3 Leonard PlAlbany, NY 12202

For Sale
$735,000

Eight-unit building, excellent potential

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional multifamily investment opportunity presents a three-story, eight-unit apartment building located at 3-4 Leonard Place in Albany, New York, 12202. The property, built in 1920, boasts a total of 5,750 square feet situated on a 0.13-acre lot. The asking price is $735,000, translating to a price per square foot of $127.83 and a price per unit of $91,875. The building includes four parking spaces, a significant advantage in this location. The property is zoned R2A. The building comprises one structure with eight units, offering a mix of fully renovated units and units ripe for upgrades to enhance rental income. This presents a compelling opportunity to increase the property's overall return on investment. This is an ideal investment for both first-time investors seeking a strong entry point into the multifamily market and experienced investors looking to expand their existing portfolio. The property includes two parcels: 3 Leonard (APN 76.39-1-13) and 4 Leonard (APN 76.39-1-12). This well-located Albany property offers significant potential for growth and strong cash flow.

Highlights

  • Eight-unit multifamily building in Albany, NY.
  • 5,750 square feet on a 0.13-acre lot.
  • Asking price: $735,000 ($127.83/SF, $91,875/unit).
  • Four on-site parking spaces.
  • Mix of renovated and value-add units.
  • R2A zoning.

Property Details for 3 Leonard Pl

Property type
Multifamily properties, Apartment buildings
Square Feet
5,750 SF
Year Built
1920
Buildings
1
Stories
3
Lot Size (sq. ft)
5,663 SF
Units
8

Location Insight

City
Albany
County
Albany
State
New York
Latitude
42.648615
Longitude
-73.7698902
3 Leonard Pl, Albany, New York

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3 Leonard Pl
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