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.
Property Type(s):
Multi Family
|
Last Updated
|
9/17/2025
|
Year Built
|
1900
|
|
Garage Spaces
|
3.0
|
County
|
Albany
|
SCHOOLS
Additional Details
| BASEMENT |
Finished, Yes |
| CONSTRUCTION |
Vinyl Siding |
| EXTERIOR |
Other |
| GARAGE |
Yes |
| HEAT |
Natural Gas |
| LOT |
9148 sq ft |
| LOT DIMENSIONS |
0.21 |
| SEWER |
Public Sewer |
| STYLE |
Apartment 4 Plus Unit |
| TAXES |
20972.55 |
| UTILITIES |
Sewer Connected |
| WATER |
Public |
Location
This listing courtesy of Carrow Real Estate Services LLC
Listing information is deemed reliable, but not guaranteed.
This IDX solution is (c) Diverse Solutions 2025.
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