Property Description
85 South Lake Ave is a unique two-family duplex rowhouse located in one of Albany's best rental corridors - directly on Washington Park. Each apartment has two floors of living space, three bedrooms and two full bathrooms each. The total living space is 2,639 sq. ft. Both units have been renovated and updated. Major improvements include; new water and sewer lines, plumbing, kitchens, updated electrical, new windows, added insulation, newly painted, new exterior stairs, washer and dryer hook-ups, motion senser lighting, new and updated bathrooms. The main roof and furnace are approximately 10 years old. Front porch and kitchen roof are less than two years old. Each unit includes large rooms and closets, comfortable living spaces, ample natural light and functional layouts. The utilities are not split and have never been a cost or convenience issue. The building is incredibly efficient, being a row house with new insulation and windows. This building is a great turn-key investment opportunity - ready to rent or for owner occupied. Gross annual rental revenue is over $51,000. Both units are currently vacant due to renovation, creating the rare opportunity for the owner to place their own tenants at current market rates to maximize cash flow. The prime location makes renting easy - 98% occupancy rate over the last 30 years. On-street parking is readily available at all hours - most of the row houses have off-street parking. Off-street parking is possible with City of Albany approval.
Property Details 85 S Lake Avenue, Albany, NY 12203
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