1879 Central Avenue, Albany, NY 12205
sale
$659,900
|
Other
Courtesy Of Renovo Real Estate
Positioned along a high-visibility corridor in Colonie, this well-maintained mixed-use property delivers immediate cash flow with clear value-add upside. The asset features two street-level commercial spaces with long-term tenants, four one-bedroom apartments, one studio apartment, and a three-bay garage, all supported by ample off-street parking, a rare combination in this location! The building has been consistently rented, reflecting durable tenant demand. Current rents are below market, presenting a compelling opportunity for an investor to drive NOI through strategic rent optimization while maintaining stability. The roof was replaced approximately ten years ago and the studio was recently renovated. Total annual rents currently total $61,920 with yearly expenses around $15,000 making the NOI approx $46,920 and a 7.1% Cap rate! Coin Laundry washer and dryer on Premises!
Read More About This Property
Read Less About This Property
Copyright © 2026 Global MLS, Inc. 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
- Architecture Style: Other
- Exterior Type: Vinyl Siding
- Exterior Type: Block
- Floor Covering: Vinyl
- Floor Covering: Linoleum
- Floor Covering: Carpet
- Heating System: Baseboard
- Heating System: Hot Water(Heating)
- Heating System: Forced Air
- MLSID: 202610583
- Parking Spaces: 15
- Rooms: Bathroom 6
- Rooms: Bathroom 7
- Rooms: Bathroom 4
- Rooms: Bathroom 5
- Rooms: Bathroom 2
- Rooms: Bathroom 3
- Rooms: Bathroom 1
Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
You may also be interested in...
sale
$759,900
Other
197 Lark Street
Albany, NY 12210
Building: 4,360 sq. ft.
|
Land: 0.04 Acres
Courtesy Of Coldwell Banker Prime Properties
sale
$725,000
Other
14 Rapp Road
Albany, NY 12203
Building: 828 sq. ft.
|
Land: 14 Acres
Courtesy Of KW Platform
sale
$535,000
Other
165 Madison Avenue
Albany, NY 12202
Building: 3,272 sq. ft.
|
Land: 0.1 Acres
Courtesy Of HOWARD HANNA CAPITAL INC
sale
$535,000
Other
165 Madison Avenue
Albany, NY 12202
Building: 3,272 sq. ft.
|
Land: 0.1 Acres
Courtesy Of Howard Hanna Real Estate Services