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Listed by David L White • Owner Entry.com

$ 449,000

Est. payment -/mo

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85 S Lake Avenue Albany, NY 12203

6 Beds

4 Baths

2,036 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,036 sqft

Price per Sqft $220

MLS Listing ID 202628433

Bedrooms 6

Full Baths 4

HOA Y/N No

Year Built 1897

Annual Tax Amount $5,698

Lot Size 2,613 Sqft

Acres 0.06

Property Sub-Type Duplex

Source Global MLS

Property Description

85 South Lake Ave is a unique two-family duplex rowhouse located in one of Albany's best rental corridors - directly on Washington Park. Each apartment has two floors of living space, three bedrooms and two full bathrooms each. The total living space is 2,639 sq. ft. Both units have been renovated and updated. Major improvements include; new water and sewer lines, plumbing, kitchens, updated electrical, new windows, added insulation, newly painted, new exterior stairs, washer and dryer hook-ups, motion senser lighting, new and updated bathrooms. The main roof and furnace are approximately 10 years old. Front porch and kitchen roof are less than two years old. Each unit includes large rooms and closets, comfortable living spaces, ample natural light and functional layouts. The utilities are not split and have never been a cost or convenience issue. The building is incredibly efficient, being a row house with new insulation and windows. This building is a great turn-key investment opportunity - ready to rent or for owner occupied. Gross annual rental revenue is over $51,000. Both units are currently vacant due to renovation, creating the rare opportunity for the owner to place their own tenants at current market rates to maximize cash flow. The prime location makes renting easy - 98% occupancy rate over the last 30 years. On-street parking is readily available at all hours - most of the row houses have off-street parking. Off-street parking is possible with City of Albany approval.

Location

State NY

County Albany

Direction on S Lake Ave, just off of Rte 20

Interior

Heating Hot Water, Zoned

Fireplaces Number 1

Fireplace Yes

Exterior

Exterior Feature Other

Roof Type Rubber,Shingle,Asphalt,Fiberglass

Porch Porch

Building

Sewer Public Sewer

Water Public

Architectural Style Other

Schools

School District Albany

Others

Tax ID 010100 65.70-2-32

Special Listing Condition Standard

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Samantha Kettlewood

NYS Licensed Real Estate Salesperson

+1(518) 810-9013 | sam@empirerealestatefirm.com

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