1879 Central Avenue Albany, NY 12205
Other
MLS #: 202610583
Courtesy Of Renovo Real Estate
Property InformationDescription
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!
Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Exterior Type: Vinyl Siding
- Exterior Type: Block
- Floor Covering: Vinyl
- Floor Covering: Linoleum
- Floor Covering: Carpet
- Heating System: Baseboard
- Heating System: Hot Water(Heating)
- Heating System: Forced Air
- MLSID: 202610583
- Parking Spaces: 15
- Rooms: Bathroom 6
- Rooms: Bathroom 7
- Rooms: Bathroom 4
- Rooms: Bathroom 5
- Rooms: Bathroom 2
- Rooms: Bathroom 3
- Rooms: Bathroom 1
MAP & DIRECTIONS
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