Two-Family Residential Income
For Sale
$320,000
199 N Lake Avenue, Albany, NY 12206
Turnkey two-family building with two leased units and 8 bedrooms and 2 full baths total.
Property Size2,032 SF
Price / SF$157.48
Days on Market74
Property Features for 199 N Lake Avenue
General Information
Standard status
Active
Size
2,032 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
GROUP TWENTY SIX NY LLC
Listed By:
Linda Chiou
(518) 639-4663
Source:
Signatureonerealtygroup
Added: May 19
Changed: Jul 24
Last Checked: Jul 30 at 7:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of GROUP TWENTY SIX NY LLC
Investment Insights
Based on property information with market context.
This fully tenant-occupied two-family property offers two spacious units totaling 8 bedrooms and 2 full baths. The building is presented as a turnkey investment with both apartments leased, providing immediate rental income from day one.
The property is situated on two adjoining lots, 197 and 199 N Lake Ave, adding additional land value to the offering.
With an established tenant base and a duplex layout across two units, this residential income property is suited for buyers seeking a leased, income-producing asset.
The property is situated on two adjoining lots, 197 and 199 N Lake Ave, adding additional land value to the offering.
With an established tenant base and a duplex layout across two units, this residential income property is suited for buyers seeking a leased, income-producing asset.
Key Highlights
- Fully tenant‑occupied two‑family property with both apartments leased
- Total layout includes 8 bedrooms and 2 full baths across two units
- Two‑family building on two adjoining lots at 197 and 199 N Lake Ave
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.4k | $17.40 |
| − Vacancy | −$2.3k | −$1.13 |
| EGI | $33.1k | $16.27 |
| − OpEx | −$9.9k | −$4.88 |
| NOI | $23.1k | $11.39 |
2,032 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$330.6K
$289.3K – $385.7K
NOI $23,141 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$296.5K
$259.5K – $346.0K
NOI $20,757 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$536.1K
$469.1K – $625.5K
NOI $37,527 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,447
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Turnkey two-family building with two leased units and 8 bedrooms and 2 full baths total.
Where is this duplex located?
The property is located at 199 N Lake Avenue Albany, NY.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Fully tenant‑occupied two‑family property with both apartments leased; Total layout includes 8 bedrooms and 2 full baths across two units; Two‑family building on two adjoining lots at 197 and 199 N Lake Ave
