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Listed by Qiu Qin Zheng • Gilcrest Properties
$ 439,000
Est. payment /mo
New
274 Morton Avenue Albany, NY 12209
9 Beds
3 Baths
3,699 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,699 sqft
Price per Sqft $118
MLS Listing ID 202629205
Bedrooms 9
Full Baths 3
HOA Y/N No
Year Built 1925
Annual Tax Amount $8,504
Lot Size 2,178 Sqft
Acres 0.05
Property Sub-Type Triplex
Source Global MLS
Property Description
PRICE IMPROVEMENT! Strong-performing 3-family in Albany — pro-forma cap rate of 9.5%+ at the new price. First and third floor units are rented at $1,500/month each ($36,000/year in place). The second-floor unit is delivered VACANT — perfect for an owner-occupant to live in while the other two units cover the mortgage, or lease it at market rent ($1,600-$1,700/month) to maximize income. Total pro-forma gross income of approx. $55,000+/year against total annual expenses of only approx. $13,306. Nine bedrooms total across 3,699 sq ft, three full baths, spacious layouts in every unit. All three units have been renovated within the past 2-3 years — just collect the rent. Great location — directly across from the park and just minutes from Albany Medical Center, Turnkey investment or owner-occupant opportunity — bring your buyers!
Location
State NY
County Albany
Direction Delaware to 1st block of Morton
Interior
Heating Forced Air, Natural Gas
Flooring Hardwood, Laminate
Exterior
Exterior Feature None, Garden
Roof Type Flat,Rubber
Building
Sewer Public Sewer
Water Public
Architectural Style Traditional
New Construction No
Schools
School District Albany
Others
Tax ID 010100 76.47-2-9
Special Listing Condition Standard
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