe Lake 5 Unit Apartment Building $901,563 CAD ($180,313 CAD/Unit) 8% Cap Rate Kauneonga Lake, NY 12749

Exceptional 5-Unit Investment Opportunity in the Heart of Kauneonga Lake!
Don't miss this rare chance to acquire a fully vacant, investment property near one of Sullivan County's busiest lakes. 48-50 Horseshoe Lake Road consists of two adjacent parcels being sold together, offering a total of five residential rental units across four buildings. The package includes a side-by-side duplex at 48 Horseshoe Lake Road and a three-bedroom main house with two-year-round cabins at 50 Horseshoe Lake Road. Also included with the sale is a 15-foot-wide lakefront parcel on White Lake, providing private dock space and direct access to enjoy boating, fishing, swimming, and all that this sought-after motorboat lake has to offer.
Extensive renovations have been completed throughout the property, including major updates to the duplex and main house, creating a turnkey investment opportunity with strong rental appeal. Located directly across from the lake and just moments from the shops, restaurants, and attractions of Kauneonga Lake, the property benefits from a highly desirable location that consistently attracts tenants. Its proximity to Resorts World Catskills, The Kartrite Resort & Indoor Waterpark, and the Center for Discovery further enhances rental demand and long-term investment potential.
The main house offers three bedrooms, one and a half bathrooms, and classic mid-century charm throughout. The spacious first floor features a large living room, formal dining room, and oversized kitchen with access to a rear deck. Upstairs are three generously sized bedrooms and a full bathroom. Hardwood floors, high ceilings, abundant natural light, and large room sizes create a warm and inviting living environment. An unfinished basement provides laundry facilities, storage space, and updated mechanicals, including a newer boiler and oil tank.
Located behind the main house are two year-round cabins. Cabin 50B is a comfortable one-bedroom unit featuring a large foyer, in-unit washer and dryer, spray foam insulation, and its own electric meter. Cabin 50C is a recently renovated studio offering vinyl plank flooring, shiplap ceilings, a kitchenette with granite countertops and an island, a new bathroom, new windows, and a covered front deck. Additional upgrades include spray foam insulation beneath the cabin. The studio is serviced through the main house electric meter.
The duplex at 48 Horseshoe Lake Road features two separate one-bedroom apartments, each with its own private entrance, individual electric meters, and off-street parking. Recent renovations have further increased the property's appeal and functionality.
White Lake is a 280-acre motorboat lake and one of the Catskills' premier recreational destinations. Residents enjoy easy access to lakeside dining, boutique shopping, boating, seasonal farmer’s markets, and year-round entertainment at nearby Bethel Woods Center for the Arts. Whether you're looking to expand your portfolio with a proven income-producing asset or invest in one of the region's most desirable lake communities, this property presents an outstanding opportunity.