Discover an exceptional investment opportunity at 316 Fire Island Blvd, nestled in the heart of Fire Island Pines, NY. This meticulously renovated property, originally built in 1956, offers a blend of modern luxury and serene outdoor living across its 1400 sq ft of living space.
Featuring three elegantly designed bedrooms and three fully updated bathrooms, each space within this home has been thoughtfully curated to maximize comfort and style. The heart of the home is its new kitchen, equipped with top-of-the-line appliances and finishes, seamlessly extending into an expansive new outdoor kitchen area, perfect for entertaining and al fresco dining.
The crown jewel of this property is its exceptionally large and private outdoor area. Envisioned for the ultimate in privacy and relaxation, it serves as a personal oasis, ideal for those who cherish their outdoor moments.
Financially, this property stands as a lucrative investment with a sale price of $1,500,000. It boasts an impressive rental revenue of $99,949 for 2024, achieving near 100% occupancy from June through mid-September. With rental rates peaking at $14,500 during holidays and $12,500 in the peak season, the investment potential is significant. The property's annual expenses are efficiently managed, ensuring a profitable return on investment.
Financial Highlights:
2024 Rental Revenue: $99,949
2024 Occupancy: Nearly 100% (June to mid-September)
Peak Season Rates: $14,500 (holidays), $12,500 (peak season)
Annual Expenses
Electric Costs: $4,000
Water Costs: $600
Taxes: $10,017
Property Insurance: $2,300
Flood Insurance: $2,500
Pool Maintenance: $1,600 (May-September)
Housekeeping: $225/week (when occupied)
This offering is not just a home; it's a lifestyle and investment opportunity rolled into one. With its recent high-end renovations, unmatched privacy, and proven rental income, 316 Fire Island Blvd presents a rare chance to own a piece of paradise in Fire Island Pines. Whether as a personal retreat or a strategic investment, this property promises to be a valuable addition to any portfolio.
