$329,000

27 N Lake Avenue, Albany, NY 12203

6 beds |
2 baths |
2,364 sqft

Duplex
Built in 1900
3,049sqft lot
—— car garage
$139/sqft
Listed 3 days ago

Property Description

Turnkey Two-Family Investment Opportunity in the Heart of Albany. Welcome to 27 N Lake Ave, a well-maintained and updated two-family property offering two spacious 3-bedroom, 1-bath units, each featuring in-unit washer and dryer, stone countertops, and modern finishes throughout. The property has a proven rental history, previously generating $3,275 per month in total rental income, with separate utilities for each unit—ideal for maximizing cash flow and minimizing owner expenses. Both units are currently vacant, providing flexibility for an owner-occupant or an investor to set market rents immediately. Additional features include an updated interior, a fully fenced backyard, and strong unit layouts that appeal to long-term renters. Located on North Lake Avenue, this property sits in a highly desirable area near major employers, hospitals, universities, public transportation, and downtown Albany. Albany continues to be a favorable rental market, driven by steady demand from students, medical professionals, state employees, and young professionals, with limited inventory of quality multifamily housing. Whether you're looking for a strong income-producing asset, a house-hack opportunity, or a long-term hold in a stable upstate New York market, 27 N Lake Ave offers immediate upside and lasting value.

Listing Status:: Active
Date Added:: December 16, 2025 at 06:00AM
Listing Office:: Gallup Property Group LLC : 518-618-5736
Listing Agent:: Ryan Gallup : 518-618-5736
MLS ID:: 202530845

General: Other
Laundry: Washer HookupMain LevelUpper LevelIn BathroomElectric Dryer Hookup
Basement: Full
Flooring: Vinyl
A/C: Window Unit(s)
Heating: Forced Air
Fireplace: Fireplaces: 0

General: None
Style: Traditional
Parking: Parking spaces: 0

Roofing: Rubber
General: Aluminum SidingBlock

HOA Amenities: Sewer
Originating MLS: Global MLS
School District: Albany
County: Albany

Zoning: Multi Residence010100 65.62-2-56
View: City
Fencing: Back YardChain LinkWood

Utilities: Cable Available200+ Amp ServiceCircuit Breakers
Water: Public
Sewer: Public Sewer

Source: Global MLS

This listing courtesy of Ryan Gallup, Gallup Property Group LLC

Monthly Payment

$Est. Payment

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

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Location

Schools Nearby

Sheridan Preparatory Academy

400 Sheridan Ave, Albany, NY, 12206

Grades PK-5

0.36 miles away

Edmund J O'Neal Middle School of Excellence

50 Lark St, Albany, NY, 12210

Grades 6-8

0.83 miles away

Albany High School

700 Washington Ave, Albany, NY, 12203

Grades 9-12

0.55 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.