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    373 Hudson Ave Albany, NY 12210

    Sponsored
    For Sale
    $675,000

    MULTI_FAMILY - Other - Albany, NY

    Property size:
    3,564 SF
    Lot size:
    0.07 Acres
    Days on Market:
    5
    Last Refresh:
    Jan 14 at 12:06 pm

    Property Features for 373 Hudson Ave

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Rooms
    Bedroom 2, Bedroom 4, Bedroom 6, Bedroom 1, Bathroom 2, Bathroom 6, Bathroom 3, Bedroom 5, Bathroom 1, Bathroom 4, Bedroom 3, Bathroom 5
    Bedrooms
    6
    Bathrooms
    6
    APN
    010100 76.23-3-21
    Exterior features
    Garden
    Basement
    Full, Unfinished
    Size
    3,564 SF
    Lot size
    0.07 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Steam, Baseboard, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1880
    Number of units
    6
    Building materials
    Brick
    Architectural style
    Other

    518 Realty.com Inc. (518) 456-6518 [email protected]

    Listing agent Christine L Sbardella (518) 369-4856 License #40ST1037690

    Listing date Jan 10, 2026

    MLS# 202610309 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.

    Overview

    Albany Multifamily Investment Opportunity

    This all-brick multifamily property is situated in a desirable area of Albany, located between Lark Street and Washington Park. The building features new flooring in many units, new luxury vinyl flooring in the hallways, and freshly painted hallways and some apartments. On-street parking is available, along with a large backyard. An exterior maintenance person is available to continue providing snow and lawn care. The property is within walking distance of the Capital Building, Albany Med, Lark Street entertainment, and restaurants. The building has a newer rubber roof and yearly maintained and inspected heating systems. Heat and hot water are included in the rents. Tenants are responsible for their electric and cooking gas. The property offers a potential value-add with separate basement storage for extra income. The property can also be sold as a package with two other identical buildings for a total of 3 buildings and 18 units. The buildings are identical and set up as true apartment buildings. Some units are furnished, and furnishings can be negotiable in the sale. The property size is 3,564 square feet and the lot size is 0.07 acres. The right of first purchase is active until 4/24/2026.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.766741
    Latitude
    42.654407

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    FAQs

    What type of property is this?
    Apartment building - Rare all-brick multifamily property near Lark Street and Washington Park.
    Where is this apartment building located?
    The property is located at 373 Hudson Ave Albany, NY.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: - Rare all-brick building in a desirable location near Lark St. and Washington Park.; - Potential for increased income: basement storage and rents can be increased to $1,250 per unit.; - Newer rubber roof and maintained heating systems; heat/hot water included in rents.
    (518) 369-4856
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    373 Hudson Ave Albany, NY 12210
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    Albany, NY 12210
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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.

    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
    373 Hudson Ave Albany, NY 12210
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