695 State Street, Albany, NY 12203 (MLS # 202628110)

Excellent Albany 3-unit investment opportunity at 695 State Street! This well-maintained property offers three separate apartments with approximately 1,976 square feet of living space plus a full basement. The first-floor 3-bedroom apartment features hardwood floors and a front porch and is currently leased at $1,450/month. The second-floor studio with enclosed porch is leased at $850/month. The second-floor 2-bedroom apartment is currently vacant, offering an immediate opportunity for an owner-occupant or additional rental income.Major updates include a 2014 renovation with approximately 90% of the structure gutted and updated, including new electrical wiring, insulation, sheetrock, kitchens, bathrooms, windows, exterior doors, and three heating systems. New siding was installed in 2012 and a new roof in 2023.The property consists of two tax parcels conveyed together under one deed and includes a detached 2-stall garage located at 172 Spring Street. The Spring Street garage presents additional income potential through possible garage rentals or the potential conversion to a studio apartment, subject to zoning, municipal approvals, and applicable permits. Garage sold As Is.A strong opportunity for an investor looking to maximize rental income or an owner-occupant seeking additional rental income. Potential gross rental income when fully occupied: approximately $42,000 annually.

Last Updated	10/13/2026	Year Built	1900
Garage Spaces	2.0	County	Albany

SCHOOLS

Elementary School	Philip J. Schuyler Achievement
High School	Albany

Additional Details

AIR	None
BASEMENT	Full, Unfinished, Yes
CONSTRUCTION	Vinyl Siding
GARAGE	Yes
HEAT	Baseboard, Natural Gas
INTERIOR	High Speed Internet
LOT	3485 sq ft
LOT DESCRIPTION	Cleared
LOT DIMENSIONS	25X140
PARKING	Off Street, Detached, Driveway, Garage
SEWER	Public Sewer
STYLE	Traditional
TAXES	5961
UTILITIES	Cable Available, Sewer Connected
WATER	Public

Location

 

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