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Listed by Qiu Qin Zheng • Gilcrest Properties

$ 439,000

Est. payment -/mo

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New

274 Morton Avenue Albany, NY 12209

9 Beds

3 Baths

3,699 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Square Footage 3,699 sqft

Price per Sqft $118

MLS Listing ID 202629205

Bedrooms 9

Full Baths 3

HOA Y/N No

Year Built 1925

Annual Tax Amount $8,504

Lot Size 2,178 Sqft

Acres 0.05

Property Sub-Type Triplex

Source Global MLS

Property Description

PRICE IMPROVEMENT! Strong-performing 3-family in Albany — pro-forma cap rate of 9.5%+ at the new price. First and third floor units are rented at $1,500/month each ($36,000/year in place). The second-floor unit is delivered VACANT — perfect for an owner-occupant to live in while the other two units cover the mortgage, or lease it at market rent ($1,600-$1,700/month) to maximize income. Total pro-forma gross income of approx. $55,000+/year against total annual expenses of only approx. $13,306. Nine bedrooms total across 3,699 sq ft, three full baths, spacious layouts in every unit. All three units have been renovated within the past 2-3 years — just collect the rent. Great location — directly across from the park and just minutes from Albany Medical Center, Turnkey investment or owner-occupant opportunity — bring your buyers!

Location

State NY

County Albany

Direction Delaware to 1st block of Morton

Interior

Heating Forced Air, Natural Gas

Flooring Hardwood, Laminate

Exterior

Exterior Feature None, Garden

Roof Type Flat,Rubber

Building

Sewer Public Sewer

Water Public

Architectural Style Traditional

New Construction No

Schools

School District Albany

Others

Tax ID 010100 76.47-2-9

Special Listing Condition Standard

Virtual Tour https://app.doaudiotours.com/unbranded?id=33733&lang=en-US

Arielle Roberts

NYS Licensed Real Estate Associate Broker

+1(518) 937-3950 | arielle@empirerealestatefirm.com

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