Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Albany Four-Unit Investment Property Title is generated by Realmo AI

    272 Morton Avenue, Albany, NY 12209

    View on Map
    Claim this Listing
    For Sale
    $575,000

    MULTI_FAMILY - Albany, NY

    Property size:
    3,630 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $158/SF
    Added:
    Apr 28, 2026
    Days on Market:
    24
    Last Refresh:
    May 21 at 7:06 pm

    Property Features for 272 Morton Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    7
    Bathrooms
    4
    Rooms
    Bathroom 4, Bathroom 3, Bedroom 7, Bedroom 6, Laundry Room, Bathroom 1, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1
    Parking
    3
    Parking features
    Garage
    Patio and Porch features
    Porch
    Interior features
    Solid Surface Counters, High Speed Internet, Ceramic Tile Bath, Crown Molding
    Basement
    Full
    Standard status
    Active
    APN
    010100 76.47-2-10
    Size
    3,630 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Annual Amount
    9041

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating), Natural Gas, Baseboard
    Water source
    Public

    Building Details

    Year built
    1920
    Number of units
    4
    Flooring type
    Tile - Ceramic, Vinyl, Hardwood, Linoleum
    Building materials
    Aluminum Siding
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Melissa W Woodcock
    Melissa W Woodcock

    Listing agent Melissa W Woodcock License #10491205899

    Listing office Staged Nest Real Estate LLC 578 New Loudon Rd, Latham, NY

    Listing date Apr 28, 2026

    MLS# 202615912 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

    • Strong rental income potential as a 4‑unit investment property.
    • Three updated units featuring desirable granite kitchens.
    • Recent upgrades include 3 high‑efficiency natural gas condensing boilers, newer roof, gutters, sidewalk, and hot water tanks.
    • 3‑car detached garage for storage or additional rental income.
    • Tenant convenience with 2 coin‑operated washers and dryers.
    • Located across from Lincoln Park.

    Overview

    This well-maintained four-unit investment property is located on Morton Avenue. The building offers rental potential paired with property upgrades. Recent improvements include three high-efficiency natural gas condensing boilers, two coin-operated washers and dryers, a newer roof, gutters, sidewalk, and hot water tanks. Three units feature updated kitchens with granite. The property also includes a three-car detached garage, offering additional storage or rental income potential. The property is across from Lincoln Park. The lot size is 0.09 acres, and the property size is 3630 square feet.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $459.3K
    NOI $41,340 @ 9.00% cap · cautious / downside scenario
    Moderate
    $590.6K
    NOI $41,340 @ 7.00% cap · market / base-case scenario
    Aggressive
    $826.8K
    NOI $41,340 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $63.2k $17.40
    − Vacancy −$4.1k −$1.13
    EGI $59.1k $16.27
    − OpEx −$17.7k −$4.88
    NOI $41.3k $11.39
    3,630 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $590.6K
    $516.8K – $689.0K (±1% cap)
    NOI $41,340 @ 7.0% cap · market cap 7.19%
    Second Best
    Apartment 5plus
    $529.7K
    $463.5K – $618.0K (±1% cap)
    NOI $37,080 @ 7.0% cap · market cap 6.45%
    Theoretical Best
    Office A
    $957.7K
    $838.0K – $1.12M (±1% cap)
    NOI $67,039 @ 7.0% cap · market cap 11.66%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm 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
    -73.770438
    Latitude
    42.644917

    Nearby Similar for Sale

    • $429,900
      4,984 SF

      Versatile Commercial Space in Albany

      Expansive Albany property with flexible layout and gated parking.
      854 Madison Avenue, Albany, NY 12208
      View Details
    • $149,999
      6,384 SF

      Established Delicatessen Business For Sale

      Turn-key delicatessen business with equipment and high traffic exposure.
      718 Central Avenue, Albany, NY 12206
      View Details
    • $449,000
      2,824 SF

      Albany Office with Parking

      Well-maintained office property in Albany's Lark Street district.
      255 Lark Street, Albany, NY 12210
      View Details
    • $799,000
      7,728 SF

      Albany Flex Industrial Building

      7728 SF flex industrial building for contractors or distribution.
      334 Ontario Street, Albany, NY 12208
      View Details
    • $995,000
      13,200 SF

      Historic Church and Parish Hall

      Historic Albany church and hall, ideal for gatherings and events.
      820 Madison Avenue, Albany, NY 12208
      View Details
    • $399,900
      4,221 SF

      Albany Commercial Space For Sale

      4200+ sqft retail/warehouse space in Albany's revitalizing warehouse district.
      1306 Broadway, Albany, NY 12204
      View Details
    • $60,000
      13,894 SF

      Bubble Tea Shop Opportunity

      Fully operational bubble tea shop with loyal customer base.
      260 Osborne Road, Albany, NY 12211
      View Details
    • $999,000
      43,520 SF

      Versatile Commercial Property on Central Avenue

      Remarkable 43,520 sq ft commercial property with diverse spaces.
      233 Central Avenue, Albany, NY 12206
      View Details
    • $529,900
      3,680 SF

      Turnkey Albany Investment Opportunity

      Three-unit property with income potential and owner-occupant options.
      64 Elm Street, Albany, NY 12203
      View Details
    • $950,000
      16,420 SF

      Albany Commercial Property For Sale

      Commercial property for sale in Albany, NY, with business opportunity.
      368 Central Avenue, Albany, NY 12206
      View Details
    • $1,500,000
      16,420 SF

      Established Truck Suspension Business For Sale

      Established truck suspension business with real estate or lease options.
      368 Central Avenue, Albany, NY 12206
      View Details
    • $2,450,000
      16,420 SF

      Established Albany Business For Sale

      Established business with real estate, FF&E, and inventory included.
      368 Central Avenue, Albany, NY 12206
      View Details

    FAQs

    What type of property is this?
    Quadplex - Well-maintained four-unit property with recent upgrades and income potential.
    Where is this quadplex located?
    The property is located at 272 Morton Avenue Albany, NY.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: Strong rental income potential as a 4‑unit investment property.; Three updated units featuring desirable granite kitchens.; Recent upgrades include 3 high‑efficiency natural gas condensing boilers, newer roof, gutters, sidewalk, and hot water tanks.
    (518) 369-8441
    We can help!
    Listing Contact
    Melissa W Woodcock
    Melissa W Woodcock
    Real Estate License ID: 10491205899
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    272 Morton Avenue, Albany, NY 12209
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!