Albany Multifamily Property on Washington
166 Washington Avenue, Albany, NY 12210
- Added:
- Jan 9, 2026
- Days on Market:
- 132
- Last Refresh:
- May 21 at 9:06 pm
Property Features for 166 Washington Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Multi Residence
- Bedrooms
- 6
- Bathrooms
- 5
- Rooms
- Bathroom 6, Bedroom 5, Bathroom 1, Bedroom 4, Bathroom 5, Bedroom 2, Bathroom 2, Bedroom 6, Bathroom 3, Bedroom 1, Bathroom 4, Bedroom 3
- Parking
- 10
- Interior features
- Crown Molding
- Basement
- Finished
- Standard status
- Pending
- APN
- 010100 65.80-4-46.1
- Size
- 4,588 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 13000
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard, Ductless (Heating)
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1859
- Number of units
- 5
- Building materials
- Block, Brick
- Roof type
- Flat, Rubber
- Architectural style
- Other
Listing agent Jerome P Newkirk License #10371200504 (518) 229-0366
Listing office Revision Real Estate 35 Broad St, Waterford, NY (518) 438-2221
Listing date Jan 9, 2026
MLS# 202610333
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.
HighLights
- Prime location in the heart of Albany, close to downtown, major employers, universities, and local attractions.
- Exceptional potential for both investors and owner‑occupants, offering flexibility and long‑term value.
- Rare off‑street parking in a central location.
- Wealth of amenities within one mile: shopping, restaurants, parks, fitness, and entertainment.
- Quick access to public transportation, major roadways, and popular Albany destinations.
- Combination of block and brick construction with interior crown molding.
Overview
Located in Albany, 166 Washington Avenue is a multifamily property suitable for investors or owner-occupants. The well-maintained building is situated in the heart of the city, near downtown, major employers, universities, and local attractions. The property offers flexibility, convenience, and long-term value. A rare find in this central location, the property includes off-street parking. Within one mile, residents have access to shopping centers, restaurants, coffee shops, parks, fitness facilities, grocery stores, and entertainment venues. The location also provides quick access to public transportation, major roadways, and Albany destinations such as Washington Park, the Empire State Plaza, and the Lark Street district. The property, situated on a 0.05-acre lot, offers a combination of space, accessibility, and investment potential. The property size is 4588 square feet. It offers comfort, convenience, and city living.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$520.7K
NOI $46,866 @ 9.00% cap · cautious / downside scenario
Moderate
$669.5K
NOI $46,866 @ 7.00% cap · market / base-case scenario
Aggressive
$937.3K
NOI $46,866 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.8k | $19.80 |
| − Vacancy | −$5.6k | −$1.23 |
| EGI | $85.2k | $18.57 |
| − OpEx | −$38.3k | −$8.36 |
| NOI | $46.9k | $10.21 |
4,588 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$669.5K
$585.8K – $781.1K
NOI $46,866 @ 7.0% cap · market cap 7.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,731 @ 7.0% cap · market cap 14.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Albany
- State
- New York
- Longitude
- -73.76204
- Latitude
- 42.655549
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-maintained Albany property near downtown, employers, and universities.
Where is this apartment building located?
The property is located at 166 Washington Avenue Albany, NY.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Prime location in the heart of Albany, close to downtown, major employers, universities, and local attractions.; Exceptional potential for both investors and owner‑occupants, offering flexibility and long‑term value.; Rare off‑street parking in a central location.
