102 S Lake Avenue, Albany, NY 12208
102 S Lake Avenue, Albany, NY 12208
102 S Lake Avenue, Albany, NY 12208
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Listed by Rudy R Lynch • Carrow Real Estate Services LLC
$1,990,000
Est. payment /mo
21 Beds
18 Baths
10,263 SqFt
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Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Pending

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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Erin Steinbach

Erin Steinbach

+1(518) 222-6031

Lic. Associate R. E. Broker | License ID: 10301217507

Lic. Associate R. E. Broker License ID: 10301217507

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