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427 S Pearl Street

Albany, NY 12202
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Bed 4

Bed

Bath 4

Bath

SqFt5,760

Sqft

Acres0.04

Acre(Lot)

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 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 st rong 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!!!!

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Detail Ic Property Details

Property Type : Residential Income

Price : $329,000

AD Id : 85119710

MLS Id : 202619848

Beds : 4

Lot Size : 0.04 Acre

Living Area Size : 5,760

Year Built : 1880

County : Albany

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Feature Features

  • Bedroom Information

    Total beds: 4

    Bathroom Information

    Total Baths: 4 Full Baths: 2 Half Baths: 2

    Room Information

    Has Basement: Yes Basement: Partial, Unfinished
  • Flooring Information

    Ceramic Tile, Laminate
  • Roofing Information

    Rubber, Asphalt
  • Interior Features

    Roof: Rubber, Asphalt
  • Heating & Cooling

    Has Heating: Yes Heating: Electric Has Cooling: Yes Cooling: Central Air, Window Unit(s)

  • Building Information

    Year Built: 1880 Construction Materials: Brick Private Pool: No

  • Lot Information

    Lot Dimensions: 26.1 X 72 Main Square Feet: 0.04 Acres Lot Size Acres: 0.04 Lot Size Square Feet: 1742.4

  • Listing Price Information

    Listing Price: $329000

  • Tax Information

    Parcel Number: 010100 76.73-3-35 Tax Lot: 35.000 Tax Block: 3 Annual Tax: $5154.55

  • Parking Information

    Off Street

  • School Information

    Elementary School:
    Junior High School:
    Senior High School: Albany
  • Utility Information

    Sewer Connected
  • Location Information

    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 WaterSource: Public Security Features: Smoke Detector(s), Carbon Monoxide Detector(s)
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Nearby Home Value

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88 Elizabeth Street, Albany, NY, 12202 $225,000 6 2 2,100 2,100 SqFt
13 Batcher Street, Albany, NY, 12202 $289,900 4 2 1,176 1,176 SqFt
104 2nd Avenue, Albany, NY, 12202 $150,000 4 2 1,954 1,954 SqFt
208 Myrtle Avenue, Albany, NY, 12202 $399,000 3 3 2,850 2,850 SqFt
11 S Dove Street, Albany, NY, 12202 $349,900 7 2 2,454 2,454 SqFt
103 Delaware Avenue, Albany, NY, 12202 $250,000 7 3 3,447 3,447 SqFt

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ByOwner last updated this listing 06/18/2026 @ 18:41

MLS: 202619848 LISTED BY: Victoria McLaughlin, Howard Hanna Capital Inc 518-489-1000 SOURCE: Global MLS

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