Albany Three-Unit Investment
For Sale
$234,900
Pending
808B Madison Avenue, Albany, NY 12208
MULTI_FAMILY - Other - Albany, NY
Property Size2,060 SF
Lot Size0.10 Acres
Days on Market163
Property Features for 808B Madison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1
Patio and Porch features
Deck, Porch
Basement
Unfinished, Full
Lot features
Level, Cleared
View
City
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Quail Street right on Madison Ave, property 600 ft on the left side.
Special listing conditions
Short Sale
Standard status
Pending
APN
010100 65.69-2-71
Size
2,060 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
6104
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1950
Number of units
3
Building materials
Aluminum Siding, Block, Plaster
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
Venture Fox Realty Group LLC
(518) 290-1070
Listed By:
Hany Y Ayoub · License #30AY0937221
(518) 429-6966
Added: Feb 18
Changed: Jul 24
Last Checked: Jul 31 at 6:06AM
MLS# 202612177
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.
Investment Insights
Based on property information with market context.
This three-unit multifamily property in Albany, NY, presents an investment opportunity with established tenancy. The property includes one one-bedroom unit and two studio units. The one-bedroom unit rents for $1350, and the studio units rent for $980 and $950, respectively. The owner is responsible for covering all utilities. Two of the units are paid by a third party, with an annual rent increase of 7.7% scheduled each September. The property offers strong income potential. The building has a size of 2060 square feet and is situated on a 0.1-acre lot.
Key Highlights
- Three‑unit investment property with one 1‑bedroom unit ($1,350) and two studio units ($980 and $950)
- Owner pays all utilities; two units are paid by a 3rd party with annual rent increases of 7.7% each September
- Heating: natural gas with hot water heat
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 | $40.8k | $19.80 |
| − Vacancy | −$2.5k | −$1.23 |
| EGI | $38.3k | $18.57 |
| − OpEx | −$17.2k | −$8.36 |
| NOI | $21.0k | $10.21 |
2,060 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$335.1K
$293.3K – $391.0K
NOI $23,460 @ 7.0% cap · market cap 9.99%
Second Best
Apartment 5plus
$300.6K
$263.0K – $350.7K
NOI $21,043 @ 7.0% cap · market cap 8.96%
Theoretical Best
Office A
$543.5K
$475.6K – $634.1K
NOI $38,044 @ 7.0% cap · market cap 16.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,003
Businesses Nearby
Explore this area
Business Placement
Demographics for 12208, NY
22,118
Population
11,522
Households
1.9
Avg Household Size
34
Median Age
56%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
5,027
Density / Sq Mi
$69,505
Median Household Income
$39,268
Median Earnings
$1,291
Median Rent
$255,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with strong income potential and established tenancy.
Where is this triplex located?
The property is located at 808B Madison Avenue Albany, NY.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: Three‑unit investment property with one 1‑bedroom unit ($1,350) and two studio units ($980 and $950); Owner pays all utilities; two units are paid by a 3rd party with annual rent increases of 7.7% each September; Heating: natural gas with hot water heat
