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    Well-Maintained Multifamily Property For Sale Title is generated by Realmo AI

    950 Washington Avenue, Albany, NY 12203

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    Pending
    $829,900

    MULTI_FAMILY - Other - Albany, NY

    Property size:
    6,360 SF
    Lot size:
    0.20 Acres
    Added:
    Nov 13, 2025
    Days on Market:
    186
    Last Refresh:
    May 18 at 10:06 pm

    Property Features for 950 Washington Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Multi Residence
    Bedrooms
    12
    Bathrooms
    6
    Rooms
    Bedroom 8, Bathroom 5, Bedroom 3, Bedroom 5, Bedroom 11, Bedroom 10, Bedroom 6, Bathroom 2, Bedroom 7, Bedroom 12, Bedroom 1, Bedroom 4, Bedroom 9, Bathroom 1, Bathroom 6, Bedroom 2, Bathroom 3, Bathroom 4
    Parking
    6
    Parking features
    Driveway, Garage
    Security features
    Security Lighting
    Patio and Porch features
    Porch
    Interior features
    Paddle Fan, Ceramic Tile Bath
    Basement
    Apartment
    Standard status
    Pending
    APN
    010100 64.35-2-22
    Size
    6,360 SF
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Annual Amount
    14355

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating), Natural Gas
    Water source
    Public

    Building Details

    Year built
    1950
    Number of units
    6
    Flooring type
    Wood, Tile - Ceramic, Hardwood, Vinyl
    Building materials
    Brick
    Roof type
    Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Terry Weinman

    Listing agent Terry Weinman License #30WE0768353

    Listing office Coldwell Banker Prime Properties 1345 New Scotland Road, Green Island, NY

    Listing date Nov 13, 2025

    MLS# 202529600 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

    • Well‑maintained 6‑unit building with updates
    • Prime location: minutes to hospitals, shopping, Harriman Campus, and Nano Tech
    • Includes a 4‑car garage and additional parking
    • Roof replaced in 2020
    • Upper units feature comfortable back porches
    • Rents include heat and hot water

    Overview

    This well-maintained six-unit multifamily property, family built and owned, features updates throughout its life. Located minutes from hospitals, shopping, Harriman Campus, and Nano Tech. The apartments include generously sized rooms, multiple closets, hardwood floors on the upper levels, and appliances. Lower-level units have waterproof flooring. The upper four units all have back porches. A four-car garage is located in the rear of the building, along with additional parking. The driveway has been recently repaved. All rents include heat and hot water; tenants pay for electric and cable. The roof was replaced in 2020, and most of the windows have been replaced. The property has a lot size of 0.2 acres and a building size of 6360 square feet. The property must be sold as a package with 948 Washington Ave. The zoning is Multi Residence.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.792165
    Latitude
    42.673095

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    FAQs

    What type of property is this?
    Apartment building - Updated six-unit building near hospitals, shopping, and Harriman Campus.
    Where is this apartment building located?
    The property is located at 950 Washington Avenue Albany, NY.
    What is the asking price?
    The asking price for this property is $829,900.
    What are key features of this property?
    This property features: Well‑maintained 6‑unit building with updates; Prime location: minutes to hospitals, shopping, Harriman Campus, and Nano Tech; Includes a 4‑car garage and additional parking
    (518) 366-1875
    We can help!
    Listing Contact
    Terry Weinman
    Real Estate License ID: 30WE0768353
    Learn More
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    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
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