4-Unit Quadplex with
108 Southern Boulevard, Albany, NY 12209
For Sale
$599,000
MultiFamily, Albany, NY
Property Size4,890 SF
Lot Size0.08 Acres
Price / SF$122.49
Days on Market50
Property Features for 108 Southern Boulevard
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Basement
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
Heating system
Water source
Amenities
in-unit laundry
Building Details
Year built
Number of units
Building materials
Architectural style
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Thaddeus Jones · License NY #10301220962
(518) 681-1836
Added: Sep 22
Changed: Nov 1
Last Checked: Nov 10 at 3:06AM
MLS# 202626942
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.
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Investment Insights
Based on property information with market context.
This 4,890-square-foot quadplex contains four apartments, each configured with three bedrooms and one bathroom. Laundry is located within each unit, and the interiors feature modern finishes. The building was constructed in 1920 and has vinyl siding, natural gas forced-air heating, public water, and public sewer service.
The property occupies a 0.08-acre lot in Albany. Two apartments are occupied under month-to-month leases, while one is vacant; the fourth tenant is expected to leave by the end of October.
The property occupies a 0.08-acre lot in Albany. Two apartments are occupied under month-to-month leases, while one is vacant; the fourth tenant is expected to leave by the end of October.
Key Highlights
- Four apartments, each with three bedrooms and one bathroom
- 4,890 square feet of building area
- Laundry within each unit and modern finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,950
Cap Rate
8.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$999,000
$999.0K
Cap Rate 7%
$713,571
$713.6K
Cap Rate 9%
$555,000
$555.0K
Market Conditions
NOI Build-Up for 4,890 SF
Gross rent
$96.8K $19.80/SF
− Vacancy
−$6.0K −$1.23/SF
EGI
$90.8K $18.57/SF
− OpEx
−$40.9K −$8.36/SF
NOI
$50.0K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$999,000
Cap Rate 7%
$713,571
Cap Rate 9%
$555,000
Alternative Uses
Best Use
Multifamily LT 5
$795.6K
$696.1K – $928.2K
NOI $55,689 @ 7.0% cap · market cap 9.30%
Second Best
Apartment 5plus
$713.6K
$624.4K – $832.5K
NOI $49,950 @ 7.0% cap · market cap 8.34%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,309 @ 7.0% cap · market cap 15.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
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Business Placement
Demographics for 12209, NY
10,231
Population
4,768
Households
2.1
Avg Household Size
37
Median Age
46%
College-Educated
88%
High-School Grad
2.2 sq mi
ZIP Area
4,650
Density / Sq Mi
$81,642
Median Household Income
$51,848
Median Earnings
$1,165
Median Rent
$200,800
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Albany, NY
Properties on Market for Quadplexes in Albany
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Each apartment offers three bedrooms, one bath, and laundry inside the unit.
Where is this quadplex located?
The property is located at 108 Southern Boulevard Albany, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Four apartments, each with three bedrooms and one bathroom; 4,890 square feet of building area; Laundry within each unit and modern finishes
