Fully Occupied 7-Unit Apartment
New
For Sale
$399,900
13904 Broadway, Alden, NY 14004
Brick 7-unit multifamily property on about 1.7 acres with newer metal roof, updated mechanicals, and coin-operated laundry.
Lot Size1.70 Acres
Days on Market4
Property Features for 13904 Broadway
General Information
Standard status
Active
Lot size
1.70 Acres
Property subtype
Investment
Occupancy
100%
Additional Details
Utilities to Site
Yes
Multifamily Units
7
Amenities
coin-operated washer and dryer
Building Details
Building Size
3,779 SF
Year Built
1940
Buildings
1
Construction
brick
Listing Agency:
(716) 913-7199
Listed By:
Cristin Bishop
(716) 913-7199
Source:
Elliman
Added: Jul 28
Changed: Jul 29
Last Checked: Jul 30 at 6:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cristin Bishop
Investment Insights
Based on property information with market context.
This fully occupied 7-unit brick apartment building offers a stabilized residential income setup. The property includes a slab foundation, a newer metal roof, and updated mechanicals. Each unit is served by its own electric panel, with natural gas supplied through Alden Reserve and electric service through NYSEG. On-site amenities include a coin-operated washer and dryer for resident use, providing an additional income stream for the owner.
The well water supply is serviced by a well located along the side of the driveway, and the septic system is positioned behind the parking lot. The site spans approximately 1.7 acres, providing room for future expansion or additional development subject to municipal approvals.
Overall, the building is positioned for long-term income with an existing unit configuration and infrastructure in place, while the acreage offers flexibility for future increases in apartment count or development (subject to approval).
The well water supply is serviced by a well located along the side of the driveway, and the septic system is positioned behind the parking lot. The site spans approximately 1.7 acres, providing room for future expansion or additional development subject to municipal approvals.
Overall, the building is positioned for long-term income with an existing unit configuration and infrastructure in place, while the acreage offers flexibility for future increases in apartment count or development (subject to approval).
Key Highlights
- Brick 7‑unit multifamily building on approximately 1.7 acres in the Town of Alden near the village
- Newer metal roof and updated mechanicals
- Natural gas service through Alden Reserve and electric service through NYSEG, with individual electric panels for each unit
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 | $61.2k | $16.20 |
| − Vacancy | −$21.5k | −$5.70 |
| EGI | $39.7k | $10.50 |
| − OpEx | −$17.9k | −$4.72 |
| NOI | $21.8k | $5.77 |
3,779 SF · lease $16.20/SF/yr · vacancy 35.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$311.7K
$272.7K – $363.7K
NOI $21,819 @ 7.0% cap · market cap 5.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$826.1K
$722.9K – $963.8K
NOI $57,828 @ 7.0% cap · market cap 14.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 14004, NY
11,583
Population
4,386
Households
2.6
Avg Household Size
47
Median Age
22%
College-Educated
91%
High-School Grad
48.6 sq mi
ZIP Area
238
Density / Sq Mi
$88,011
Median Household Income
$51,981
Median Earnings
$754
Median Rent
$236,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick 7-unit multifamily property on about 1.7 acres with newer metal roof, updated mechanicals, and coin-operated laundry.
Where is this apartment building located?
The property is located at 13904 Broadway Alden, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Brick 7‑unit multifamily building on approximately 1.7 acres in the Town of Alden near the village; Newer metal roof and updated mechanicals; Natural gas service through Alden Reserve and electric service through NYSEG, with individual electric panels for each unit
