157 Myrtle Ave, Albany, NY, 12202

About This Home

[Video Tour available!] Well-maintained and recently renovated 2-unit home 2 blocks from Lincoln Park. Owner occupy and go to the park every day. Or set it and forget it as a hassle-free solid investment property. The building requires no upgrades or maintenance as it is. Solid existing tenant and Unit 2 can either be rented out or owner occupied. Sellers looking for clean, easy deal. Hardwood floors throughout. Fabulous bay windows for each unit. Tall ceiling height. 2 staircases, both front and back. Renovated in 2023, Brand new roof. New appliances, including 2 sets of refrigerator, stove, dishwasher, washer, dryer. New interior paint, light fixtures, bathroom fixtures, mini split system. New retaining wall for backyard. New exterior paint. Separate utilities, tenants pay their own heating / electricity. All heating is electric, mix of baseboard and mini splits. Mini splits and baseboards are all in good working order. Unit 1 responsible for snow. Landlord pays water/sewer. Unit 2 Vacant for owner occupy, or rent it out for $2,000+/mo easy. Street parking. Separate water heaters, replaced in 2023. TOTAL EXPENSES $7,385 [Yearly expenses breakdown: Property tax $4,763; Insurance $1,722 ; Water $600 ; Snow & Grass $300] CURRENT INCOME: $23,568/yr (Unit 1 - $1,964/mo , Unit 2 Vacant) PROFORMA ICOME : $47,658/yr (Unit 1 - $1,964/mo , Unit 2 - $2,000/mo) PROFORMA CAP RATE @ $425,000 price = 9.5% Drive-bys okay, please do not disturb tenants. Contact listing agent for group showing info or video tour.