$1,990,000

102 S Lake Avenue, Albany, NY 12208

  • 21 beds |
  • 18 baths |
  • 10,263 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1900
  • Property Lot Size Icon9,148sqft lot
  • Property Parking Icon 3 car garage
  • Property Price Per Square Feet Icon $194/sqft
  • Property List Date Icon Listed 3 months ago

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.

Listing Status:
Active
Date Added:
September 17, 2025 at 05:00AM
Listing Office:
Carrow Real Estate Services LLC : 518-462-7491
Listing Agent:
Rudy R Lynch : 518-337-3705
MLS ID:
202526005
  • Basement: Finished
  • Heating:
  • General: Other
  • Style: Apartment 4 Plus Unit
  • Parking: Parking spaces: 9
  • Roofing: RubberSlate
  • General: Vinyl Siding
  • Originating MLS: Global MLS
  • School District: Albany
  • County: Albany
  • Zoning: Multi Residence010100 65.77-4-14
  • Water: Public
  • Sewer: Public Sewer
  • Source: Global MLS

This listing courtesy of Rudy R Lynch, Carrow Real Estate Services LLC

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

S

Sheridan Preparatory Academy

400 Sheridan Ave, Albany, NY, 12206

Grades PK-5

0.64 miles away

W

William S. Hackett Middle School

45 Delaware Ave, Albany, NY, 12202

Grades 6-8

0.65 miles away

A

Albany High School

700 Washington Ave, Albany, NY, 12203

Grades 9-12

0.68 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.