UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,395 sqft
Price per Sqft $191
MLS Listing ID 202622149
Bedrooms 5
Full Baths 3
HOA Y/N No
Year Built 1911
Annual Tax Amount $6,202
Lot Size 0.300 Acres
Acres 0.3
Property Sub-Type Triplex
Source Global MLS
Property Description
This Village of Colonie three-family offers an established revenue stream from the start. All three units are occupied and generating $4,050 per month / $48,600 annually in gross rental income. Unit 1 rents for $1,400/month with a long-term month-to-month tenant who shares the cost of heat with the sellers. Units 2 and 3 rent for $1,200 and $1,450/month respectively, with signed one-year leases and options to renew for an additional year.
Sellers have also had the property pre-inspected, providing buyers with valuable information upfront and removing some of the guesswork.
Unit 1 is a first-floor 2 BR, 1-bath apartment with washer/dryer hookups. Unit 2 offers 1 BR, 1 bath, new appliances, an adjoining bonus room ideal for an office, nursery or walk-in closet, plus a new stackable washer and dryer. Upstairs, Unit 3 offers 2 BRs and 1 bath and has recently been improved with new kitchen cabinets, a new range hood, new lighting, and new vinyl plank flooring thoughout.
Outside, the property sits on a .30-acre corner lot with paved off-street parking for up to 8 vehicles. Located in the South Colonie School District with Saddlewood Elementary at the end of the street, the property is convenient to shopping, restaurants, Albany International Airport, hospitals and major highways.
For buyers looking to add an income-producing property to their portfolio, 1 Loralee Drive offers immediate revenue with tenants already in place
Location
State NY
County Albany
Direction Central to Loralee.
Interior
Interior Features Paddle Fan, High Speed Internet, Built-in Features, Ceramic Tile Bath
Heating Hot Water, Natural Gas
Flooring Carpet, Ceramic Tile, Hardwood, Laminate
Exterior
Exterior Feature Garden
Parking Features Off Street, Paved, Driveway
Utilities Available Cable Available
Roof Type Asphalt
Porch Porch, Patio
Building
Lot Description Level, Corner Lot, Garden
Sewer Public Sewer
Water Public
Architectural Style Traditional
Schools
School District South Colonie
Others
Tax ID 012601 29.11-3-76
Special Listing Condition Standard
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