$207,000
Albany, NY 12206
MLS# 202329006
Status: Closed
4 beds
1 / 55
Property Description
Wonderful opportunity to own a 4-family (2 duplexes) in Albany! This income producing multi-unit has owner-occupancy potential. 2 recently remodeled units w/ new appliances and flooring have estimated rents of $850/mo. each. Another is currently rented w/ a long-term tenant at $715/mo. Additional unit estimated at $715/mo. Total potential rental income of $37,560/year ($3,130/month)! This property boasts rear decks that are under 10 yrs old, energy efficient windows, 4 hot water heaters, and 1 boiler w/ each unit having a preset thermostat. Tenants pay separate electric and hot water (owner furnishes heat). All units have yard access. Property is zoned R-2 District and has a full basement w/ multiple potential uses. Conveniently located near bus line and local park. A must see!
Details
Maps
Documents
Contract Information
Original List Price: 229900
List Price/SqFt: 73.5
Status: Closed
Property Sub Type: Quadruplex
Sold Price: $207,000
Current Price: $207,000
Listing Contract Date: 2023-11-30
Location
City/Town (Mail): Albany
Street Number: 506-508
Street Name: 3rd
Street Suffix: Street
County: Albany
State/Province: NY
Postal Code: 12206
Geo Lat: 42.669867
Geo Lon: -73.771734
Property Detail
Rooms Total: 18
Bathrooms Half: 0
Garage Spaces: 0
Above Grade Finished Area: 3128
Above Grade Finished Area Source: CRS
Parking Y/N: No
Living Area: 3128
Lot Size Dimensions: 2550 sqft
Lot Size Acres: 0.06
Waterfront Y/N: No
Enhanced Accessible Y/N: No
Bedrooms Total: 4
Bathrooms Full: 4
Year Built: 1900
Status Change Info
Sold Price/SqFt: 66.18
Status Change Date: 2024-04-29
Under Contract Date: 2024-02-05
Sold Date: 2024-04-12
Sold Price: $207,000
Parcel, Tax, HOA
New Construction Y/N: No
Parcel Number: 010100 65.39-1-64
Tax Annual Amount: 3776
Tax Section: 65.39
Total Taxes Description: Estimated
Tax Block: 1
Tax Lot: 64
School District: Albany
High School: Albany
Association Y/N: No
Directions & Remarks
Directions: Central Ave to north on Ontario St, then right onto 3rd St. 506-508 Third St will be on your right.
Public Remarks: Wonderful opportunity to own a 4-family (2 duplexes) in Albany! This income producing multi-unit has owner-occupancy potential. 2 recently remodeled units w/ new appliances and flooring have estimated rents of $850/mo. each. Another is currently rented w/ a long-term tenant at $715/mo. Additional unit estimated at $715/mo. Total potential rental income of $37,560/year ($3,130/month)!
This property boasts rear decks that are under 10 yrs old, energy efficient windows, 4 hot water heaters, and 1 boiler w/ each unit having a preset thermostat.
Tenants pay separate electric and hot water (owner furnishes heat). All units have yard access. Property is zoned R-2 District and has a full basement w/ multiple potential uses. Conveniently located near bus line and local park. A must see!
Sewer
Public Sewer: 1
Fencing
Fenced: 1
Financial Details
General Taxes: 1696
General Taxes Description: Estimated
School Taxes: 2080
School Taxes Description: Estimated
Cooling
None: 1
Basement
Walk-Out Access: 1
Bath Levels
Full Bath 1: 1st
Full Bath 2: 2nd
Full Bath 3: 1st
Full Bath 4: 2nd
Lot Features
Level: 1
Construction Materials
Aluminum Siding: 1
Possession
At Closing: 1
Subject To Tenant Rights: 1
Exterior Features
None: 1
Flooring
Carpet: 1
Linoleum: 1
Vinyl: 1
Showing Requirements
24 Hour Notice: 1
Lockbox: 1
Occupied: 1
Special Listing Conditions
Standard: 1
Water Source
Public: 1
Heating
Baseboard: 1
Hot Water: 1
Natural Gas: 1
Income And Expenses
Total Income: 37560
Interior Features
High Speed Internet: 1
Paddle Fan: 1
Patio And Porch Features
Deck: 1
Owner Pays
Heat: 1
Sewer: 1
Trash Collection: 1
Water: 1
Levels
Two: 1
Separate Utilities
Electric: 1
Water Heater: 1
Tenant Pays
Cable TV: 1
Electricity: 1
Gas: 1
Hot Water: 1
Internet: 1
Snow Removal: 1
Unit Information
Number Of Refrigerators: 4
Number Of Stoves: 4
Unit 1 Detail
Rent: 850
Rent Description Unit 1: Estimated
Occupant Type Unit 1: Vacant
Kitchen Unit 1: Eat In
Total Bedrooms: 1
Bedrooms on 1st Floor: 1
Total Full Baths: 1
Full Baths 1st Floor: 1
Kitchens 1st Floor: 1
Living Rooms 1st Floor: 1
Unit 2 Detail
Rent: 715
Rent Description Unit 2: Estimated
Occupant Type Unit 2: Vacant
Kitchen Unit 2: Eat In
Total Bedrooms: 1
Bedrooms on 2nd Floor: 1
Total Full Baths: 1
Full Baths 2nd Floor: 1
Kitchens 2nd Floor: 1
Living Rooms 2nd Floor: 1
Unit 3 Detail
Rent: 850
Rent Description Unit 3: Estimated
Occupant Type Unit 3: Vacant
Kitchen Unit 3: Eat In
Total Bedrooms: 1
Bedrooms on 1st Floor: 1
Total Full Baths: 1
Full Baths 1st Floor: 1
Kitchens 1st Floor: 1
Living Rooms 1st Floor: 1
Unit 4 Detail
Rent: 715
Rent Description Unit 4: Actual
Lease Term Unit 4: 12 Months
Total Bedrooms: 1
Bedrooms on 2nd Floor: 1
Total Full Baths: 1
Full Baths 2nd Floor: 1
Kitchens 2nd Floor: 1
Living Rooms 2nd Floor: 1
Unit 1 Appliances
Range: 1
Refrigerator: 1
Unit 2 Appliances
Range: 1
Refrigerator: 1
Unit 3 Appliances
Range: 1
Refrigerator: 1
Unit 4 Appliances
Range: 1
Refrigerator: 1
Property Features
Basement: Walk-Out Access
Construction Materials: Aluminum Siding
Cooling: None
Exterior Features: None
Fencing: Fenced
Flooring: Carpet; Linoleum; Vinyl
Heating: Baseboard; Hot Water; Natural Gas
Interior Features: High Speed Internet; Paddle Fan
Levels: Two
Lot Features: Level
Owner Pays: Heat; Sewer; Trash Collection; Water
Patio And Porch Features: Deck
Possession: At Closing; Subject To Tenant Rights
Separate Utilities: Electric; Water Heater
Sewer: Public Sewer
Showing Requirements: 24 Hour Notice; Lockbox; Occupied
Special Listing Conditions: Standard
Tenant Pays: Cable TV; Electricity; Gas; Hot Water; Internet; Snow Removal
Water Source: Public
Unit 1 Appliances: Range; Refrigerator
Unit 2 Appliances: Range; Refrigerator
Unit 3 Appliances: Range; Refrigerator
Unit 4 Appliances: Range; Refrigerator
Disclosures and Taxes 
Listing Courtesy of PMI Capital District
Listing Agent: Jonathan Holland
518-210-4248 | jholland@propertymanagementinc.com
518-210-4248 | jholland@propertymanagementinc.com
