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552 Madison Ave
Albany, NY 12208

Multifamily Property For Sale · 5 Units

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EXECUTIVE SUMMARY

**CAN BE SOLD AS A PACKAGE WITH 558 MADISON AVENUE** Seize a rare opportunity to own 5 units ideally located on the corner of New Scotland and Madison Avenue directly across from Washington Park and Albany Medical Center. This property is an investor or owner-occupier's dream, standing two stories and containing three 1BD/1BA units and two 2BD/1BA units, floor plan included in documents. One unit is occupied and the other four are primed for cosmetic renovations. The building dons historic details such as custom-doors, a beautiful brick facade, hardwood floors, and original moldings. Properties with this character and location are scarce, so act fast to capitalize on this unique chance!

PROPERTY FACTS

Price Per Unit	$140,000	Apartment Style	Low Rise
Sale Type	Investment	Building Class	C
Cap Rate	6.15%	Lot Size	0.08 AC
Sale Conditions	Bulk/Portfolio Sale Deferred Maintenance High Vacancy Property	Building Size	3,684 SF
Gross Rent Multiplier	10	No. Stories	2
No. Units	5	Year Built	1875
Property Type	Multifamily	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype	Apartment

Price Per Unit	$140,000
Sale Type	Investment
Cap Rate	6.15%
Sale Conditions	Bulk/Portfolio Sale Deferred Maintenance High Vacancy Property
Gross Rent Multiplier	10
No. Units	5
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.08 AC
Building Size	3,684 SF
No. Stories	2
Year Built	1875
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

PROPERTY TAXES

Parcel Number	010100-076-023-0001-002-000-0000	Improvements Assessment	$142,400
Land Assessment	$35,000	Total Assessment	$177,400

PROPERTY TAXES

Parcel Number

010100-076-023-0001-002-000-0000

Land Assessment

$35,000

Improvements Assessment

$142,400

Total Assessment

$177,400

ZONING

Zoning Code	C1
C1

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Listing ID: 32960044
Date on Market: 8/26/2024
Last Updated:
Address: 552 Madison Ave, Albany, NY 12208

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