274 Morton Avenue, Albany, NY 12209

Property Description

Investors and owner-occupants — don't miss this beautifully renovated 3-family in Albany's Delaware Avenue neighborhood! With 3,699 sq ft, this 9-bedroom, 3-bath home offers three spacious units (3 bed / 1 bath each), ALL renovated within the past 2-3 years — truly turnkey with minimal deferred maintenance. The 1st and 3rd floors are rented at $1,500/month each, and the 2nd floor is VACANT and ready for you to move right in: live in one unit and let the other two help pay your mortgage, or lease it out at an estimated $1,600-$1,700/month. Gross potential rent of $55,200-$56,400/year with a pro forma NOI of approx. $41,900-$43,100 (approx. 8.9%-9.2% cap rate at list price). Prime location just off Delaware Ave: steps to Lincoln Park — home to the newly renovated $25M Lincoln Park Pool (free for Albany residents), plus tennis and basketball courts, ball fields and playgrounds; approx. 1 mile to Albany Medical Center, and close to Albany College of Pharmacy, Albany Law School and Sage College; minutes to downtown Albany, Empire State Plaza and I-787. Walk Score 78 — Very Walkable and on the CDTA bus line. Strong income today with room to grow — schedule your showing today!