Brick Two-Unit
New
For Sale
$339,900
212 Myrtle Avenue, Albany, NY 12202
Separate utilities and four-car driveway parking serve a vacant unit and a unit with an assumed lease.
Property Size2,428 SF
Price / SF$139.99
Days on Market7
Property Features for 212 Myrtle Avenue
General Information
Standard status
Active
Size
2,428 SF
Property subtype
Multi-family
Building Details
Year Built
1900
Listing Agency:
Gallup Property Group LLC
Listed By:
Ryan Gallup · License #32565
(518) 618-5736
Source:
Signatureonerealtygroup
Added: Oct 29
Changed: Nov 3
Last Checked: Nov 4 at 5:16PM
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 Gallup Property Group LLC
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Investment Insights
Based on property information with market context.
Built in 1900, this brick duplex contains two 6-room apartments totaling 2,428 sq ft above grade. Each has 4 bedrooms and a rear porch; the first-floor unit has 2 baths, while the second-floor unit has 1. Hardwood, carpet, and tile are used throughout. An unfinished attic and full basement each include a bedroom and bath. The property has a slate roof, separate gas hot-water systems and water heaters for the apartments, 200-amp circuit breaker service, and individual gas and electric meters. Public water and sewer serve the building. Two stoves, two refrigerators, and two basement washer-and-dryer sets are included, with driveway parking for 4 cars.
The property is at 212 Myrtle Avenue in Albany, within the City School District of Albany. Washington Park, Lark Street shops and restaurants, and downtown Albany are a short walk away. One apartment is leased on a 1-year term that transfers to the buyer; the other is vacant. The unfinished upper and lower spaces may offer a path to as many as 4 units, subject to buyer verification of approvals. Sale is as-is.
The property is at 212 Myrtle Avenue in Albany, within the City School District of Albany. Washington Park, Lark Street shops and restaurants, and downtown Albany are a short walk away. One apartment is leased on a 1-year term that transfers to the buyer; the other is vacant. The unfinished upper and lower spaces may offer a path to as many as 4 units, subject to buyer verification of approvals. Sale is as-is.
Key Highlights
- Two 6‑room apartments, each with 4 bedrooms
- 2,428 sq ft above grade; built in 1900
- First‑floor unit has 2 baths; second‑floor unit has 1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,651
Cap Rate
8.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$553,020
$553.0K
Cap Rate 7%
$395,014
$395.0K
Cap Rate 9%
$307,233
$307.2K
Market Conditions
NOI Build-Up for 2,428 SF
Gross rent
$42.2K $17.40/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$39.5K $16.27/SF
− OpEx
−$11.9K −$4.88/SF
NOI
$27.7K $11.39/SF
Area
Albany, NY
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$553,020
Cap Rate 7%
$395,014
Cap Rate 9%
$307,233
Alternative Uses
Best Use
Multifamily LT 5
$395.0K
$345.6K – $460.9K
NOI $27,651 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$354.3K
$310.0K – $413.4K
NOI $24,802 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$640.6K
$560.5K – $747.3K
NOI $44,840 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
3,640
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities and four-car driveway parking serve a vacant unit and a unit with an assumed lease.
Where is this duplex located?
The property is located at 212 Myrtle Avenue Albany, NY.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Two 6‑room apartments, each with 4 bedrooms; 2,428 sq ft above grade; built in 1900; First‑floor unit has 2 baths; second‑floor unit has 1 bath
