Value-Add
The Ridgefield by Communio
695 Park Ave, Albany, NY 12208Albany
City
Pine Hills
Neighborhood
17
Units
1 & 2 BR
Floor Plans
About This Property
A 17-unit building located in the highly desirable Pine Hills section of Albany, NY, directly across the street from Ridgefield Park. The building was acquired through a portfolio transaction with Royal Court, providing strong occupancy and immediate cash flow while Parkside repositioned Royal Court. The property continues to generate stable cash flow today while we execute our value-add strategy.
Capital Improvements Completed & In Progress
- Renovating apartments as they become vacant to instill the Communio Standard
- Upgrading laundry room from coin-operated machines to app-based system (in progress)
- Installing virtual intercom system for tenant security (in progress)
The property is well-suited for our strategy of providing stable cash flow while seeing strong upside over time through strategic improvements.
Photo Gallery
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