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    Albany Multifamily Property on Washington Avenue Title is generated by Realmo AI

    166 Washington Avenue, Albany, NY 12210

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    Claim this Listing
    Pending
    $599,900

    MULTI_FAMILY - Other - Albany, NY

    Property size:
    4,588 SF
    Lot size:
    0.05 Acres
    Added:
    Jan 9, 2026
    Days on Market:
    154
    Last Refresh:
    Jun 12 at 9:06 pm

    Property Features for 166 Washington Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Multi Residence
    Bedrooms
    6
    Bathrooms
    5
    Rooms
    Bathroom 2, Bathroom 6, Bedroom 1, Bathroom 4, Bedroom 5, Bedroom 6, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 1, Bathroom 5, Bedroom 2
    Parking
    10
    Interior features
    Crown Molding
    Basement
    Finished
    Standard status
    Pending
    APN
    010100 65.80-4-46.1
    Size
    4,588 SF
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Annual Amount
    13000

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Ductless (Heating)
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1859
    Number of units
    5
    Building materials
    Block, Brick
    Roof type
    Rubber, Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Jerome P Newkirk

    Listing agent Jerome P Newkirk License #10371200504

    Listing office Revision Real Estate 35 Broad St, Waterford, NY

    Listing date Jan 9, 2026

    MLS# 202610333 Listing URL

    Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 166 Washington Avenue building was built in 1859
    • Construction materials include block and brick
    • Heating includes baseboard and ductless (heating)
    • Cooling includes window unit(s)
    • Flat rubber roof
    • Public sewer; includes off‑street parking

    Overview

    Located in Albany, 166 Washington Avenue is a multifamily property suitable for investors or owner-occupants. The well-maintained building is situated in the heart of the city, near downtown, major employers, universities, and local attractions. The property offers flexibility, convenience, and long-term value. A rare find in this central location, the property includes off-street parking. Within one mile, residents have access to shopping centers, restaurants, coffee shops, parks, fitness facilities, grocery stores, and entertainment venues. The location also provides quick access to public transportation, major roadways, and Albany destinations such as Washington Park, the Empire State Plaza, and the Lark Street district. The property, situated on a 0.05-acre lot, offers a combination of space, accessibility, and investment potential. The property size is 4588 square feet. It offers comfort, convenience, and city living.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $90.8k $19.80
    − Vacancy −$5.6k −$1.23
    EGI $85.2k $18.57
    − OpEx −$38.3k −$8.36
    NOI $46.9k $10.21
    4,588 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $669.5K
    $585.8K – $781.1K (±1% cap)
    NOI $46,866 @ 7.0% cap · market cap 7.81%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.21M
    $1.06M – $1.41M (±1% cap)
    NOI $84,731 @ 7.0% cap · market cap 14.12%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.76204
    Latitude
    42.655549

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained Albany property near downtown, employers, and universities.
    Where is this apartment building located?
    The property is located at 166 Washington Avenue Albany, NY.
    What is the asking price?
    The asking price for this property is $599,900.
    What are key features of this property?
    This property features: 166 Washington Avenue building was built in 1859; Construction materials include block and brick; Heating includes baseboard and ductless (heating)
    (518) 229-0366
    We can help!
    Listing Contact
    Jerome P Newkirk
    Real Estate License ID: 10371200504
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