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5br - 2400ft^2 - 3 unit owner occupied property. No easier way to save and build wealth

Property Description

This is a 3 unit owner occupied property in move in condition. It has 2 one bedroom apartments and 1 three bedroom apartment. Great for someone that wants to live in one unit and rent the other two.
Currently the apartments are as follows:
1A = one bedroom apartment; rented for $795 a month with a lease until July 1 2015.
1B= one bedroom apartment; renter for 825, month to month, but looking to stay until June 2016
2A= three bedroom apartment is owner occupied (the three bedroom can be rented for $1200 to $1350 a month).
Current total monthly income: $1620
You will not find a 3 unit property in such great shape, great location, and with so many bedrooms at this price in Albany's student rental area. It has a three year old furnace, great looking hardwood floors, 5-6 car fenced in drive way, and good sized back yard.
The only con is that the roof is older and will need work in the next few years. It currently has no know problems. Price is has been reduce to reflex the need of that future work.
It is a must see for anyone that wants to be a homeowner, yet not have to worry about high mortgage payments.
Taxes are reasonable for a 3 unit in Albany, just under $4,100 without the STAR program.
The two one bed room apartments are on the same meter for gas and electric, in 2014 spent under $2,500 for the year. The 3 bedroom apartment is one it's own meter.
Also spent under $1,100 on water and sewer fees.
Estimated monthly mortgage (escrow) payments : $1200-$1350
No easier way to save and build wealth.
Seller is also a licensed agent.

Contact Information

Contact person: owner
Seller Type: PrivateOwner
Phone: 518-512-9787
Web Link:

Listing Information

Listing Status: For Sale
Property Type: Single Family
Price($): 169990
Street Address: King Ave at Bradford St.
City: albany
Region: New York
ZIP/Postal Code:
Bedrooms: 5
Bathrooms: 3
Square Feet: 2400
Lot Size:
Year Built:
Owner Finance: No
Cap Rate:
Net Operating Income:
Price Per Square Foot:

Additional Feature:


All information provided by the listing agent/broker or by the seller is deemed reliable, but is not guaranteed and should always be independently verified.



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