287 Mrytle Ave - Apartments FOR SALE


Albany, NY 12209- Delaware Avenue
$1,250,000 USD
914-443-8077
287 Mrytle Ave, Albany, NY for Sale
$1,250,000 USD
Apartments - FOR SALE
1/42
null | 7.5% Cap Rate

287 Mrytle Ave
Albany, NY 12209
Delaware Avenue


HIGHLIGHTS

  • 10-Unit Multifamily Portfolio – Two 5-Unit Apartment Buildings
  • Approximately 10,817 SF Combined Building Area
  • Strong Unit Mix – Studio, 1-Bedroom & 2-Bedroom Apartments
  • $146,052 in Current Gross Annual Income
  • Two Properties Offered as One Portfolio – Immediate Scale & Established Cash Flow
  • 7.5% Cap Rate – Attractive Income-Producing Investment

OVERVIEW

10-UNIT MULTIFAMILY INVESTMENT PORTFOLIO | 7.5% CAP RATE | $146,052 GROSS INCOME Excellent opportunity to acquire a 10-unit multifamily portfolio consisting of two separate 5-unit apartment buildings. Offering approximately 10,817 square feet of combined building area, a strong mix of one- and two-bedroom apartments, and established rental income, this portfolio provides investors with immediate cash flow and long-term investment potential. INVESTMENT HIGHLIGHTS 10 Total Residential Units Two 5-Unit Multifamily Buildings $146,052 Gross Annual Income 7.5% Cap Rate** Approximately 10,817 SF Combined** Diverse mix of studio, one-bedroom and two-bedroom apartments Tenant-paid utilities at the Sparkill Avenue property Established income-producing multifamily portfolio Opportunity to acquire two properties in one transaction SPARKILL AVENUE – 5 UNITS | 6,608 SF The Sparkill Avenue property contains approximately 6,608 square feet and features a desirable unit mix consisting of: 4 Two-Bedroom Apartments 1 One-Bedroom Basement Apartment Tenants pay their own utilities, helping control ownership expenses and enhance the property's income-producing potential. SECOND BUILDING – 5 UNITS | 4,209 SF The second property contains approximately 4,209 square feet and offers: 3 One-Bedroom Apartments 1 Two-Bedroom Apartment 1 Studio Apartment The varied apartment mix provides multiple rental price points and broad tenant appeal. THE OPPORTUNITY With 10 existing apartments, $146,052 in annual gross income and a 7.5% cap rate, this offering provides investors with the opportunity to acquire immediate scale without having to assemble multiple individual properties. The portfolio's combination of established rental income, diversified unit mix and approximately 10,817 square feet of residential space makes it an attractive acquisition for investors seeking cash flow, portfolio expansion and long-term multifamily ownership. Two Buildings. Ten Units. One Investment Opportunity. Financial information and additional property details available to qualified buyers.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$116 USD /SF

# OF UNITS

10

PRICE/UNIT

$125,000

CAP RATE

7.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1929

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

R2A

APN/PARCEL ID

010100-075-076-0001-045-000-0000

ASK ABOUT THIS PROPERTY

Jean DiMatteoDiMatteo RealtyMore Info
914-443-8077

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Jean DiMatteoDiMatteo RealtyMore Info
914-443-8077

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.