169 Elk St, Albany, NY 12210
sale
$559,000
|
Other
Courtesy Of Statewide Properties LLC
call or text (5I8) 573-8OI8 *** Prime Downtown Albany Multifamily | High-Yield 9.6% Cap Rate Strong Financial Yield: Operating at a proven 9.6% Cap Rate, significantly outperforming regional market averages. Optimal Unit Mix: Five high-occupancy, easily rentable units designed to maximize monthly gross potential rent. All units currently occupied. Premium Downtown Location: Steps from State Capital buildings, SUNY Downtown campuses, major hospitals, and the vibrant Lark Street entertainment district. High Tenant Demand: Perfect walk-ability ensures a steady pipeline of young professionals, state workers, and student renters. Property Highlights: -Value-Add Potential: Immediate cash flow with room for organic rent growth as leases renew. -Strong Rental History: Low historical vacancy rates with an established, reliable tenant base. -Separate Utilities for each unit's gas and electric; Owner pays Heat and Hot water, so only one boiler and one HW heater to maintain. All mechanicals solid. -Certificates of Occupancy: all current through 10/2027 -Investor Packages Ready: Full rent roll and a detailed pro forma are available upon request for qualified buyers. Exceptional opportunity to acquire a high-performing, turnkey 5-unit multifamily property nestled in the heart of Downtown Albany. Delivering a 9.6% Capitalization Rate on current financials, this asset offers an immediate, robust cash-flow engine for your portfolio from Day 1. Offered at $559,000. Freshly painted, always rented, solid brick 5 family with current certs of occupancy on a quiet street only a block from center square! Directly behind the public library on Washington Ave. Owner pays heat and hot water. Tenants pay their own electricity and cooking gas via separate metering. Heating is a boiler in great shape and Hot water heater only a few years old. All new replacement windows throughout. No owner financing. Please no Real estate listing agents. ***** SHOWING REQUESTS & QUESTIONS:
Read More About This Property
Read Less About This Property
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Property Features
- Age: Over 50 Years Old
- Exterior Type: Brick
- Floor Covering: Tile
- Floor Covering: Hardwood
- Heating System: Hot Water(Heating)
- Heating System: Natural Gas
- MLSID: 11968354
- Roof Type: Flat
- Rooms: Bathroom 4
- Rooms: Bathroom 5
- Rooms: Bathroom 2
- Rooms: Bathroom 3
- Rooms: Bathroom 1
Data powered by Attom Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
You may also be interested in...
sale
$725,000
Other
275 Lark Street
Albany, NY 12210
Building: 2,840 sq. ft.
|
Land: 0.14 Acres
Courtesy Of RE/MAX Solutions
sale
$669,900
Other
285 Washington Avenue
Albany, NY 12206
Building: 5,772 sq. ft.
|
Land: 0.08 Acres
Courtesy Of KW Platform
sale
$649,000
Other
204 Lancaster Street
Albany, NY 12210
Building: 4,123 sq. ft.
|
Land: 0.04 Acres
Courtesy Of Howard Hanna Real Estate Services
sale
$639,900
Other
197 Lark Street
Albany, NY 12210
Building: 4,360 sq. ft.
|
Land: 0.04 Acres
Courtesy Of Coldwell Banker Prime Properties