50 Old Orchard Ln, East Hampton, NY 11937, USA

Description

Rare Investment Opportunity
PRICED TO BE SOLD AS IS Power Point presentation link: https://1drv.ms/p/s!AnF0rIEWfCMV4BlRJRj4NscTYwEZ?e=aFugXK The Subdivision: Old Orchard is a 38 lot development surrounded by reserves in perpetuity, deeded to Old Orchard Property Owners Association (OOPOA). Located 1.5 miles from the center of the village of East Hampton in a serene & tranquil country setting. The Lot: 1.531 acres with an adjacent .412 acre reserve that buffers Hand Creek road. The House: PROS: -The original duct work, HVAC, Hot Water Heater, well pump and holding tank have been upgraded and replaced Amenities include: 500 gallon propane tank, multi zone expandable irrigation system, and alarm system. CONS: Requires the following: new roof, the pool needs to be rebuilt (Quote $17,000), new decks, Kitchen and baths need to be completely renovated, buried oil tank True investment opportunity with several options as follows: 1. Knock down and build 2. Restore the house to it's original unique architectural design created by a renowned architect. 3. Restore with modifications adding a bath and a half,renovate existing kitchens and baths, restore pool, new decks and new roof (approx. cost $300,000). 4. The house has excellent expansion possibilities with designs by a well known Build & Design company (that are available) which includes: 4 bedroom suites, 4.5 baths, 3 fireplaces, 3 car garage, new pool in a new location with an adjacent outdoor kitchen, fireplace and entertaining deck. All four options offer an excellent risk/reward scenario There is a power point available with more details and Comparative Market Analysis information: Power Point presentation link: https://1drv.ms/p/s!AnF0rIEWfCMV4BlRJRj4NscTYwEZ?e=aFugXK