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(518) 875-2800
Real Estate Company
274 Morton Avenue, Albany, NY 12209
- $439,000
- 9
- BD
- 3
- BA
- 3,699
- SqFt
- List Price
- $439,000
- Price Change
- ▼ $30,000 1793583095
- MLS#
- 202629205
- Style
- Traditional
- Bedrooms
- 9
- Bathrooms
- 3
Property Description
PRICE IMPROVEMENT! Strong-performing 3-family in Albany — pro-forma cap rate of 9.5%+ at the new price. First and third floor units are rented at $1,500/month each ($36,000/year in place). The second-floor unit is delivered VACANT — perfect for an owner-occupant to live in while the other two units cover the mortgage, or lease it at market rent ($1,600-$1,700/month) to maximize income. Total pro-forma gross income of approx. $55,000+/year against total annual expenses of only approx. $13,306. Nine bedrooms total across 3,699 sq ft, three full baths, spacious layouts in every unit. All three units have been renovated within the past 2-3 years — just collect the rent. Great location — directly across from the park and just minutes from Albany Medical Center, Turnkey investment or owner-occupant opportunity — bring your buyers!
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Additional Information
- Taxes
- $8,504
- Acres
- 0.05
- School District
- Albany
- Heating
- Forced Air
- Exterior Features
- Garden, None
- Construction
- Aluminum Siding
- Roof
- Rubber, Flat
- Sewer
- Public Sewer
- Water
- Public
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Listing courtesy of listing agent Qiu Qin Zheng with Gilcrest Properties Brokerage, 845-901-8454.
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