102 S Lake Avenue
Albany, NY 12208
$1,884,159
Turnkey 18-Unit Portfolio - $1,990,000 ($110K/Unit) Rare opportunity to own two adjacent, fully occupied multifamily buildings in Albany's desirable Park South neighborhood. 102 & 106 S Lake Ave feature a combined 18 units across ±10,263 SF on ±0.39 acres, just steps from Washington Park, Albany Medical Center, and the Empire State Plaza. Priced at $1.99M with a 7.01% cap rate based on current rents. Properties are very well maintained with no deferred maintenance. Includes ample off-street parking, a 3-car garage, and coin-operated laundry for additional income. Upside potential through rent increases on below-market units and monetizing parking. Strong rental history makes this a perfect fit for investors seeking stable cash flow and long-term growth in a thriving urban location.
| Listing Id: | 202526005 |
|---|---|
| List Price: | $1,990,000 |
| Close Price: | $1,884,159 |
| Close Date: | 2026-08-06 |
| Property Type: | Multi-Family |
| Property Sub Type: | Multi Family |
| Status: | Closed |
| Bedrooms Total: | 21 |
| Bathrooms Full: | 18 |
| Living Area: | 10,263 |
| Tax Annual Amount: | $20,973 |
| Lot Size Square Feet: | 9,147.6 |
| Lot Size Acres: | 0.21 |
| Architectural Style: | Apartment 4 Plus Unit |
| Waterfront?: | No |
| City: | Albany |
| County Or Parish: | Albany |
| Subdivision Name: | Select One |
| Postal Code: | 12208 |
| Year Built: | 1900 |
| Number Of Units Total: | 18 |
| List Agent Full Name: | Rudy R Lynch |
| Buyer Agent Full Name: | Rudy R Lynch |
| Co List Agent Full Name: | Thomas A Miller |
| Exterior Features: | Other |
| Lot Size Units: | Acres |
| Heating?: | Yes |
| Bathrooms Total Integer: | 18 |
| Basement: | true |
| Basement: | Finished |
| State Or Province: | NY |
| Special Listing Conditions: | Standard |
| Sewer: | Public Sewer |
| High School: | Albany |
| Roof: | Rubber, Slate |
| Lot Size Area: | 0.21 |
| Zoning: | Multi Residence |
| Documents Change Timestamp: | 2025-09-17T17:36:29Z |
| Directions: | S Lake Ave between Washington Ave and Morris St |
| Garage Spaces: | 3.0 |
| Listing Contract Date: | 2025-09-17 |
| Parcel Number: | 010100 65.77-4-14 |
| List Agent Key: | 20211012215631414522000000 |
| Construction Materials: | Vinyl Siding |
| Parking Total: | 9 |
| Water Source: | Public |
| Co List Office Key: | 20211012214133968089000000 |
| Co List Agent Key: | 20211012215516724270000000 |
| High School District: | Albany |
| Above Grade Finished Area: | 10,263.0 |
| Below Grade Finished Area: | 4,672.0 |
| Buyer Agent Key: | 20211012215631414522000000 |
| Buyer Office Key: | 20211012214133968089000000 |
| Postal City: | Albany |
| Above Grade Finished Area Source: | Public Records |
| Original List Price: | $1,990,000 |
| Possession: | At Closing |
| Cross Street: | Washington Avenue |
| Pending Timestamp: | 2026-02-13 |
| Below Grade Finished Area Source: | Public Records |
| Buyer Agent Middle Name: | R |
| Bathrooms Total Decimal: | $18.00 |
| Property Detail Enhanced Accessible Yn2: | No |
| Status Change Info Sold Price Sq Ft2: | $183.59 |
| Parcel Tax Hoa Total Taxes Description: | See Remarks |
| Bath Levels Full Bath 1: | 1st |
| Bath Levels Full Bath 2: | 1st |
| Bath Levels Full Bath 3: | 1st |
| Bath Levels Full Bath 4: | 1st |
| Bath Levels Full Bath 5: | 1st |
| Bath Levels Full Bath 6: | 2nd |
| Bath Levels Full Bath 7: | 2nd |
| Bath Levels Full Bath 8: | 2nd |
| Bath Levels Full Bath 9: | 3rd |
| Bath Levels Full Bath 10: | 3rd |
| Multi Family Unit 1 Detail Unit Location Mf Unit 1: | 1 |
| Multi Family Unit 1 Detail Total Rooms Mf Unit 1: | 3 |
| Multi Family Unit 1 Detail Total Bedrooms Mf Unit 1: | 1 |
| Multi Family Unit 1 Detail Total Full Baths Mf Unit 1: | 1 |
| Multi Family Unit 2 Detail Unit Location Mf Unit 2: | 2 |
| Multi Family Unit 2 Detail Total Rooms Mf Unit 2: | 3 |
| Multi Family Unit 2 Detail Total Bedrooms Mf Unit 2: | 1 |
| Multi Family Unit 2 Detail Total Full Baths Mf Unit 2: | 1 |
| Multi Family Unit 3 Detail Unit Location Mf Unit 3: | 3 |
| Multi Family Unit 3 Detail Total Rooms Mf Unit 3: | 3 |
| Multi Family Unit 3 Detail Total Bedrooms Mf Unit 3: | 1 |
| Multi Family Unit 3 Detail Total Full Baths Mf Unit 3: | 1 |
| Multi Family Unit 4 Detail Unit Location Mf Unit 4: | 4 |
| Multi Family Unit 4 Detail Total Rooms Mf Unit 4: | 3 |
| Multi Family Unit 4 Detail Total Bedrooms Mf Unit 4: | 1 |
| Multi Family Unit 4 Detail Total Full Baths Mf Unit 4: | 1 |
| Multi Family Unit 5 Detail Unit Location Mf Unit 5: | 5 |
| Multi Family Unit 5 Detail Total Rooms Mf Unit 5: | 3 |
| Multi Family Unit 5 Detail Total Bedrooms Mf Unit 5: | 1 |
| Multi Family Unit 5 Detail Total Full Baths Mf Unit 5: | 1 |
| Multi Family Unit 6 Detail Unit Location Mf Unit 6: | 6 |
| Multi Family Unit 6 Detail Total Rooms Mf Unit 6: | 3 |
| Multi Family Unit 6 Detail Total Bedrooms Mf Unit 6: | 1 |
| Multi Family Unit 6 Detail Total Full Baths Mf Unit 6: | 1 |
| Multi Family Unit 7 Detail Unit Location Mf Unit 7: | 7 |
| Multi Family Unit 7 Detail Total Rooms Mf Unit 7: | 3 |
| Multi Family Unit 7 Detail Total Bedrooms Mf Unit 7: | 1 |
| Multi Family Unit 7 Detail Total Full Baths Mf Unit 7: | 1 |
| Multi Family Unit 8 Detail Unit Location Mf Unit 8: | 8 |
| Multi Family Unit 8 Detail Total Rooms Mf Unit 8: | 3 |
| Multi Family Unit 8 Detail Total Bedrooms Mf Unit 8: | 1 |
| Multi Family Unit 8 Detail Total Full Baths Mf Unit 8: | 1 |
| Open Parking?: | Yes |
| Approval Status: | Yes |
| Photos - the contractual owner of the photos Photo Owner 3: | Broker |
| Separate Utilities: | Electric, Gas |
| Architectural Style: | Apartment 4 Plus Unit |
| Exterior Features: | Other |
Listing Courtesy of: Carrow Real Estate Services LLC
Listing Agent: Rudy R Lynch
518-337-3705
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Data last updated October 08, 2026 05:02 PM - ET.
Property Last Updated: October 08, 2026 05:02 PM - ET
