335 1st StreetAlbany, NY, 12206Copy address

Excellent Investment Opportunity - Two-Unit Property with a cap rate of 8.18% just off one unit. Don't miss this opportunity to own an income-producing two-unit property with additional upside potential! This property features a long-term tenant currently paying $1,826 per month, with a scheduled rent increase to $1,981 effective January 1, 2027, providing an opportunity to maximize rental income. Recent improvements include a NEW ROOF, NEW SIDING, and NEW HOT WATER TANK! The second unit is currently vacant and ready for its next owner. Whether you're looking to owner-occupy while collecting rental income from the other unit or lease the vacant apartment to maximize your investment returns, the possibilities are there. INVESTORS TAKE NOTICE! This property offers a current cap rate of 8.18%, with the potential to increase to 9.28% effective January 1, 2027, following the scheduled rent increase. Even better, these numbers are based solely on the currently occupied unit and DO NOT include any potential rental income from the vacant unit! Showing are restricted to M, W, F & Saturdays from 10am -7pm.