Exceptional opportunity to acquire a high-performing, turnkey multifamily property nestled in the heart of Downtown Albany. Delivering a rare 9.2% Capitalization Rate on current financials, this asset offers an immediate, robust cash-flow engine for your portfolio from Day 1. Offered at $584,000.
Freshly painted, always rented, solid brick multi family with current certificates 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. Proof of Financing required to see property. ($125,000 min.)
Investment Opportunity:
Strong Financial Yield: Operating at a proven 9.2% Cap Rate, significantly outperforming regional market averages.
Premium Downtown Location: Steps from State Capital buildings, SUNY Downtown campuses, major hospitals, and the vibrant Lark Street entertainment district.
High Tenant Demand: Perfect walkability 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.
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.