Building Details

Year Built 1890

Buildings 1

Listing Agency: Staged Nest Real Estate LLC

Listed By: Frances P Callahan · License #30CA0949290 Show Phone

Source: Signatureonerealtygroup

Added: Aug 10 Changed: Oct 6 Last Checked: Oct 5 at 8:51PM

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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 Staged Nest Real Estate LLC

Investment Insights

Based on property information with market context.

This two-unit townhome was designed by architect Albert W Fuller and dates to 1890. Improvements include a 200-amp electrical service installed in 2018, Anderson windows replacing all but 3 original windows, and mini splits. A rear patio was added in 2020, while the rear fence was repositioned to create two parking spaces. Plumbing work serving the water heater and boiler was completed in 2023, followed by a new roof across all sections in 2024/2025.

The property is located at 69 S Lake Avenue in Albany, opposite Washington Park. Its two-unit configuration, off-street parking, updated building systems, and architectural provenance provide a clear profile for residential income ownership.

Key Highlights

• Two‑unit townhome designed by architect Albert W Fuller
• Located opposite Washington Park at 69 S Lake Avenue
• 200‑amp electrical service installed in 2018

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,191

Cap Rate

5.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$503,820 $503.8K

Cap Rate 7%

$359,871 $359.9K

Cap Rate 9%

$279,900 $279.9K

Market Conditions

NOI Build-Up for 2,212 SF

Gross rent

$38.5K $17.40/SF

− Vacancy

−$2.5K −$1.13/SF

EGI

$36.0K $16.27/SF

− OpEx

−$10.8K −$4.88/SF

NOI

$25.2K $11.39/SF

Area

Albany, NY

Vacancy

6.50%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$503,820

Cap Rate 7%

$359,871

Cap Rate 9%

$279,900

Alternative Uses

Best Use

Multifamily LT 5

$359.9K

$314.9K – $419.9K (±1% cap)

NOI $25,191 @ 7.0% cap · market cap 5.93%

Second Best

Apartment 5plus

$322.8K

$282.4K – $376.6K (±1% cap)

NOI $22,595 @ 7.0% cap · market cap 5.32%

Theoretical Best

Office A

$583.6K

$510.6K – $680.9K (±1% cap)

NOI $40,851 @ 7.0% cap · market cap 9.61%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Acupuncture Carpet & Flooring Store (Bike/Boat/Book/etc) Store Furniture & Home Goods HVAC Service Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

3,487

Businesses Nearby

Explore this area Business Placement

Demographics for 12203, NY

28,210

Population

14,755

Households

1.9

Avg Household Size

38

Median Age

54%

College-Educated

95%

High-School Grad

10.4 sq mi

ZIP Area

2,713

Density / Sq Mi

$80,055

Median Household Income

$44,412

Median Earnings

$1,342

Median Rent

$258,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Duplex with upgraded electrical, plumbing, roofing, mini splits, a rear patio, and two parking spaces.

Where is this duplex located?

The property is located at 69 S Lake Avenue Albany, NY.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: Two‑unit townhome designed by architect Albert W Fuller; Located opposite Washington Park at 69 S Lake Avenue; 200‑amp electrical service installed in 2018