102 S Lake Avenue, Albany, NY 12208

• 21 beds |
• 18 baths |
• 10,263 sqft

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:

Pending

Date Added:

September 17, 2025

Data Last Updated:

May 20, 2026 at 2:40AM

Listing Office:

Carrow Real Estate Services LLC : 518-462-7491

Listing Agent:

Rudy R Lynch : 518-337-3705

MLS ID:

202526005

Interior

• Basement: Finished
• Heating:

Exterior

• General: Other
• Style: Apartment 4 Plus Unit
• Parking: Parking spaces: 9

Construction

• Roofing: RubberSlate
• General: Vinyl Siding

Location

• Originating MLS: Global MLS
• School District: Albany
• County: Albany

Lot

• Zoning: Multi Residence010100 65.77-4-14

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: Global MLS