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About the Listing o3288A - 22029
FULLY RENTED 3-FAMILY | $48,600 ANNUAL GROSS INCOME INVESTORS, TAKE NOTICE! Exceptional opportunity to own an established, income-producing three-family property in the desirable Village of Colonie and South Colonie School District! All three apartments are currently rented, generating $4,050 monthly — $48,600 annually in gross rental income! Adding to the property's investment appeal is an 18-year long-term tenant who contributes 50% toward the property's gas heating bill, helping offset an important operating expense. Owner financing may be considered for a qualified buyer with 50% down. Offering approximately 2,395 square feet, this property features three distinct apartments with a total of five bedrooms and three full bathrooms. Unit 1: First-floor two-bedroom apartment occupied by a reliable, long-term tenant of 18 years, featuring washer/dryer hookups. Unit 2: One-bedroom apartment featuring newer appliances, a versatile bonus room ideal for a home office, walk in closet or flexible living space, and a stackable washer and dryer. Unit 3: Two-bedroom upper apartment recently refreshed with new kitchen cabinetry, range hood, updated lighting, and attractive vinyl plank flooring. Situated on a generous 0.30-acre corner lot, the property offers paved off-street parking for up to eight vehicles — an excellent convenience for a multi-family investment. Centrally located near shopping, restaurants, Albany International Airport, hospitals, major highways, and local amenities. Property pre-inspection documentation and current rental information available for buyer review. Whether expanding your investment portfolio or purchasing your first income property, 1 Loralee Drive offers established rental income, a long-term tenancy, recent improvements, and a convenient location. Schedule your private showing today!
Listing Highlights for 1 Loralee Dr
Interior Details
- Bedrooms: 5
- Bathrooms: 3 Full
- Appliances:
- Air Cond:
- Heating: Hot Water,Natural Gas
- Fireplaces:
- Floor: Carpet,Ceramic Tile,Hardwood,Laminate
- Above Ground Sq Ft: 2395
- Basement: Partial
- Other: Paddle Fan,High Speed Internet,Built-in Features,Ceramic Tile Bath
- Water: Public
Exterior Details
- Lot Description: Level,Corner Lot,Garden
- Garage Capacity: N/A
- Parking Spaces: 8
- Roof: Asphalt
- Others: Garden
- Sewer: Public Sewer
- Parking Features: Off Street,Paved,Driveway
Financial Details
- Tax Amount: $6,202
- Taxes w/Assessments: N/A
- Tax/Property ID: 012601 29.11-3-76
- Tax Year: N/A
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Listing Location
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1 Loralee Dr Albany, NY 12205
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