Updated 6-Unit Brick Apartment
For Sale
$825,000
190 S Allen Street, Albany, NY 12208
Fully updated six-unit brick building with six 2-bedroom units and separate utilities.
Property Size3,536 SF
Price / SF$233.31
Days on Market147
Property Features for 190 S Allen Street
General Information
Standard status
Active
Size
3,536 SF
Property subtype
Multi Family
Additional Details
Business Included
Yes
Multifamily Units
6
Building Details
Building Size
3,536 SF
Year Renovated
2022
Tenancy
Multi
Listing Agency:
Pyramidbrokerage
Listed By:
Pyramid Brokerage Albany
(518) 489-9199
Source:
Pyramidbrokerage
Added: May 14
Changed: Aug 8
Last Checked: Oct 7 at 8:42AM
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 Pyramidbrokerage
Investment Insights
Based on property information with market context.
This fully updated solid brick 6-unit apartment building features six 2-bedroom units, each with separate utilities and electric baseboard heat. The units have been remodeled throughout with new kitchens, bathrooms, paint, and updated floors. Recent improvements include a replaced roof and windows in 2022, new hot water heaters, and all new doors.
The property is conveniently located near several colleges and within walking distance to St Peter's Hospital.
With all units fully remodeled and major exterior and mechanical updates completed, the building is presented as a low-maintenance addition to a residential income portfolio.
The property is conveniently located near several colleges and within walking distance to St Peter's Hospital.
With all units fully remodeled and major exterior and mechanical updates completed, the building is presented as a low-maintenance addition to a residential income portfolio.
Key Highlights
- Fully updated solid brick 6‑unit building with six 2‑bedroom units.
- Each unit has separate utilities and electric baseboard heat.
- Renovations include new kitchens, bathrooms, paint, and updated floors throughout.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,120
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$722,400
$722.4K
Cap Rate 7%
$516,000
$516.0K
Cap Rate 9%
$401,333
$401.3K
Market Conditions
NOI Build-Up for 3,536 SF
Gross rent
$70.0K $19.80/SF
− Vacancy
−$4.3K −$1.23/SF
EGI
$65.7K $18.57/SF
− OpEx
−$29.6K −$8.36/SF
NOI
$36.1K $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%
$722,400
Cap Rate 7%
$516,000
Cap Rate 9%
$401,333
Alternative Uses
Best Use
Apartment 5plus
$516.0K
$451.5K – $602.0K
NOI $36,120 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$932.9K
$816.3K – $1.09M
NOI $65,303 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,181
Businesses Nearby
Explore this area
Business Placement
Demographics for 12208, NY
22,118
Population
11,522
Households
1.9
Avg Household Size
34
Median Age
56%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
5,027
Density / Sq Mi
$69,505
Median Household Income
$39,268
Median Earnings
$1,291
Median Rent
$255,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully updated six-unit brick building with six 2-bedroom units and separate utilities.
Where is this apartment building located?
The property is located at 190 S Allen Street Albany, NY.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Fully updated solid brick 6‑unit building with six 2‑bedroom units.; Each unit has separate utilities and electric baseboard heat.; Renovations include new kitchens, bathrooms, paint, and updated floors throughout.
