38 Main Ave Albany, NY 12208
- Small apartment buildings
Current Use by Public Records
- The Westerly / Apartment Building
Property Details for 38 Main Ave
- Property type
- Small apartment buildings
Description
This exceptional investment opportunity presents a 21-unit, five-story apartment building located at 38 S Main Avenue in Albany, New York, 12208. Priced at $2,427,000, this property boasts a strong rental history and is currently 100% occupied, offering immediate cash flow. The building features a convenient elevator and an attractive lobby and common area, enhancing tenant appeal. Its prime location offers easy access to key Albany attractions, including state Capital buildings, SUNY Albany, and major highways. The building's design is reminiscent of classic New York City apartment buildings. Tenants are responsible for their own utilities, while the landlord covers hot water and cable/internet expenses. This well-maintained property represents a compelling investment prospect in a thriving urban setting. The property is classified as both commercial and multifamily, offering a versatile investment opportunity. The building is situated in Albany County and benefits from its proximity to various amenities and transportation networks. This is a rare opportunity to acquire a fully occupied, high-performing multifamily asset in a desirable location. The building's strong occupancy rate and convenient amenities make it an attractive investment for both seasoned and new investors.
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
- -73.7905775
- Latitude
- 42.6626095
