3 Leonard Pl Albany, NY 12202
- Commercial real estate
- 5,750 SF
- 0.13 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 3 Leonard Pl
- Year built
- 1920
- Lot size
- 0.13 lot acres
- Property size
- 5,750 SF
- Property type
- Commercial real estate
- APN
- 76.39-1-13 01
Description
This exceptional multifamily investment opportunity presents a three-story, eight-unit apartment building located at 3-4 Leonard Place in Albany, New York, 12202. The property, built in 1920, boasts a total of 5,750 square feet situated on a 0.13-acre lot. The asking price is $735,000, translating to a price per square foot of $127.83 and a price per unit of $91,875. The building includes four parking spaces, a significant advantage in this location. The property is zoned R2A. The building comprises one structure with eight units, offering a mix of fully renovated units and units ripe for upgrades to enhance rental income. This presents a compelling opportunity to increase the property's overall return on investment. This is an ideal investment for both first-time investors seeking a strong entry point into the multifamily market and experienced investors looking to expand their existing portfolio. The property includes two parcels: 3 Leonard (APN 76.39-1-13) and 4 Leonard (APN 76.39-1-12). This well-located Albany property offers significant potential for growth and strong cash flow.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Albany
- State
- New York
- Longitude
- -73.7698902
- Latitude
- 42.648615
