Overview
Rare opportunity to own a fully updated, semi-detached historic gem! This beautifully restored side-by-side two-unit property (4 units total) blends timeless charm with modern upgrades. Built in the 1810s and recently renovated from top to bottom, the buildings feature new roofs, updated mechanicals, newer electrical and plumbing systems, and fresh exterior paint. Each apartment boasts a unique layout, updated kitchens and baths, in-unit washer/dryers, and private outdoor space—including a brand-new deck.The unit mix includes a spacious 3-bedroom, a 2-bedroom, and two 1-bedroom apartments—all with well-proportioned bedrooms and great natural light. A perfect investment opportunity: all tenants are current on rent, and the 3-bedroom and one of the 1-bedrooms can be delivered vacant for owner occupancy or market-rate leasing. This turnkey property is a rare blend of historic character and modern convenience—ideal for investors or live-in owners seeking cash flow and long-term value.The properties are located in historic Hudson Square, which is centrally located with easy access to the state government buildings, Albany Medical Center, several parks, and the active bar/ restaurant scene on Lark Street. This area has a high demand for rentals, and demands high rent prices.Income and Expense Numbers:Expenses (we self manage):Taxes: $11, 960Insurance: $2, 542Vacancy (5%): $4, 185 Cap X (2.5%): $2, 092Trash: $600PLP: $840Water: $1, 000Total Expenses: $23, 219Income: $83, 700Net: $60, 481