4 Family House in Albany, NY, Needs Update,
Located on Alexander St in the South End-Groesbeckville Historic District, Albany, NY. This legal 4 family building is completely vacant and needs TLC, handyman's special. The house already has new siding & the roof was done too, though the interior needs update. The layout includes 2 apartments that have 2 bedrooms each, and another 2 apartments of 1 bedroom each. All the unit have their own individual heating system (electric baseboard) so tenants will pay for their own heat. The building is selling As-Is, and the owner prefers an all-cash deal, though the house may be qualified for a conventional mortgage. The ARV should be around $450,000, and the house should be graet for investors to hold on, as the CAP rate projected to be at least 10%. Other brokers are welcome, but please no "whole sellers" & contract flippers. Please contact Jay for more info.
Asking: $249,000 Preferably All-Cash
