1235 First Ave, Schenectady, NY - Two Income-Producing Homes + Four Garages + Vacant Lot Outstanding investment opportunity offering multiple income streams on one parcel, with an adjacent vacant lot (Tax ID 421500 49.38-2-10) included in the sale. The front structure is a traditional-style building with three levels of living space, providing flexible rental configurations. A detached 1.5-story cottage at the rear of the property includes 2 bedrooms and 1 bath, ideal for an additional rental unit or long-term tenant. The property also includes four garages that can generate supplemental rental income. All utilities are individually metered, minimizing owner expenses. Shared basement laundry area offers two washers and two dryers for tenant use. The owner currently covers water, sewer, grounds maintenance, and trash removal. With separate meters and steady rental demand in the area, this property is positioned for a potential return of 10% or higher. Investment Highlights: • Two detached income-producing dwellings on one lot • Four garages for additional rent potential • Separate gas/electric meters for each unit • Shared laundry (2 washers / 2 dryers) • Owner pays water, sewer, trash, and grounds • Includes adjacent vacant lot (Tax ID 421500 49.38-2-10) • Strong rental market and consistent occupancy area • Estimated RoR: 10%+ potential Rare to find this combination of multiple structures, parking, and an extra parcel—all in a convenient Schenectady location close to major routes, shopping, and employment centers.
