552 Madison Ave

5 Unit Block of Flats £547,057 (£109,411/Unit) 6.15% Net Initial Yield Albany, NY 12208

EXECUTIVE SUMMARY

**CAN BE SOLD AS A PACKAGE WITH 558 MADISON AVENUE** Seize a rare opportunity to own 5 units ideally located on the corner of New Scotland and Madison Avenue directly across from Washington Park and Albany Medical Center. This property is an investor or owner-occupier's dream, standing two stories and containing three 1BD/1BA units and two 2BD/1BA units, floor plan included in documents. One unit is occupied and the other four are primed for cosmetic renovations. The building dons historic details such as custom-doors, a beautiful brick facade, hardwood floors, and original moldings. Properties with this character and location are scarce, so act fast to capitalize on this unique chance!

PROPERTY FACTS

Price £547,057
Price Per Unit £109,411
Sale Type Investment
Net Initial Yield 6.15%
Sale Conditions
Portfolio Sale
  • Deferred Maintenance
  • High Vacancy Property
Gross Rent Multiplier 10
No. Units 5
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.08 AC
Building Size 3,684 SF
Number of Floors 2
Year Built 1875
Opportunity Zone Yes
Walk Score®
Very Walkable (88)

PROPERTY TAXES

ZONING

Zoning Code C1
  • Listing ID: 32960044

  • Date on Market: 26/08/2024

  • Last Updated:

  • Address: 552 Madison Ave, Albany, NY 12208