5-Unit Brick Apartment
For Sale
$559,000
169 Elk St, Albany, NY 12210
Business Opportunity, Albany, NY
Property Size3,600 SF
Price / SF$155.28
Days on Market56
Property Features for 169 Elk St
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 3, Bathroom 5, Bathroom 2, Bathroom 1, Bathroom 4
High school district
ALBANY CITY SCHOOL DISTRICT
Standard status
Active
APN
000000-065.000-0004-006.000
Size
3,600 SF
Taxes and HOA fees
Tax Annual Amount
4097
Utilities
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1950
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Statewide Properties LLC
(347) 560-4024
Listed By:
Vitaly Isaacs · License #10401300688
Added: Sep 5
Changed: Oct 23
Last Checked: Oct 30 at 2:06AM
MLS# 11968354
Copyright © 2026 My State MLS. 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 3,600-square-foot, five-unit apartment building was constructed in 1950 with brick exterior walls. Interior finishes include hardwood and tile flooring, and the property has replacement windows throughout. Heating and hot water are supplied by a natural-gas boiler and a separate water heater.
All five apartments are occupied, with individual gas and electric metering; the owner covers heat and hot water. Certificates of occupancy are current through 10/2027. The building is located on Elk Street in Albany, one block from Center Square and behind the public library on Washington Avenue.
All five apartments are occupied, with individual gas and electric metering; the owner covers heat and hot water. Certificates of occupancy are current through 10/2027. The building is located on Elk Street in Albany, one block from Center Square and behind the public library on Washington Avenue.
Key Highlights
- Five occupied apartments
- 3,600 square feet; built in 1950
- Brick construction with replacement windows throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,773
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,460
$735.5K
Cap Rate 7%
$525,329
$525.3K
Cap Rate 9%
$408,589
$408.6K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$71.3K $19.80/SF
− Vacancy
−$4.4K −$1.23/SF
EGI
$66.9K $18.57/SF
− OpEx
−$30.1K −$8.36/SF
NOI
$36.8K $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%
$735,460
Cap Rate 7%
$525,329
Cap Rate 9%
$408,589
Alternative Uses
Best Use
Apartment 5plus
$525.3K
$459.7K – $612.9K
NOI $36,773 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$949.8K
$831.1K – $1.11M
NOI $66,485 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,039
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Separate gas and electric meters serve each residence, while the owner provides heat and hot water.
Where is this apartment building located?
The property is located at 169 Elk St Albany, NY.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Five occupied apartments; 3,600 square feet; built in 1950; Brick construction with replacement windows throughout
