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Listed by Rudy R Lynch • Carrow Real Estate Services LLC
$ 1,990,000
Est. payment /mo
New
102 S Lake Avenue Albany, NY 12208
21 Beds
18 Baths
10,263 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,263 sqft
Price per Sqft $193
MLS Listing ID 202526005
Bedrooms 21
Full Baths 18
HOA Y/N No
Year Built 1900
Annual Tax Amount $20,972
Lot Size 9,147 Sqft
Acres 0.21
Property Sub-Type Multi Family
Source Global MLS
Property Description
Turnkey 18-Unit Portfolio - $1,990,000 ($110K/Unit) Rare opportunity to own two adjacent, fully occupied multifamily buildings in Albany's desirable Park South neighborhood. 102 & 106 S Lake Ave feature a combined 18 units across ±10,263 SF on ±0.39 acres, just steps from Washington Park, Albany Medical Center, and the Empire State Plaza. Priced at $1.99M with a 7.01% cap rate based on current rents. Properties are very well maintained with no deferred maintenance. Includes ample off-street parking, a 3-car garage, and coin-operated laundry for additional income. Upside potential through rent increases on below-market units and monetizing parking. Strong rental history makes this a perfect fit for investors seeking stable cash flow and long-term growth in a thriving urban location.
Location
State NY
County Albany
Zoning Multi Residence
Direction S Lake Ave between Washington Ave and Morris St
Interior
Heating Natural Gas
Exterior
Exterior Feature Other
Garage Spaces 3.0
Roof Type Slate,Rubber
Building
Sewer Public Sewer
Water Public
Architectural Style Apartment 4 Plus Unit
Schools
School District Albany
Others
Tax ID 010100 65.77-4-14
Special Listing Condition Standard
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