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!
Property Type(s):
Multi Family
|
Last Updated
|
10/28/2026
|
Year Built
|
1911
|
|
County
|
Albany
|
SCHOOLS
| Elementary School |
Saddlewood ES |
| High School |
Colonie Central HS |
Price History
|
Prior to Oct 5, '26
|
$468,500 |
|
Oct 5, '26 - Oct 28, '26 |
$459,500 |
| Oct 28, '26 - Today |
$448,900 |
Additional Details
| AIR |
None |
| BASEMENT |
Partial, Yes |
| CONSTRUCTION |
Aluminum Siding |
| EXTERIOR |
Garden |
| HEAT |
Hot Water, Natural Gas |
| INTERIOR |
Built-in Features, High Speed Internet |
| LOT |
0.3 acre(s) |
| LOT DESCRIPTION |
Corner Lot, Garden, Level |
| LOT DIMENSIONS |
0.3 |
| PARKING |
Off Street, Paved, Driveway |
| SEWER |
Public Sewer |
| STYLE |
Traditional |
| TAXES |
6202 |
| UTILITIES |
Cable Available, Sewer Connected |
| WATER |
Public |
Location
This listing courtesy of Suzanne Prezio Properties Inc
Listing information is deemed reliable, but not guaranteed.
This IDX solution is (c) Diverse Solutions 2026.
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