Opportunity meets character at 427 S Pearl St, a fully remodeled mixed-use building featuring one of Albany's last historic bar spaces paired with two income-producing apartments. The commercial space offers a fully renovated bar/lounge, complete with a stunning custom bar, dining area, kitchen, office, and one ADA-compliant bathroom… Read More 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!!!! Read Less
Courtesy of Victoria McLaughlin (518-429-7484), Howard Hanna Capital Inc.
Listing Snapshot
Days Online
1
Last Updated
Property Type
Triplex
Beds
4
Full Baths
2
Partial Baths
2
Lot Size
0.04 Acres
Year Built
1880
MLS Number
202619848
30 Days Snapshot Of 12202
$177k
+15%
(avg) sold price
1
-66%
home sold
50
-72%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
Basement: "Partial", "Unfinished"
Building
Construction Materials: "Brick", Living Area: 5,760, Number Of Units Total: 3, Year Built: 1880
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