Multifamily Property with Separate
For Sale
$375,000
288-290 Yates Street, Albany, NY 12208
Income-producing multifamily property with separate utility services and established tenancy.
Property Size2,800 SF
Price / SF$133.93
Days on Market69
Property Features for 288-290 Yates Street
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multi-family
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1900
Listing Agency:
M J J Realty
Listed By:
Shawn D Clark Sr
(518) 229-5606
Source:
Signatureonerealtygroup
Added: Aug 23
Changed: Oct 29
Last Checked: Oct 28 at 8:34AM
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 M J J Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property contains 2,800 square feet and was constructed in 1900. Separate utilities serve the property, while long-term tenants are already in place. The asset is offered in its existing condition and may suit investors seeking an established residential income property.
Showings require 48 hours’ notice, with either pre-approval documentation or proof of funds required before an appointment is confirmed.
Showings require 48 hours’ notice, with either pre-approval documentation or proof of funds required before an appointment is confirmed.
Key Highlights
- 2,800‑square‑foot multifamily property
- Built in 1900
- Separate utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,887
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,740
$637.7K
Cap Rate 7%
$455,529
$455.5K
Cap Rate 9%
$354,300
$354.3K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$48.7K $17.40/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$45.6K $16.27/SF
− OpEx
−$13.7K −$4.88/SF
NOI
$31.9K $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%
$637,740
Cap Rate 7%
$455,529
Cap Rate 9%
$354,300
Alternative Uses
Best Use
Multifamily LT 5
$455.5K
$398.6K – $531.5K
NOI $31,887 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$408.6K
$357.5K – $476.7K
NOI $28,601 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$738.7K
$646.4K – $861.8K
NOI $51,710 @ 7.0% cap · market cap 13.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,003
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Income-producing multifamily property with separate utility services and established tenancy.
Where is this multifamily property located?
The property is located at 288-290 Yates Street Albany, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,800‑square‑foot multifamily property; Built in 1900; Separate utilities
