Back to Search

Albany Two-Family Residential Property

515 Hamilton Street Albany, NY 12203

515 Hamilton Street, Albany, NY, 12203

$349,900

Pending

For Sale

$349,900

Pending

MULTI_FAMILY - Other - Albany, NY

Property Size2,200 SF

Lot Size0.06 Acres

AddedFeb 23

Days on Market142

Last RefreshJul 15 at 6:06 am

Property Features for 515 Hamilton Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 6
Bathrooms: 2
Rooms: Bedroom 3, Bedroom 5, Bathroom 2, Bedroom 6, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 2
Basement: Full
Standard status: Pending
APN: 010100 65.61-3-62
Size: 2,200 SF
Lot size: 0.06 Acres

Taxes and HOA fees

Tax Annual Amount: 4627

Utilities

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

Building Details

Year built: 1920
Number of units: 2
Flooring type: Hardwood, Tile, Vinyl
Building materials: Wood Siding
Roof type: Rolled Hot Mop, Flat
Architectural style: Other

Listing agent Jonathan Lanahan License #10401298349

Listing office RE/MAX Solutions 112 N Greenbush Rd Suite C, Clifton Park, NY

Listing date Feb 23, 2026

MLS# 202612365 Listing URL

Investment Insights

Based on property information with market context.

This two-family residential property in Albany, NY, features a history of rental income. The property has undergone multiple updates, which facilitates renting. Both floors are currently rented for $1,800, with leases expiring in May and June. The first-floor tenant has expressed interest in renewing for another year. The lot size is 0.06 acres, and the property size is 2,200 square feet.

Key Highlights

Great rental history and ROI.
Currently rented for $1,800 with leases ending May/June.
Updated throughout.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$38.3k	$17.40
− Vacancy	−$2.5k	−$1.13
EGI	$35.8k	$16.27
− OpEx	−$10.7k	−$4.88
NOI	$25.1k	$11.39

2,200 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$357.9K

$313.2K – $417.6K (±1% cap)

NOI $25,054 @ 7.0% cap · market cap 7.16%

Second Best

Apartment 5plus

$321.0K

$280.9K – $374.6K (±1% cap)

NOI $22,473 @ 7.0% cap · market cap 6.42%

Theoretical Best

Office A

$580.4K

$507.9K – $677.2K (±1% cap)

NOI $40,630 @ 7.0% cap · market cap 11.61%

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

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Similar For Sale Nearby

$300,000

3,376 SF

Office Building for Adaptive Use

Office-configured property totaling 3,376 square feet on a 0.26-acre lot with potential for multifamily conversion.

519 Clinton Avenue, Albany, NY 12206

View Details
$1,700,000

5,400 SF

Iconic Albany Restaurant and Pub

A legacy business in Albany's vibrant entertainment district.

4 Clinton Square, Albany, NY 12207

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
$1,500,000

16,420 SF

Automotive Service Business for Sale

Established heavy-duty truck suspension business offered with FF&E and inventory, alongside potential real estate options.

368 Central Avenue, Albany, NY 12206

View Details
$2,450,000

16,420 SF

Automotive Service and Workshop

For-sale package combining real estate with an established heavy-duty truck suspension service business.

368 Central Avenue, Albany, NY 12206

View Details
$498,000

4,800 SF

Light-Industrial Warehouse with Office

High-clearance warehouse with mezzanine and three overhead doors plus dedicated, fully conditioned office and administrative space.

1 Apollo Drive, Albany, NY 12205

View Details
$180,000

5,220 SF

Auto Body Repair with Garage Rentals

Established auto body repair shop plus separate office and multiple garage/storage rental units in Albany, NY.

467 Jay Street, Albany, NY 12203

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
$429,900

4,984 SF

Flexible Office Building with Gated Parking

Gated, asphalt-paved parking and an office-ready layout with multiple private rooms, reception, and conference space.

854 Madison Avenue, Albany, NY 12208

View Details
$449,900

3,300 SF

Mixed-Use Property in Center Square

Mixed-use property with commercial space and residential apartments in Albany.

418 Madison Avenue, Albany, NY 12210

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
$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