$215,000

186 2nd Avenue, Albany, NY 12202

6 beds |
2 baths |
2,472 sqft

Duplex
Built in 1920
2,614sqft lot
—— car garage
$87/sqft
Listed 1 month ago

Property Description

Prime Investment Opportunity: High-Yield Multi-Family in Albany Attention investors! This vacant, turnkey-ready multi-family property is a high-yield asset waiting to be added to your portfolio. Situated in a high-demand rental pocket of Albany, this property offers the perfect blend of immediate cash flow potential and value-add opportunity. The Highlights Strategic Layout: Each spacious apartment features a flexible 3-bedroom floor plan specifically designed to qualify for 4-bedroom HUD/Section 8 rent subsidies. This unique configuration allows you to maximize your monthly rental income significantly. Vacant & Ready: No need to navigate existing leases or tenant relocations. This property is delivered vacant, allowing you to place your own screened tenants at current market rates immediately. Value-Add Potential: The building is in solid condition but requires minor TLC. A simple cosmetic ''refresh''—paint, minor flooring, and appliances—will easily bridge the gap to top-tier rental premiums. Excellent Cash Flow: Between the HUD-friendly layout and the low entry price point, the ROI on this property outpaces many others in the Capital Region. Property Features Type: Multi-Family Investment Units: Large, versatile apartments Status: Vacant on transfer Location: Conveniently located near public transit, local amenities, and major commuter routes in Albany. Investor Note: Properties with 4-bedroom subsidy potential are in extremely high demand and short supply. This is a rare chance to capture higher-than-average vouchers with a very manageable ''light lift'' renovation. Don't miss out on this high-performing asset. --- Unit Configuration Estimated Market Rent HUD Payment Standard (2026) 3-Bedroom Unit $1,827 / mo 4-Bedroom Unit $2,013 / mo

Listing Status:: Active
Date Added:: January 15, 2026
Data Last Updated:: February 14, 2026 at 6:37AM
Listing Office:: Weichert Realtors-Reliable Properties : 518-312-4800
Listing Agent:: Craig Cioffi : 518-396-8386
MLS ID:: 202610659

Basement: Unfinished
A/C: None
Heating: Radiant

General: None
Style: Other

General: BlockOtherDrywall

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

Zoning: 010100 76.71-2-4

Water: Public
Sewer: Public Sewer

Source: Global MLS
Ownership: SP RE INV

This listing courtesy of Craig Cioffi , Weichert Realtors-Reliable Properties

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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Location

Schools Nearby

Delaware Community School

43 Bertha St, Albany, NY, 12209

Grades PK-5

0.49 miles away

William S. Hackett Middle School

45 Delaware Ave, Albany, NY, 12202

Grades 6-8

0.75 miles away

Albany High School

700 Washington Ave, Albany, NY, 12203

Grades 9-12

2.01 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.