Lofty 88 Madison Ave

Lofty 88 Madison Ave

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Location
Albany, NY
Projected Return
26.3%

Company Description

The Owner and Property Manager, Earl Co with Coolwood, LLC, is selling a portion of his property's equity on the Lofty marketplace. He plans to maintain at least 10% ownership.

Earl is a Superhost on Airbnb with 5 years hosting experience, 1,980 reviews, and an overall rating of 4.74/5 stars. He will continue to manage the property after selling a portion of his equity. Click here to view Earl's Superhost profile on Airbnb.

The property has a loan of $189,592. The lender has approved the owner to sell their equity on the Lofty Marketplace. The owner must continue to make monthly payments on their loan balance, as the lender has first lien on the property. Investors on Lofty do not pay a portion of the debt payments. The rental yield after the loan is fully paid off is 13%, based on December's cash flow.

The Rental Yield is based on the equity value of $183,200 (Total Investment Value - Debt).


Fourplex in Downtown Albany, NY. Each of the four units are rented separately on Airbnb, VRBO, and more.

Details

  • This property is a historically significant building situated in The Pastures Historic District, a residential area noted for its remarkable architectural heritage and contribution to Albany's urban narrative.
  • This particular address is listed on the National Register of Historic Places and reflects a slice of American history, encapsulated in the fabric of its construction and the succession of its ownership. Built in a period when Albany was undergoing significant growth, the building at 88 Madison Avenue stands as a testament to the Federal style, indicative of the early 19th-century architectural preferences. View Historical Certificate.
  • The Pastures Historic District itself is a testament to Albany's rich past, with many buildings dating back to the 18th and 19th centuries. The property at 88 Madison Avenue, with its storied past including ownership by Henry Beekman and occupation by Lewis Benedict, contributes to the narrative of Albany's development from a colonial town to a modern city.
  • Great location near Albany Medical Center, Times Union Center, Empire State Plaza, Library, Lark Street, State Offices, courts; easy access to local & regional bus routes and highways (I-787, I-90 & I-87).
  • New York Plans to Invest $1 Billion to Expand Chip Research in Albany. Click here to read more.
  • New furniture and appliances have just been installed in the units.

Property Management and Insurance

Airbnb

Occupancy Status

Location Data

  • "B+" Rating for Zip Code on Niche

Due Diligence Documents

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