Active

1 Loralee Drive

Colonie, NY 12205

$459,500 $1,937/Mo

Get Pre-Approved Check your credit

Overview

Bed

Bath

2,395

Sqft

0.30

Acre(Lot)

Description

Fully rented. $4,050/month in gross rental income. Generate revenue from Day One. Owner financing may be considered for qualified buyers with 50% down. This Village of Colonie three-family offers an established revenue stream from the start. All three units are occupied and generating $4,050 per month / $48,600 annually in gross rental income. Unit 1 rents for $1,400/month with a long-term month-to-month tenant who shares the cost of heat with the sellers. Units 2 and 3 rent for $1,200 and $1,450/month respectively, with signed one-year leases and options to renew for an additional year. Sellers have also had the property pre-inspected, providing buyers with valuable information upfront and removing some of the guesswork. Unit 1 is a first-floor 2 BR, 1-bath apartment with washer /dryer hookups. Unit 2 offers 1 BR, 1 bath, new appliances, an adjoining bonus room ideal for an office, nursery or walk-in closet, plus a new stackable washer and dryer. Upstairs, Unit 3 offers 2 BRs and 1 bath and has recently been improved with new kitchen cabinets, a new range hood, new lighting, and new vinyl plank flooring thoughout. Outside, the property sits on a .30-acre corner lot with paved off-street parking for up to 8 vehicles. Located in the South Colonie School District with Saddlewood Elementary at the end of the street, the property is convenient to shopping, restaurants, Albany International Airport, hospitals and major highways. For buyers looking to add an income-producing property to their portfolio, 1 Loralee Drive offers immediate revenue with tenants already in place

Property Details

Property Type : Residential Income

Price : $459,500

AD Id : 88185806

MLS Id : 202622149

Beds : 5

Lot Size : 0.30 Acre

Living Area Size : 2,395 Sq. Ft

Tax Amount : $6,202

Year Built : 1911

County : Albany

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 5

Bathroom Information

Total Baths: 3 Full Baths: 3

Room Information

Has Basement: Yes Basement: Partial
Flooring Information

Carpet, Ceramic Tile, Hardwood, Laminate
Roofing Information

Asphalt
Interior Features

High Speed Internet, Built-in Features Roof: Asphalt
Heating & Cooling

Has Heating: Yes Heating: Hot Water, Natural Gas Cooling: None

Building Information

Year Built: 1911 Construction Materials: Aluminum Siding Patio And Porch Features: Porch, Patio Private Pool: No
Exterior Features

Exterior Features: Garden

Lot Information

Main Square Feet: 0.3 Acres Lot Size Acres: 0.3 Lot Size Square Feet: 13068 Lot Description: Level, Corner Lot, Garden

Listing Price Information

Listing Price: $459500 Original Price: $468500

Tax Information

Parcel Number: 012601 29.11-3-76 Tax Lot: 76.000 Tax Block: 3 Annual Tax: $6202

Parking Information

Parking Total: 8 Off Street, Paved, Driveway

School Information

Elementary School: Saddlewood ES

Junior High School:

Senior High School: Colonie Central HS
Utility Information

Cable Available, Sewer Connected
Location Information

Direction: Central to Loralee. WaterSource: Public Security Features: Smoke Detector(s), Carbon Monoxide Detector(s)

Sell a home like this and save $27,071 Find out How

How much is this property worth?

Curious about this home's true market value? Use our free Home Evaluation Tool to instantly get a personalized Comparative Market Analysis (CMA) report. Make smarter, data-driven decisions before you buy.

Loading, please wait...

© 2026 Global Multiple Listing Service, Inc. The data relating to real estate on this website comes in part from the Internet Data Exchange program of the GMLS. All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. Copyright © 2026 Global Multiple Listing Service, Inc. All Rights Reserved.

ByOwner last updated this listing 10/06/2026 @ 16:25

MLS: 202622149 LISTED BY: Suzanne Prezio, Suzanne Prezio Properties Inc 518-577-6571 SOURCE: Global MLS