$1,990,000
Albany, NY 12208
MLS# 202526005
Status: Pending
21 beds
1 / 68
Property Description
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.
Details
Maps
Documents
Contract Information
Original List Price: 1990000
List Price/SqFt: 193.9
Status: Pending
Property Sub Type: Multi Family
List Price: $1,990,000
Current Price: $1,990,000
Listing Contract Date: 2025-09-17
Location
City/Town (Mail): Albany
Cross Street: Washington Avenue
Street Number: 102
Street Direction Prefix: S
Street Name: Lake
Street Suffix: Avenue
County: Albany
State/Province: NY
Postal Code: 12208
Geo Lat: 42.657212
Geo Lon: -73.777684
Property Detail
Number Of Units Total: 18
Rooms Total: 56
Bathrooms Half: 0
Garage Spaces: 3
Above Grade Finished Area: 10263
Above Grade Finished Area Source: Public Records
Parking Y/N: Yes
Below Grade Finished Area: 4672
Below Grade Finished Area Source: Public Records
Living Area: 10263
Zoning: Multi Residence
Lot Size Acres: 0.21
Waterfront Y/N: No
Enhanced Accessible Y/N: No
Bedrooms Total: 21
Bathrooms Full: 18
Year Built: 1900
Status Change Info
Proposed Closing Date: 2026-05-01
Status Change Date: 2026-02-13
Under Contract Date: 2026-02-11
Parcel, Tax, HOA
Parcel Number: 010100 65.77-4-14
Tax Annual Amount: 20972.55
Tax Section: 65.77
Total Taxes Description: See Remarks
Tax Block: 4
Tax Lot: 14.000
School District: Albany
High School: Albany
Association Y/N: No
Directions & Remarks
Directions: S Lake Ave between Washington Ave and Morris St
Public Remarks: 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.
Sewer
Public Sewer: 1
Architectural Style
Apartment 4 Plus Unit: 1
Basement
Finished: 1
Bath Levels
Full Bath 1: 1st
Full Bath 2: 1st
Full Bath 3: 1st
Full Bath 4: 1st
Full Bath 5: 1st
Full Bath 6: 2nd
Full Bath 7: 2nd
Full Bath 8: 2nd
Full Bath 9: 3rd
Full Bath 10: 3rd
Construction Materials
Vinyl Siding: 1
Photos - the contractual owner of the photos
Photo Owner: Broker
Possession
At Closing: 1
Exterior Features
Other: 1
Showing Requirements
Agent to Accompany: 1
Call Listing Agent: 1
Special Listing Conditions
Standard: 1
Roof
Rubber: 1
Slate: 1
Water Source
Public: 1
Heating
Natural Gas: 1
Parking Features
Parking Total: 9
Separate Utilities
Electric: 1
Gas: 1
Multi-Family Unit 1 Detail
Unit Location MF Unit 1: 1
Total Rooms MF Unit 1: 3
Total Bedrooms MF Unit 1: 1
Total Full Baths MF Unit 1: 1
Multi-Family Unit 2 Detail
Unit Location MF Unit 2: 2
Total Rooms MF Unit 2: 3
Total Bedrooms MF Unit 2: 1
Total Full Baths MF Unit 2: 1
Multi-Family Unit 3 Detail
Unit Location MF Unit 3: 3
Total Rooms MF Unit 3: 3
Total Bedrooms MF Unit 3: 1
Total Full Baths MF Unit 3: 1
Multi-Family Unit 4 Detail
Unit Location MF Unit 4: 4
Total Rooms MF Unit 4: 3
Total Bedrooms MF Unit 4: 1
Total Full Baths MF Unit 4: 1
Multi-Family Unit 5 Detail
Unit Location MF Unit 5: 5
Total Rooms MF Unit 5: 3
Total Bedrooms MF Unit 5: 1
Total Full Baths MF Unit 5: 1
Multi-Family Unit 6 Detail
Unit Location MF Unit 6: 6
Total Rooms MF Unit 6: 3
Total Bedrooms MF Unit 6: 1
Total Full Baths MF Unit 6: 1
Multi-Family Unit 7 Detail
Unit Location MF Unit 7: 7
Total Rooms MF Unit 7: 3
Total Bedrooms MF Unit 7: 1
Total Full Baths MF Unit 7: 1
Multi-Family Unit 8 Detail
Unit Location MF Unit 8: 8
Total Rooms MF Unit 8: 3
Total Bedrooms MF Unit 8: 1
Total Full Baths MF Unit 8: 1
Property Features
Architectural Style: Apartment 4 Plus Unit
Basement: Finished
Construction Materials: Vinyl Siding
Exterior Features: Other
Heating: Natural Gas
Possession: At Closing
Roof: Rubber; Slate
Separate Utilities: Electric; Gas
Sewer: Public Sewer
Showing Requirements: Agent to Accompany; Call Listing Agent
Special Listing Conditions: Standard
Water Source: Public
Offering Memorandum 
Listing Courtesy of Carrow Real Estate Services LLC
Listing Agent: Rudy R Lynch
518-337-3705 | rudy@carrowrealestate.com
518-337-3705 | rudy@carrowrealestate.com
