$325,000
Albany, NY 12203
MLS# 202530845
Status: Pending
6 beds
1 / 42
Property Description
Turnkey Two-Family Investment Opportunity in the Heart of Albany. Welcome to 27 N Lake Ave, a well-maintained and updated two-family property offering two spacious 3-bedroom, 1-bath units, each featuring in-unit washer and dryer, stone countertops, and modern finishes throughout. The property has a proven rental history, previously generating $3,275 per month in total rental income, with separate utilities for each unit—ideal for maximizing cash flow and minimizing owner expenses. Both units are currently vacant, providing flexibility for an owner-occupant or an investor to set market rents immediately. Additional features include an updated interior, a fully fenced backyard, and strong unit layouts that appeal to long-term renters. Located on North Lake Avenue, this property sits in a highly desirable area near major employers, hospitals, universities, public transportation, and downtown Albany. Albany continues to be a favorable rental market, driven by steady demand from students, medical professionals, state employees, and young professionals, with limited inventory of quality multifamily housing. Whether you're looking for a strong income-producing asset, a house-hack opportunity, or a long-term hold in a stable upstate New York market, 27 N Lake Ave offers immediate upside and lasting value.
Details
Maps
Documents
Contract Information
Original List Price: 329000
List Price/SqFt: 137.48
Status: Pending
Property Sub Type: Duplex
List Price: $325,000
Current Price: $325,000
Listing Contract Date: 2025-12-15
Location
City/Town (Mail): Albany
Street Number: 27
Street Direction Prefix: N
Street Name: Lake
Street Suffix: Avenue
County: Albany
State/Province: NY
Postal Code: 12203
Geo Lat: 42.661817
Geo Lon: -73.773769
Property Detail
Rooms Total: 10
Bathrooms Half: 0
Garage Spaces: 0
Above Grade Finished Area: 2364
Above Grade Finished Area Source: CRS
Parking Y/N: No
Below Grade Finished Area: 0
Below Grade Finished Area Source: CRS
Living Area: 2364
Fireplaces Total: 0
Zoning: Multi Residence
Deed Restrictions: Unknown
Lot Size Acres: 0.07
Waterfront Y/N: No
Enhanced Accessible Y/N: No
Survey Y/N: No
Family Room Y/N (Units): Neither Units
Land Lease Y/N: No
Bedrooms Total: 6
Bathrooms Full: 2
Year Built: 1900
Status Change Info
Proposed Closing Date: 2026-03-02
Status Change Date: 2026-01-14
Under Contract Date: 2026-01-14
Parcel, Tax, HOA
Parcel Number: 010100 65.62-2-56
Tax Annual Amount: 4909.99
Tax Section: 65.62
Total Taxes Description: Actual
Tax Block: 2
Tax Lot: 56.000
School District: Albany
High School: Albany
Association Y/N: No
Directions & Remarks
Directions: Between Washington Ave & Western Ave in Albany.
Public Remarks: Turnkey Two-Family Investment Opportunity in the Heart of Albany. Welcome to 27 N Lake Ave, a well-maintained and updated two-family property offering two spacious 3-bedroom, 1-bath units, each featuring in-unit washer and dryer, stone countertops, and modern finishes throughout. The property has a proven rental history, previously generating $3,275 per month in total rental income, with separate utilities for each unit—ideal for maximizing cash flow and minimizing owner expenses. Both units are currently vacant, providing flexibility for an owner-occupant or an investor to set market rents immediately. Additional features include an updated interior, a fully fenced backyard, and strong unit layouts that appeal to long-term renters. Located on North Lake Avenue, this property sits in a highly desirable area near major employers, hospitals, universities, public transportation, and downtown Albany. Albany continues to be a favorable rental market, driven by steady demand from students, medical professionals, state employees, and young professionals, with limited inventory of quality multifamily housing. Whether you're looking for a strong income-producing asset, a house-hack opportunity, or a long-term hold in a stable upstate New York market, 27 N Lake Ave offers immediate upside and lasting value.
Sewer
Public Sewer: 1
Architectural Style
Traditional: 1
Electric
200+ Amp Service: 1
Circuit Breakers: 1
Fencing
Back Yard: 1
Chain Link: 1
Wood: 1
Financial Details
General Taxes: 2062.64
General Taxes Description: Actual
School Taxes: 2847.35
School Taxes Description: Actual
Attic Features
No Attic Access: 1
Cooling
Window Unit(s): 1
Basement
Full: 1
Bath Levels
Full Bath 1: 1st
Full Bath 2: 2nd
Lot Features
Road Frontage: 1
Construction Materials
Aluminum Siding: 1
Photos - the contractual owner of the photos
Photo Owner: Broker
Possession
At Closing: 1
Exterior Features
None: 1
Duplex Type
Up And Down: 1
Flooring
Vinyl: 1
Showing Requirements
Lockbox: 1
Special Listing Conditions
Other: 1
Utilities
Cable Available: 1
Roof
Rubber: 1
View
City: 1
Water Source
Public: 1
Foundation Details
Block: 1
Heating
Forced Air: 1
Natural Gas: 1
Income And Expenses
Rental Income: 3275
Rental Income Description: Actual
Interior Features
Stone Countertops: 1
Other: 1
Laundry Features
Electric Dryer Hookup: 1
In Bathroom: 1
Main Level: 1
Upper Level: 1
Washer Hookup: 1
Parking Features
Parking Total: 0
Patio And Porch Features
Enclosed: 1
Rear Porch: 1
Owner Pays
Sewer: 1
Snow Removal: 1
Trash Collection: 1
Water: 1
Levels
Two: 1
Separate Utilities
Electric: 1
Gas: 1
Tenant Pays
Electricity: 1
Gas: 1
Unit Information
Number Of Dishwashers: 2
Number Of Refrigerators: 2
Number Of Stoves: 2
Multi-Family Unit 1 Detail
Unit Location MF Unit 1: 1st
Occupant Type MF Unit 1: Vacant
Monthly Rent MF Unit 1: 1600
Rent Desc. MF Unit 1: Actual
Total Rooms MF Unit 1: 5
Total Bedrooms MF Unit 1: 3
Total Full Baths MF Unit 1: 1
Unit 1 Owner Furnish Features
Sewer: 1
Snow Removal: 1
Trash: 1
Water: 1
Unit 1 Includes
Bathroom: 1
Dishwasher: 1
Dryer Hookup: 1
Kitchen: 1
Living Room: 1
Refrigerator: 1
Storage: 1
Stove: 1
Washer Hookup: 1
Multi-Family Unit 2 Detail
Unit Location MF Unit 2: 2nd
Occupant Type MF Unit 2: Vacant
Monthly Rent MF Unit 2: 1675
Rent Desc. MF Unit 2: Actual
Total Rooms MF Unit 2: 5
Total Bedrooms MF Unit 2: 3
Total Full Baths MF Unit 2: 1
Unit 2 Owner Furnish Features
Sewer: 1
Snow Removal: 1
Trash: 1
Water: 1
Unit 2 Includes
Bathroom: 1
Dishwasher: 1
Dryer Hookup: 1
Kitchen: 1
Living Room: 1
Refrigerator: 1
Storage: 1
Stove: 1
Washer Hookup: 1
Unit 1 Detail
Rent: 1600
Rent Description Unit 1: Actual
Occupant Type Unit 1: Vacant
Kitchen Unit 1: Eat In
Total Rooms Unit 1: 5
Total Bedrooms: 3
Bedrooms on 1st Floor: 3
Total Full Baths: 1
Full Baths 1st Floor: 1
Kitchens 1st Floor: 1
Living Rooms 1st Floor: 1
Unit 2 Detail
Rent: 1675
Rent Description Unit 2: Actual
Occupant Type Unit 2: Vacant
Kitchen Unit 2: Eat In
Total Rooms Unit 2: 5
Total Bedrooms: 3
Bedrooms on 2nd Floor: 3
Total Full Baths: 1
Full Baths 2nd Floor: 1
Kitchens 2nd Floor: 1
Living Rooms 2nd Floor: 1
Unit 1 Dining Room Type
Combined DR/LR: 1
Unit 1 Appliances
Dishwasher: 1
Microwave: 1
Range: 1
Refrigerator: 1
Unit 1 Amenities
Cable Available: 1
Unit 2 Dining Room Type
Combined DR/LR: 1
Unit 2 Appliances
Dishwasher: 1
Microwave: 1
Range: 1
Refrigerator: 1
Unit 2 Amenities
Cable Available: 1
Property Features
Architectural Style: Traditional
Attic Features: No Attic Access
Basement: Full
Construction Materials: Aluminum Siding
Cooling: Window Unit(s)
Duplex Type: Up And Down
Electric: 200+ Amp Service; Circuit Breakers
Exterior Features: None
Fencing: Back Yard; Chain Link; Wood
Flooring: Vinyl
Foundation Details: Block
Heating: Forced Air; Natural Gas
Interior Features: Stone Countertops; Other
Laundry Features: Electric Dryer Hookup; In Bathroom; Main Level; Upper Level; Washer Hookup
Levels: Two
Lot Features: Road Frontage
Owner Pays: Sewer; Snow Removal; Trash Collection; Water
Patio And Porch Features: Enclosed; Rear Porch
Possession: At Closing
Roof: Rubber
Separate Utilities: Electric; Gas
Sewer: Public Sewer
Showing Requirements: Lockbox
Special Listing Conditions: Other
Tenant Pays: Electricity; Gas
Utilities: Cable Available
Water Source: Public
Unit 1 Includes: Bathroom; Dishwasher; Dryer Hookup; Kitchen; Living Room; Refrigerator; Storage; Stove; Washer Hookup
Unit 1 Owner Furnish Features: Sewer; Snow Removal; Trash; Water
Unit 1 Dining Room Type: Combined DR/LR
Unit 1 Appliances: Dishwasher; Microwave; Range; Refrigerator
Unit 1 Amenities: Cable Available
Unit 2 Owner Furnish Features: Sewer; Snow Removal; Trash; Water
Unit 2 Includes: Bathroom; Dishwasher; Dryer Hookup; Kitchen; Living Room; Refrigerator; Storage; Stove; Washer Hookup
Unit 2 Dining Room Type: Combined DR/LR
Unit 2 Appliances: Dishwasher; Microwave; Range; Refrigerator
Unit 2 Amenities: Cable Available
PCD & LBP 
Listing Courtesy of Gallup Property Group LLC
Listing Agent: Ryan Gallup
518-618-5736 | ryan@gallupproperty.com
518-618-5736 | ryan@gallupproperty.com
