354 Montauk Ave

Exceptional Income-Producing Two-Family Home in New Lots

A unique opportunity to live, earn, and invest in a beautifully maintained legal two-family brick home with an established furnished rental operation.

Offering approximately 3,000 square feet of living space, the property combines a spacious owner-occupied garden level with income-producing upper floors configured with multiple private bedrooms. Since 2018, the current owner has successfully operated the furnished rental business with approximately $115K gross income and a strong history of long-term professional tenants. The established rental performance provides immediate income potential, with additional upside for the next owner. Detailed financials, including historical and projected income, are available upon request.

The property has also benefited from substantial capital improvements, including a new roof with solar panels (2021), updated plumbing and electrical systems, a new boiler (2024), and new central heating and air conditioning (2025). A solar tax abatement further contributes to remarkably low annual property taxes.

Additional Highlights

• Legal two-family brick home
• Approx. 3,000 SF of living space
• Owner-occupied garden level with additional income potential
• Established furnished rental operation with approx. $115K gross income.
• Private backyard
• Extensive recent capital improvements
• Energy-efficient solar panel system with tax abatement
• Ideal for investors or owner-occupants seeking to offset carrying costs with rental income

Whether you're seeking a turnkey income-producing investment or a home where rental income can help offset the cost of ownership, 354 Montauk Avenue offers a compelling combination of flexibility, established income, and long-term value.