7-Unit Apartment
For Sale
$649,900
156 S Swan Street, Albany, NY 12210
Historic multifamily property with updated mechanical systems, electrical panels, high ceilings, and original wood floors.
Property Size3,762 SF
Price / SF$172.75
Days on Market100
Property Features for 156 S Swan Street
General Information
Standard status
Active
Size
3,762 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
7
Building Details
Year Built
1885
Listing Agency:
McSharry and Associates Realty LLC
Listed By:
Patrick J McSharry
(518) 330-5599
Source:
Signatureonerealtygroup
Added: Jul 23
Changed: Oct 29
Last Checked: Oct 28 at 8:39AM
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 McSharry and Associates Realty LLC
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Investment Insights
Based on property information with market context.
Built in 1885, this Albany apartment property contains seven residential units with a mix of preserved architectural details and updated building systems. Interior features include high ceilings, original wood flooring, tiled bathrooms, and large windows. Mechanical components and electrical panels have been updated, while ROPs are in place for all apartments.
The property is located at 156 S Swan Street in Albany, NY 12210. Long-term tenants are in place, and month-to-month arrangements provide flexibility for future leasing administration. Current occupants have a history of maintaining steady tenancy, supporting the building’s established residential use.
The property is located at 156 S Swan Street in Albany, NY 12210. Long-term tenants are in place, and month-to-month arrangements provide flexibility for future leasing administration. Current occupants have a history of maintaining steady tenancy, supporting the building’s established residential use.
Key Highlights
- Seven residential apartments in a single multifamily property
- Built in 1885 at 156 S Swan Street, Albany, NY 12210
- Updated mechanical systems and electrical panels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,428
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$768,560
$768.6K
Cap Rate 7%
$548,971
$549.0K
Cap Rate 9%
$426,978
$427.0K
Market Conditions
NOI Build-Up for 3,762 SF
Gross rent
$74.5K $19.80/SF
− Vacancy
−$4.6K −$1.23/SF
EGI
$69.9K $18.57/SF
− OpEx
−$31.4K −$8.36/SF
NOI
$38.4K $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%
$768,560
Cap Rate 7%
$548,971
Cap Rate 9%
$426,978
Alternative Uses
Best Use
Apartment 5plus
$549.0K
$480.4K – $640.5K
NOI $38,428 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$992.5K
$868.5K – $1.16M
NOI $69,477 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
4,105
Businesses Nearby
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Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Historic multifamily property with updated mechanical systems, electrical panels, high ceilings, and original wood floors.
Where is this apartment building located?
The property is located at 156 S Swan Street Albany, NY.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Seven residential apartments in a single multifamily property; Built in 1885 at 156 S Swan Street, Albany, NY 12210; Updated mechanical systems and electrical panels
