18 UNIT YEAR-ROUND
IN-LINE APARTMENT COMPLEX
in the VILLAGE of WESTHAMPTON BEACH, NY
$7,500,000
WESTHAMPTON BEACH, NY /
MULTI FAMILY
62 Oak St
ABOUT 62 Oak St
$7,500,000
Located on PRIME 1.05 ACRES -
South of the Highway in
luxury demographic of
Westhampton Beach, NY
RENT OVERVIEW
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(18) Individual Gas & Electric Meters;
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(18) Individual Forced Hot Air Heating Units;
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Private Paved Parking; Private Mailboxes;
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Unparalleled WHB VILLAGE location with direct sidewalks leading to new DOWNTOWN WESTHAMPTON BEACH MAIN STREET
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built in 1993
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Masonry Construction
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2 BR apartments each approx 600sq ft
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not in flood zone
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8 minute walk to Starbucks
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3 minute drive to Schools
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5 minute drive to the Beaches
Multifamily properties in Westhampton Beach present a rare opportunity: limited inventory, high average rents, and low vacancy rates in a luxury market setting. With short-term rental regulations being actively managed by the village, well-positioned multifamily homes offer flexibility for both long-term tenants and seasonal leasing strategies.
COMPS 62 Oak St
The multi-family complex at 62 Oak Street features seventeen 2-BR units and one 1-BR unit, offering year-round rentals.
Each 2 BR unit features:
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Size: 600 sq ft
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Layout: 2 bedrooms, 1 bathroom
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Rent: $2,600–$2,700/month
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Lease Term: 12 months
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Utilities: Water and snow removal included; gas and electric are tenant's responsibility
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Amenities: Eat-in kitchen, private entrance, assigned parking
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Restrictions: No pets, no smoking
Comparable Rentals in Westhampton Beach:
​​11 Library Ave. $3,050 Annual 1 BED 1 BATH village center (not renovated)
29 Station Rd. $3,400 Annual 2 BED 1 BATH Single-family home near village (not renovated)
265 Dune Rd. $10,000 Seasonal Waterfront, luxury amenities
260 Dune Rd. $35,000 Seasonal Premium beachfront condo
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A cap rate of 5.62% is solid, especially in a desirable market like Westhampton Beach.
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In premium coastal markets, cap rates typically range 3.5%–5.5%
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Westhampton Beach has strong fundamentals: limited supply, high demand, and zoning protections.
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This supports long-term value appreciation, enhancing overall return through equity growth in addition to rental income.
NEIGHBORHOOD
Restaurant Scene
If you’re considering moving somewhere new, you have to make sure the food is good – and Westhampton definitely does not disappoint in that department! Find everything from lobster rolls, local hole-in-the-walls, or stunning lavish dining experiences. Some great eateries locals rave about are Stone Creek Inn and Dockers Waterside.
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Highly Rated Schools
Westhampton Beach is the perfect place to raise a family and its highly-rated public school system is just one of the reasons. Students and faculty alike speak highly of the school’s ability to prepare students for graduation and college. Ranking among the best high schools in the US, Westhampton Beach High School is an exeptional public school.
Nearby Towns/Neighborhoods:
ABOUT WESTHAMPTON BEACH
Multifamily Investments
Westhampton Beach, located in the heart of Long Island’s renowned Hamptons region, is a vibrant coastal village that blends small-town charm with upscale amenities. Known for its pristine beaches, affluent community, and seasonal tourism, Westhampton Beach offers a unique combination of lifestyle appeal and investment potential.
Westhampton Beach’s combination of high rental demand, strong income demographics, and appealing community features make it a promising location for multifamily real estate investment. Investors can leverage current market conditions to acquire properties with the potential for both steady income and long-term value growth.
The village has undergone significant revitalization in recent years, including upgraded infrastructure, boutique shops, fine dining, and cultural attractions such as the historic Westhampton Beach Performing Arts Center. Its strong appeal as both a year-round residence and a summer retreat drives consistent demand for rental housing across seasons.
Westhampton Beach’s proximity to New York City - just under two hours by car or train - makes it an attractive destination for professionals, retirees, and vacationers. The area benefits from excellent public schools, low crime rates, and a high quality of life, all of which contribute to long-term tenant stability and property value appreciation.
Location Advantage
The Hamptons, including Westhampton Beach tend to maintain high property values even during economic downturns making it an attractive market for investors.
Marinas & White-Sand Beaches
Find grand marinas and magnificent ocean beaches unlike no other in the Hamptons. The Village Marina is an exceptional docking port located just 0.3 miles from the Downtown Shopping District. This quiet and protected basin with spacious slips makes it a splendid location to park your boat. With supermarkets, movie theatres, and beaches, just within a short walk from the marina, The Village Marina is beyond compare.
When you’re looking for a fine day at the beach, Cupsogue Beach at the very end of Dune Road has white sands and great parking. Rodgers Beach is the most popular to visit in Westhampton Beach, brimming with beauty. Westhampton Beach beaches are never terribly crowded and delightful to enjoy on a sunny summer day.
Commute to and from New York City
Westhampton is loved by New Yorkers looking for a lavish summer getaway with beach access and a popular choice for those looking to purchase a second vacation home. You’ll find yourself surfing at a seaside resort just after a convenient 90-minute commute east from the city. What makes Westhampton so alluring to New Yorkers come summertime is the convenient drive out east, especially compared to other locations in the Hamptons that experience congested traffic during this time of year. You can also take the beloved seasonal Cannonball train from May through October from Penn Station or the Jitney at one of its many timely stops.
Market Overview
Market Overview
Median Home Value: As of early 2025, the average home value in Westhampton Beach stands at approximately $1.55 million, reflecting a 5.6% increase over the past year.
Market Conditions: The area is currently characterized as a buyer’s market, with homes selling for about 5% below asking price and an average of 145 days on the market.
Rental Market: The average annual rent is notably high at $46,042, significantly surpassing the national average of $1,968 per month.
Multifamily Investment Potential
Housing Composition: Multifamily units constitute a meaningful segment of the housing stock, with properties of 2 to 4 units making up 4.2% and those with 5 or more units comprising 21.2% of the total housing units.
Occupancy Rates: Approximately 27.7% of homes are renter-occupied, indicating a substantial rental market that supports consistent demand for multifamily housing.
Income Levels: The median household income is $104,519, with an average household income of $184,671, suggesting a financially stable tenant base.
Community & Infrastructure
Population: With a population of around 1,847 and a median age of 50.3, the community balances a mix of retirees and working professionals.
Education: The village is served by the Westhampton Beach Union Free School District, which includes schools rated as good or higher by GreatSchools.
Transportation: Westhampton Beach is accessible via Sunrise Highway (NY 27) and Montauk Highway (CR 80), with additional connectivity provided by the Long Island Rail Road and Hampton Jitney services.
Lifestyle & Appeal
Recreational Amenities: The village offers a blend of natural beauty and recreational facilities, including pristine beaches, parks, and cultural landmarks like the historic Dix Windmill.
Community Character: Known for its charming downtown and community events, Westhampton Beach maintains a vibrant yet relaxed atmosphere that appeals to both residents and visitors.
Investment Considerations
Value Appreciation: The consistent growth in home values indicates a strong potential for long-term appreciation.
Rental Demand: High rental prices and a significant proportion of renter-occupied units suggest robust demand for rental properties, enhancing the viability of multifamily investments.
Market Timing: Current buyer’s market conditions may offer favorable acquisition opportunities for investors looking to enter or expand in this market.