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About the Listing o3316A - 32565
Turnkey Two-Family Investment Opportunity in the Heart of Albany. Welcome to 27 N Lake Ave, a well-maintained and updated two-family property offering two spacious 3-bedroom, 1-bath units, each featuring in-unit washer and dryer, stone countertops, and modern finishes throughout. The property has a proven rental history, previously generating $3,275 per month in total rental income, with separate utilities for each unit—ideal for maximizing cash flow and minimizing owner expenses. Both units are currently vacant, providing flexibility for an owner-occupant or an investor to set market rents immediately. Additional features include an updated interior, a fully fenced backyard, and strong unit layouts that appeal to long-term renters. Located on North Lake Avenue, this property sits in a highly desirable area near major employers, hospitals, universities, public transportation, and downtown Albany. Albany continues to be a favorable rental market, driven by steady demand from students, medical professionals, state employees, and young professionals, with limited inventory of quality multifamily housing. Whether you're looking for a strong income-producing asset, a house-hack opportunity, or a long-term hold in a stable upstate New York market, 27 N Lake Ave offers immediate upside and lasting value.
Interior Details
- Bedrooms: 6
- Bathrooms: 2 Full
- Appliances:
- Air Cond: Window Unit(s)
- Heating: Forced Air,Natural Gas
- Fireplaces: 0
- Floor: Vinyl
- Above Ground Sq Ft: 2364
- Below Ground Sq Ft: 0
- Basement: Full
- Other:
- Water: Public
Exterior Details
- Lot Description: Road Frontage
- Garage Capacity: N/A
- Parking Spaces: 0
- Zoning: Multi Residence
- Roof: Rubber
- Others:
- Sewer: Public Sewer
Financial Details
- Tax Amount: $4,910
- Taxes w/Assessments: N/A
- Tax/Property ID: 010100 65.62-2-56
- Tax Year: N/A
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27 N Lake Ave Albany, NY 12203
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