UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,818 sqft
Price per Sqft $132
MLS Listing ID 202628524
Bedrooms 5
Full Baths 3
HOA Y/N No
Year Built 1948
Annual Tax Amount $2,295
Lot Size 1,742 Sqft
Acres 0.04
Property Sub-Type Duplex
Source Global MLS
Property Description
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!
Location
State NY
County Albany
Direction Manning Blvd--Right on Quail--House on Left
Interior
Heating Forced Air, Natural Gas
Flooring Wood, Carpet, Ceramic Tile, Linoleum
Exterior
Exterior Feature Garden
Utilities Available Cable Available
Roof Type Asphalt
Building
Lot Description Level, Garden
Sewer Public Sewer
Water Public
Architectural Style Traditional
New Construction No
Schools
School District Albany
Others
Tax ID 010100 65.47-3-38
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
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