Wholesale Fix And Flip Cash Flowing

HOT TRIPLEX DEAL (52.7% under market value)

275 Second Ave, Albany, NY 12209

$395,000 After Repair Value -
$186,500 Asking Price -
$90,000 Cost of Repairs =
$118,500 Potential Profit

Property Details

Asking Price $186,500

After Repair Value $395,000

Costs of Repairs $90,000

Potential Profit $118,500

Living Area 3600 ft2

Property Type TriPlex

Bedrooms +6

Bathrooms 3

Half Bathrooms N/A

Parking 0

Listed with Agent 1

EPI (Estimated Potential Income)

Potential Rental Income $6,300

Yearly Expenses $21,420

Property Taxes $4,800

Net Operating Income $54,180

Cap Rate 29%

Property Description

275 2nd Avenue, Albany, NY, 12209Property Information:3 Units / 8 Bedrooms / 3 Bathrooms3,600 Living SqFtEstimated 3,000–4,000 SqFt LotLegal TriplexFully Bricked Exterior (Recently Renovated to Meet County Requirements)VacantNeeds Interior RenovationLocated Near University at Albany (12-minute drive)Strong Rental Demand: $6,300/Mo Rent PotentialMarket Value (ARV): $395,000Buying Information:$186,500 Cash or Hard Money$5,000 Non-Refundable EMDBuyer to Provide Proof of FundsClosing Date: TBD (Quick Close Preferred)Buyer Pays Closing Costs (Estimated at ~5%, approx. $9,325)Escrow to be held with buyer’s preferred attorney or title companySold Comps:167 2nd Avenue, Albany, NY 12202 – 8/3 – Sold $370,000184 S Swan Street, Albany, NY 12202 – 8/3 – Sold $417,00015 Delaware Street, Albany, NY 12202 – 8/3 – Sold $395,000Additional Notes:Property is 3,600 sq ft, larger than all compsIdeal for fix-and-flip or buy-and-holdHigh rental demand area (Albany is 63% renter-occupied)Potential gross rents of $75,600 annuallyExterior improvements already complete — full brick wrap done per Albany County mandate -

Repairs Needed

The inside needs work, one floor needs major work, other two floors need touch ups and appliance work. 10-20% safety net included in the repair cost.

CONTACT LISTING OWNER

Bryan Valdemar

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