$559,000

169 Elk St, Albany NY, 12210

Price per sqft$155.28

Built in1950

Property size3,600 sqft

Property typeCommercial

Overview

Active

Updated 4 min ago

call or text (5I8) 573-8OI8 *** Prime Downtown Albany Multifamily | High-Yield 9.6% Cap Rate Strong Financial Yield: Operating at a proven 9.6% Cap Rate, significantly outperforming regional market averages. Optimal Unit Mix: Five high-occupancy, easily rentable units designed to maximize monthly gross potential rent. All units currently occupied. Premium Downtown Location: Steps from State Capital buildings, SUNY Downtown campuses, major hospitals, and the vibrant Lark Street entertainment district. High Tenant Demand: Perfect walk-ability 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. -Separate Utilities for each unit's gas and electric; Owner pays Heat and Hot water, so only one boiler and one HW heater to maintain. 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. Exceptional opportunity to acquire a high-performing, turnkey 5-unit multifamily property nestled in the heart of Downtown Albany. Delivering a 9.6% Capitalization Rate on current financials, this asset offers an immediate, robust cash-flow engine for your portfolio from Day 1. Offered at $559,000. Freshly painted, always rented, solid brick 5 family with current certs 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. Please no Real estate listing agents. ***** SHOWING REQUESTS & QUESTIONS: https://www.moreinfo.media/26750b03-4783-4c3e-9c6e-fddc65e6ea67

Additional information

MLS^® ID: 11968354

Interior Features

Bedrooms: 0
Bathrooms: 5
Heating: Yes
Basement: No

Other Property Details

Taxes: $4,097
Tax Frequency: Annually

Courtesy of Statewide Properties LLC with ,
Listing Contact:

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