427 S Pearl Street Albany, NY 12202
4 Beds
4 Baths
5,760 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 5,760 sqft
Price per Sqft $57
MLS Listing ID 202619848
Bedrooms 4
Full Baths 2
Half Baths 2
HOA Y/N No
Year Built 1880
Annual Tax Amount $5,154
Lot Size 1,742 Sqft
Acres 0.04
Lot Dimensions 26.1 X 72
Property Sub-Type Triplex
Source Global MLS
Property Description
The commercial space offers a fully renovated bar/lounge, complete with a stunning custom bar, dining area, kitchen, office, and one ADA-compliant bathroom and one standard bathroom, along with a mop/broom closet. RESTAURANT EQUIPMENT CONVEYS WITH THE SALE OF THE PROPERTY! With USB-integrated outlets, updated systems, and a brand-new high-efficiency gas heater (2025), this space is turnkey and ready for its next concept. Currently generating $1,500/month with upside to ~$2,000/month upon liquor license approval.
Upstairs, two spacious 2-bedroom apartments feature updated layouts, large bathrooms, and strong rental history; both currently occupied (month-to-month) at $1,300 and $1,400/month.
Major improvements include new roof (2018), full electrical service update (2023), new sewer line to street (2024), updated plumbing with PEX throughout, and newer hot water tanks--offering peace of mind for years to come.
Tenants pay utilities, keeping operating expenses low and returns strong.
Whether you're an investor seeking cash flow or an owner-user looking to operate a business while collecting residential income- this is a rare find in the City of Albany!
Current Income:
Bar: $1,500/mo = $18,000/year
Apts: $2,700/mo = $32,400/year
Total Gross = $50,400/year
Expenses:
Taxes: $9,963
Insurance: $2,568
Water/Sewer: ~$675
Total Expenses ≈ $13,206
NOI (Net Operating Income):
$50,400 - $13,206 = $37,194
CAP Rate (Current):
*11.3%*
11%+ cap rate, built-in income, and serious upside...this is the deal investors wait for!!!!
Location
State NY
County Albany
Zoning Mixed
Direction Get on I-90 E in Albany from Sand Creek Rd 9 min (3.2 mi) Continue on I-90 E. Take I-787 S to Green St. Take exit 2 from I-787 S 6 min (5.4 mi) Drive to S Pearl St 1 min (0.4 mi) 427 S Pearl St Albany, NY 12202
Interior
Interior Features Chair Rail
Heating Electric
Flooring Ceramic Tile, Laminate
Exterior
Parking Features Off Street
Roof Type Rubber,Asphalt
Building
Sewer Public Sewer
Water Public
Schools
School District Albany
Others
Tax ID 010100 76.73-3-35
Special Listing Condition Standard
