Albany Portfolio

264 South Allen Street,
Albany, NY 12208

93 Unit portfolio surrounding St. Peters Hospital

$7,500,000
Price
7.60
GRM
$80,645
Price Per Unit
93
Number of Units
7.14%
Cap Rate
65,728
Building SF
$7,500,000
Price
7.60
GRM
$80,645
Price Per Unit
93
Number of Units
7.14%
Cap Rate
65,728
Building SF

Rare Opportunity to force appreciation

  • Rare Opportunity to purchase 93 Units spread over 11 properties in A+ Locations. - 11 units already renovated, achieving market or slightly lower than market rate. - 8 units need to be gut renovated to come back online at market rate. - Remaining 74 units need facelifts and rent increases to achieve market rates. All 11 Properties are with in a few blocks of each other. Strategically located between two major Hospitals; St. Peters Hospital (over 11,000 employees) and Albany Medical Center (over 16,000 employees)

12 Parcels in A+ Location

  • Assortment of multifamily properties in A+ location. Walking distance to major employers, universities and hospitals. 196 South Allen Street - 10 Units Owner pays Heat and Hot Water 210 South Allen Street - 10 Units Owner pays Heat and Hot Water 265 South Allen Street - 8 Units Owner pays Heat and Hot Water 264 South Allen Street (Harmony House) - 11 Units Owner pays Heat and Hot Water 274 South Allen Street (Harmony House) - 9 Units Owner pays Heat and Hot Water 27 Winnie Street (202-204 S allen) - 16 Units Owner pays Heat and Hot Water 29 Winnie Street - 2 Units Separate Utilities 31 Winnie Street - 2 Units Separate Utilities 34 Glenwood Street - 10 Units Separate Utilities 38 Glenwood Street - 10 Units Owner pays Heat and Hot Water 603 Providence Street - 5 Units Owner pays Heat and Hot Water 607 Providence Street - Vacant Land
FOR MORE DETAILS CONTACT
Peter Tryon
(518) 598-4000
pete@bluehouseco.com