44 Quail, Albany, NY 12206

Property Description

Investment Opportunity! Large Extra Lot in the Heart of Albany! Discover income potential and room to grow with this centrally located two-family property situated on a corner lot and featuring a large adjoining vacant lot. The vacant first-floor unit offers three bedrooms and was previously rented for $1,200/month, making it ready for an owner-occupant or a new tenant at an updated rental rate. The second-floor unit features two bedrooms and is currently tenant-occupied, generating $1,100/month in rental income. The third floor offers the potential for an additional rental unit, with estimated rental income of $1,000/month, subject to necessary improvements and municipal approvals. Income Potential: Second Floor: $1,100/month (current rent) First Floor: $1,200/month (previous rent; currently vacant) Third Floor: $1,000/month (estimated, subject to approval) Total Potential Gross Income: $3,300/month or $39,600 annually, before expenses, with additional upside through updated rents. For an owner-occupant, the second-floor rental income can help offset the mortgage. Investors will appreciate the opportunity to increase cash flow and build equity. Cosmetic updates provide the chance to refresh the property and add value. As an added incentive, the seller is offering a $5,000 credit at closing toward repairs or improvements. With its central Albany location, existing rental income, vacant three-bedroom unit, potential for a third rental unit, and large additional lot, this property is full of possibilities. Schedule your showing today!