Basics
- Date added: Added 2 months ago
- MLS ID: 202610677
- List Office Name: Renovo Real Estate
- List Agent Email: jlohomes518@gmail.com
- List Agent Office Phone: 518-369-4545
- Days On Market: 13
- County: Albany
- Living Area sqft: 3450
- Lot Size Acres: 0.22 acres
- Lot Size Dimensions: 67' x147
- Category: MultiFamily
- Type: Multi Family
- Status: Pending
- Bedrooms: 4
- Bathrooms: 7
- Half baths: 2
- Year built: 1956
- Zoning: Mixed
Description
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Description:
Positioned along a high-visibility corridor in Colonie, this well-maintained mixed-use property delivers immediate cash flow with clear value-add upside. The asset features two street-level commercial spaces with long-term tenants, four one-bedroom apartments, one studio apartment, and a three-bay garage, all supported by ample off-street parking, a rare combination in this location!
The building has been consistently rented, reflecting durable tenant demand. Current rents are below market, presenting a compelling opportunity for an investor to drive NOI through strategic rent optimization while maintaining stability. The roof was replaced approximately ten years ago and the studio was recently renovated.
Total annual rents currently total $61,920 with yearly expenses around $15,000 making the NOI approx $46,920 and a 7.1% Cap rate! Coin Laundry washer and dryer on Premises!
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Directions
- Directions: Route 5, across from Price Chopper at Rt 155
Building Details
- Construction Materials: Block, Vinyl Siding
- Garage Spaces: 3
- Basement: Walk-Out Access
- Architectural Style: Other
Interior Features
Exterior Features
- Parking: Paved
- Exterior Features: None
- Lot Size Units: Acres
- Lot Size Area: 0.22
Amenities & Features
- Sewer: Public Sewer
- Water: Public
Financial
- Possession: At Closing
- Special Listing Conditions: Standard
- Tax Annual Amount: $7,362
- Tax Block: 1
- Tax Lot: 15.000
- Tax Tract: 29.10
School Information
- High School: Colonie Central HS
- High School District: South Colonie
