Are you an investor looking for a lucrative opportunity in the real estate market? Look no further than this Albany NY investment property for sale. With a prime location and attractive rental rates, this property is sure to please your bottom line and provide a steady stream of income.
One of the most enticing aspects of this investment property is its ability to house Section 8 tenants. With rents set at $1,760 and $1,200 per month, you can rest assured that the property will always be in demand. Section 8 tenants receive rental assistance from the government, ensuring that the rent is paid consistently and on time, reducing the risk of vacancies and missed payments.
The property features newly rehabbed 2-4 bedroom flats, providing ample space for tenants. The recent renovations ensure that the apartments are in top-notch condition, attracting tenants who are willing to pay premium rents for a comfortable and modern living space. The property’s appeal is further enhanced by its prime location, making it even more desirable to potential tenants.
Now, let’s talk numbers. With a cap rate of 16%, this investment property offers a solid return on your initial investment. The cap rate is a measure of the property’s profitability, calculated by dividing the net operating income by the purchase price. A cap rate of 16% is considered excellent, indicating a high return on investment.
But it doesn’t end there. The cash on cash return is an even more impressive 39%. This figure represents the return on the actual cash invested in the property, taking into account financing costs. A cash on cash return of 39% is exceptional, providing you with a significant boost to your bottom line.
Given the property’s attractive rental rates, prime location, and impressive returns, it is safe to say that this investment opportunity is sure to not disappoint. However, with such a promising investment, it’s essential to act quickly. Properties like these tend to be in high demand, and you wouldn’t want to miss out on this fantastic opportunity.
Don’t hesitate to make an appointment to view this Albany NY investment property today. By seizing this opportunity, you can secure a steady stream of income and enjoy the benefits of a high-performing investment.
273 Second Street, Albany, NY 12206