95 N Manning Blvd, Albany, NY 12206

Description

Six unit brick investment property offered together with the adjoining approved buildable parcel at 91 N Manning Boulevard. Combined annual gross income of $94,800 ($7,900/month), representing a 6.33 gross rent multiplier. 95 N Manning includes six residential apartments, four rental garages and two storage sheds. 91 N Manning includes four additional rental garages, one storage shed and additional parking, offering future development potential. Income consists of six apartments ($72,000 annually), eight garages ($16,800), three sheds ($3,600), parking ($1,200) and coin-operated laundry ($1,200). Strong rental history with an average tenancy of 16 years and a 0% vacancy rate over the past decade plus. Tenants pay their own electric. No reported history of water intrusion in the basement apartments. A rare chance to own an established income producing investment with multiple revenue streams. Inquire today!