Updated Two-Family Residential
For Sale
$325,000
Pending
140 Grand Street, Albany, NY 12202
MULTI_FAMILY - Other - Albany, NY
Property Size2,880 SF
Lot Size0.05 Acres
Days on Market53
Property Features for 140 Grand Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 3
Interior features
Built-in Features, Ceramic Tile Bath, Crown Molding
Fencing
Fenced
Fireplace
1
Basement
Finished, Full, Apartment
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Madison Ave to Grand St
Standard status
Pending
APN
010100 76.57-2-53
Size
2,880 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6221
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1871
Number of units
2
Building materials
Brick
Roof type
Rubber
Architectural style
Other
Listing Agency:
Gucciardo Real Estate LLC
(518) 221-9079
Listed By:
Pavel Karakalchu · License #10401307281
(518) 728-6305
Added: Jun 9
Changed: Jul 24
Last Checked: Jul 31 at 3:06AM
MLS# 202619194
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 updated two-family residential property at 140 Grand Street includes two separate apartment units. The main unit features five bedrooms and two full bathrooms, with a fully repainted interior, a brand-new kitchen with new appliances, updated finishes, and cathedral ceilings. The lower level apartment offers one bedroom, one full bathroom, along with its own updated kitchen and living space. Recent system improvements include a newer high-efficiency boiler and a tankless hot water heater. The property also includes a private backyard.
The home is located in Albany, within walking distance to downtown. It is positioned close to restaurants, shopping, and entertainment, and with convenient access to major highways.
With the main unit currently vacant, the property can work well for an owner-occupant who wants the option to live in one unit while collecting rental income from the other. It also offers a straightforward setup for an investor seeking a two-unit configuration, with updates that include the kitchen improvements and newer heating and hot water equipment.
The home is located in Albany, within walking distance to downtown. It is positioned close to restaurants, shopping, and entertainment, and with convenient access to major highways.
With the main unit currently vacant, the property can work well for an owner-occupant who wants the option to live in one unit while collecting rental income from the other. It also offers a straightforward setup for an investor seeking a two-unit configuration, with updates that include the kitchen improvements and newer heating and hot water equipment.
Key Highlights
- Updated 2‑family brick property with public water and public sewer
- Main unit: 5 bedrooms, 2 full bathrooms, cathedral ceilings, fully repainted interior, and new kitchen with new appliances
- Lower‑level apartment: 1 bedroom, 1 full bathroom with its own updated kitchen and living space
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 | $57.0k | $19.80 |
| − Vacancy | −$3.5k | −$1.23 |
| EGI | $53.5k | $18.57 |
| − OpEx | −$24.1k | −$8.36 |
| NOI | $29.4k | $10.21 |
2,880 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$468.5K
$410.0K – $546.6K
NOI $32,798 @ 7.0% cap · market cap 10.09%
Second Best
Apartment 5plus
$420.3K
$367.7K – $490.3K
NOI $29,419 @ 7.0% cap · market cap 9.05%
Theoretical Best
Office A
$759.8K
$664.9K – $886.5K
NOI $53,188 @ 7.0% cap · market cap 16.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,231
Businesses Nearby
Explore this area
Business Placement
Demographics for 12202, NY
10,257
Population
5,434
Households
1.9
Avg Household Size
34
Median Age
33%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
5,129
Density / Sq Mi
$49,684
Median Household Income
$34,656
Median Earnings
$1,012
Median Rent
$139,800
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?
Duplex - Updated two-family home with a vacant main unit, private backyard, and recent heating and hot water improvements.
Where is this duplex located?
The property is located at 140 Grand Street Albany, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Updated 2‑family brick property with public water and public sewer; Main unit: 5 bedrooms, 2 full bathrooms, cathedral ceilings, fully repainted interior, and new kitchen with new appliances; Lower‑level apartment: 1 bedroom, 1 full bathroom with its own updated kitchen and living space
