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287 Mrytle Ave 10 Unit Apartment Building $1,731,513 CAD ($173,151 CAD/Unit) 7.50% Cap Rate Albany, NY 12209
Investment Highlights
- 10-Unit Multifamily Portfolio – Two 5-Unit Apartment Buildings
- Strong Unit Mix – Studio, 1-Bedroom & 2-Bedroom Apartments
- Two Properties Offered as One Portfolio – Immediate Scale & Established Cash Flow
- Approximately 10,817 SF Combined Building Area
- $146,052 in Current Gross Annual Income
- 7.5% Cap Rate – Attractive Income-Producing Investment
Executive Summary
10-UNIT MULTIFAMILY INVESTMENT PORTFOLIO | 7.5% CAP RATE | $146,052 GROSS INCOME
Excellent opportunity to acquire a 10-unit multifamily portfolio consisting of two separate 5-unit apartment buildings. Offering approximately 10,817 square feet of combined building area, a strong mix of one- and two-bedroom apartments, and established rental income, this portfolio provides investors with immediate cash flow and long-term investment potential.
INVESTMENT HIGHLIGHTS
10 Total Residential Units
Two 5-Unit Multifamily Buildings
$146,052 Gross Annual Income
7.5% Cap Rate**
Approximately 10,817 SF Combined**
Diverse mix of studio, one-bedroom and two-bedroom apartments
Tenant-paid utilities at the Sparkill Avenue property
Established income-producing multifamily portfolio
Opportunity to acquire two properties in one transaction
SPARKILL AVENUE – 5 UNITS | 6,608 SF
The Sparkill Avenue property contains approximately 6,608 square feet and features a desirable unit mix consisting of:
4 Two-Bedroom Apartments
1 One-Bedroom Basement Apartment
Tenants pay their own utilities, helping control ownership expenses and enhance the property's income-producing potential.
SECOND BUILDING – 5 UNITS | 4,209 SF
The second property contains approximately 4,209 square feet and offers:
3 One-Bedroom Apartments
1 Two-Bedroom Apartment
1 Studio Apartment
The varied apartment mix provides multiple rental price points and broad tenant appeal.
THE OPPORTUNITY
With 10 existing apartments, $146,052 in annual gross income and a 7.5% cap rate, this offering provides investors with the opportunity to acquire immediate scale without having to assemble multiple individual properties.
The portfolio's combination of established rental income, diversified unit mix and approximately 10,817 square feet of residential space makes it an attractive acquisition for investors seeking cash flow, portfolio expansion and long-term multifamily ownership.
Two Buildings. Ten Units. One Investment Opportunity.
Financial information and additional property details available to qualified buyers.
Excellent opportunity to acquire a 10-unit multifamily portfolio consisting of two separate 5-unit apartment buildings. Offering approximately 10,817 square feet of combined building area, a strong mix of one- and two-bedroom apartments, and established rental income, this portfolio provides investors with immediate cash flow and long-term investment potential.
INVESTMENT HIGHLIGHTS
10 Total Residential Units
Two 5-Unit Multifamily Buildings
$146,052 Gross Annual Income
7.5% Cap Rate**
Approximately 10,817 SF Combined**
Diverse mix of studio, one-bedroom and two-bedroom apartments
Tenant-paid utilities at the Sparkill Avenue property
Established income-producing multifamily portfolio
Opportunity to acquire two properties in one transaction
SPARKILL AVENUE – 5 UNITS | 6,608 SF
The Sparkill Avenue property contains approximately 6,608 square feet and features a desirable unit mix consisting of:
4 Two-Bedroom Apartments
1 One-Bedroom Basement Apartment
Tenants pay their own utilities, helping control ownership expenses and enhance the property's income-producing potential.
SECOND BUILDING – 5 UNITS | 4,209 SF
The second property contains approximately 4,209 square feet and offers:
3 One-Bedroom Apartments
1 Two-Bedroom Apartment
1 Studio Apartment
The varied apartment mix provides multiple rental price points and broad tenant appeal.
THE OPPORTUNITY
With 10 existing apartments, $146,052 in annual gross income and a 7.5% cap rate, this offering provides investors with the opportunity to acquire immediate scale without having to assemble multiple individual properties.
The portfolio's combination of established rental income, diversified unit mix and approximately 10,817 square feet of residential space makes it an attractive acquisition for investors seeking cash flow, portfolio expansion and long-term multifamily ownership.
Two Buildings. Ten Units. One Investment Opportunity.
Financial information and additional property details available to qualified buyers.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$202,313
|
$27.35
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$10,115
|
$1.37
|
| Effective Gross Income |
$192,198
|
$25.99
|
| Taxes |
$31,450
|
$4.25
|
| Operating Expenses |
$35,205
|
$4.76
|
| Total Expenses |
$66,655
|
$9.01
|
| Net Operating Income |
$125,543
|
$16.97
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $202,313 |
| Annual Per SF | $27.35 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $10,115 |
| Annual Per SF | $1.37 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $192,198 |
| Annual Per SF | $25.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $31,450 |
| Annual Per SF | $4.25 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $35,205 |
| Annual Per SF | $4.76 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $66,655 |
| Annual Per SF | $9.01 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $125,543 |
| Annual Per SF | $16.97 |
Property Facts
| Price | $1,731,513 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $173,151 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 7.50% | Building Size | 10,817 SF |
| No. Units | 10 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1929 |
| Zoning | R2A | ||
| Price | $1,731,513 CAD |
| Price Per Unit | $173,151 CAD |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 10,817 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1929 |
| Zoning | R2A |
Amenities
Unit Amenities
- Balcony
- Cable Ready
- Heating
- Ceiling Fans
- Tile Floors
- Crown Molding
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Yard
- Double Pane Windows
- Lawn
- Porch
- Smoke Free
- Vinyl Flooring
Site Amenities
- Laundry Facilities
- Trash Pickup - Curbside
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $1,864 CAD | - |
| 2+1 | 2 | $1,819 CAD | - |
| 2+1 | 1 | $1,819 CAD | - |
| 2+1 | 2 | $1,884 CAD | - |
| 1+1 | 1 | $1,732 CAD | - |
| 1+1 | 1 | $1,490 CAD | - |
| 2+1 | 2 | $1,863 CAD | - |
| Studios | 2 | $1,489 CAD | - |
| 1+1 | 3 | $1,454 CAD | - |
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Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 010100-075-076-0001-045-000-0000 | Total Assessment | $437,588 CAD |
| Land Assessment | $26,319 CAD | Annual Taxes | $31,450 CAD ($2.91 CAD/SF) |
| Improvements Assessment | $411,269 CAD | Tax Year | 2025 Payable 2026 |
Property Taxes
Parcel Number
010100-075-076-0001-045-000-0000
Land Assessment
$26,319 CAD
Improvements Assessment
$411,269 CAD
Total Assessment
$437,588 CAD
Annual Taxes
$31,450 CAD ($2.91 CAD/SF)
Tax Year
2025 Payable 2026
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DiMatteo Realty
287 Mrytle Ave
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