1 Loralee Drive
Albany, NY 12205
5
Bedrooms
3
Bathrooms
2,395
Sq Ft
1911
Year Built
About This Property
An opportunity like this doesn't come along often. This triplex in the Village of Colonie offers exceptional flexibility, whether you're looking for an owner-occupied property, a multi-generational living arrangement, or an addition to your investment portfolio. Ideally located, the property has also been pre-inspected by the sellers, allowing you to move forward with added confidence. Unit 1 is a first-floor, 2-bedroom, 1-bath apartment with a long-term month-to-month tenant in place and convenient washer/dryer hookups. Unit 2 features 1 bedroom, 1 bath, new appliances plus an adjoining bonus room that's perfect for a nursery, home office, or walk-in closet. A stackable washer and dryer are already in place for added convenience. Upstairs, Unit 3 has been freshly painted and professionally cleaned. It offers 2 bedrooms and 1 bath. Units 2 and 3 are vacant and ready for immediate occupancy, giving you the flexibility to choose your own tenants or move right in. Situated on a level corner lot in the South Colonie School District, with Saddlewood Elementary located at the end of the street, the property is close to shopping, restaurants, Albany International Airport, major highways, hospitals, with the low taxes and all the conveniences Colonie has to offer. A rare Village of Colonie triplex opportunity with outstanding versatility and income potential. As an added opportunity, the sellers are willing to consider owner financing with a 50% down payment for qualified buyers.
Property Details
Property Type
Multi-Family
Year Built
1911
HOA
None
Listed Price
$468,500
Owner Financing Terms
Why Owner Financing?
- ✓ No bank qualifying
- ✓ Bad credit OK
- ✓ Fast closing
- ✓ Flexible terms
Free account - No credit card required
Frequently Asked Questions About Owner Financing in Albany
What is owner financing for 1 Loralee Drive?
Owner financing means the seller of 1 Loralee Drive acts as the lender. Instead of getting a mortgage from a bank, you make monthly payments directly to the property owner. This property in Albany, NY is available with owner financing terms.
Do I need good credit for owner financing?
No! One of the biggest advantages of owner financing is that you typically don't need to qualify through a bank. This makes it possible to buy a home even with bad credit, no credit history, or self-employment income that's hard to document.
How much is the down payment for this Albany home?
Down payment terms are negotiable. Sign up for free to get the specific financing details for this Albany property.