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611-620 N Pearl St 20 Unit Apartment Building $2,795,000 ($139,750/Unit) 9.11% Cap Rate Albany, NY 12204
INVESTMENT HIGHLIGHTS
- (2) - 10 unit buildings
- Perfect condition
EXECUTIVE SUMMARY
Over 9% Cap Rate!!!! This 20 unit apartment building is in a prime Menands location and offers a great opportunity for investors. Room to grow rents! The units are all in excellent condition, most with new appliances and renovated bathrooms and kitchens with granite countertops. All units have hardwood floors with the majority having been recently refinished. The building is well maintained and offers a secure and high quality living environment. With a variety of room sizes and amenities, this building offers something for everyone New boilers (2016 & 2024) have been installed for heat efficiency, all separate electric at tenant expense. Brand new laundry with 8 new coin operated machines. Nothing left to do here but collect rent.
DATA ROOM Click Here to Access
- Operating and Financials
PROPERTY FACTS
| Price | $2,795,000 | Building Class | C |
| Price Per Unit | $139,750 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 12,696 SF |
| Cap Rate | 9.11% | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1930/2023 |
| Property Subtype | Apartment | Parking Ratio | 10/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R2A | ||
| Price | $2,795,000 |
| Price Per Unit | $139,750 |
| Sale Type | Investment |
| Cap Rate | 9.11% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 12,696 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1930/2023 |
| Parking Ratio | 10/1,000 SF |
| Zoning | R2A |
AMENITIES
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
| 2+1 | 10 | - | - |
1 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $714,300 | |
| Land Assessment | $24,000 | Total Assessment | $738,300 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$24,000
Improvements Assessment
$714,300
Total Assessment
$738,300
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611-620 N Pearl St
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