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$ 559,000
Est. payment | /mo
5 Baths
3,600 SqFt
$ 559,000
Est. payment | /mo
5 Baths
3,600 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,600 sqft
Price per Sqft $155
MLS Listing ID 11968354
Full Baths 5
Year Built 1950
Annual Tax Amount $4,097
Property Description
call or text (5I8) 573-8OI8 *** Prime Downtown Albany Multifamily | High-Yield 9.6% Cap Rate Strong Financial Yield: Operating at a proven 9.6% Cap Rate, significantly outperforming regional market averages. Optimal Unit Mix: Five high-occupancy, easily rentable units designed to maximize monthly gross potential rent. All units currently occupied. Premium Downtown Location: Steps from State Capital buildings, SUNY Downtown campuses, major hospitals, and the vibrant Lark Street entertainment district. High Tenant Demand: Perfect walk-ability ensures a steady pipeline of young professionals, state workers, and student renters. Property Highlights: -Value-Add Potential: Immediate cash flow with room for organic rent growth as leases renew. -Strong Rental History: Low historical vacancy rates with an established, reliable tenant base. -Separate Utilities for each unit's gas and electric; Owner pays Heat and Hot water, so only one boiler and one HW heater to maintain. All mechanicals solid. -Certificates of Occupancy: all current through 10/2027 -Investor Packages Ready: Full rent roll and a detailed pro forma are available upon request for qualified buyers. Exceptional opportunity to acquire a high-performing, turnkey 5-unit multifamily property nestled in the heart of Downtown Albany. Delivering a 9.6% Capitalization Rate on current financials, this asset offers an immediate, robust cash-flow engine for your portfolio from Day 1. Offered at $559,000. Freshly painted, always rented, solid brick 5 family with current certs of occupancy on a quiet street only a block from center square! Directly behind the public library on Washington Ave. Owner pays heat and hot water. Tenants pay their own electricity and cooking gas via separate metering. Heating is a boiler in great shape and Hot water heater only a few years old. All new replacement windows throughout. No owner financing. Please no Real estate listing agents. ***** SHOWING REQUESTS & QUESTIONS: https://www.moreinfo.media/26750b03-4783-4c3e-9c6e-fddc65e6ea67
Location
State NY
County 36001
Rooms
Basement Full
Dining Room 0
Kitchen 0
Building
Sewer Municipal
Water Municipal
Structure Type Masonry - Brick
Others
NEARBY SCHOOL & BUSINESS