7-Unit Multi-Family
328 Milton Avenue Ballston Spa, NY 12020
328 Milton Avenue, Ballston Spa, NY, 12020
$715,000
For Sale
$715,000
MULTI_FAMILY - Other - Ballston Spa, NY
Property Size4,506 SF
Lot Size0.20 Acres
Price / SF$158.68
Days on Market73
Property Features for 328 Milton Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Commercial
- Bedrooms
- 9
- Bathrooms
- 7
- Rooms
- Bathroom 1, Bathroom 7, Bathroom 2, Bedroom 5, Bedroom 2, Bathroom 4, Bathroom 5, Bedroom 3, Bathroom 6, Bedroom 8, Bedroom 1, Bathroom 3, Bedroom 9, Bedroom 4, Bedroom 6, Bedroom 7
- Parking
- 6
- Parking features
- Garage, Off Street
- Patio and Porch features
- Porch
- Interior features
- High Speed Internet
- Basement
- Partial
- Standard status
- Active
- APN
- 414201 203.80-2-1
- Size
- 4,506 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Annual Amount
- 12200
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Baseboard
- Water source
- Public
Building Details
- Year built
- 1890
- Number of units
- 7
- Flooring type
- Hardwood, Laminate, Vinyl
- Building materials
- Aluminum Siding
- Roof type
- Rubber, Shingle, Asphalt
- Architectural style
- Other
Listing Agency
High Rock Realty
(518) 691-0669
2149 Doubleday Ave., Ste. 2, Saratoga Springs, NY
Listed by
Daniel Munn · License #31MU0830205
(518) 281-4113
Added: May 6 Checked: Jul 17 at 7:06 am
MLS# 202616647
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.
Investment Insights
Based on property information with market context.
Located at 328 Milton Avenue in Ballston Spa, this 7-unit multifamily property is zoned Commercial and offers a unit mix of five 1-bedroom apartments and two 2-bedroom apartments. The building includes a coin-op laundry room and an on-site garage, with additional off-street parking available to support tenant needs.
Recent renovations focus on major building systems and envelope improvements. Reported upgrades include a full electrical system overhaul, extensive plumbing updates, installation of a new Navien high-efficiency boiler, and a power-vented hot water heater. The building has also seen comprehensive insulation and air sealing, along with a flat roof replacement. In addition to the mechanical work, apartments and common areas have been updated, including an upgraded front porch, renovated apartments, and updated exterior walkways with a patio.
Off-street parking is described as 4 cars to the right of the property and 2 cars to the left, with the garage providing further flexibility. Showing times are restricted to respect tenant privacy, and a complete list of renovations and financial documents are available for review.
Recent renovations focus on major building systems and envelope improvements. Reported upgrades include a full electrical system overhaul, extensive plumbing updates, installation of a new Navien high-efficiency boiler, and a power-vented hot water heater. The building has also seen comprehensive insulation and air sealing, along with a flat roof replacement. In addition to the mechanical work, apartments and common areas have been updated, including an upgraded front porch, renovated apartments, and updated exterior walkways with a patio.
Off-street parking is described as 4 cars to the right of the property and 2 cars to the left, with the garage providing further flexibility. Showing times are restricted to respect tenant privacy, and a complete list of renovations and financial documents are available for review.
Key Highlights
- 7‑unit multi‑family in the village of Ballston Spa with 5 one‑bedroom and 2 two‑bedroom apartments
- Monthly gross income of $8,630 reported
- Major infrastructure upgrades: full electrical system overhaul, extensive plumbing updates, new Navien high‑efficiency boiler, and power‑vented hot water heater
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $113.6k | $25.20 |
| − Vacancy | −$4.8k | −$1.06 |
| EGI | $108.8k | $24.14 |
| − OpEx | −$49.0k | −$10.86 |
| NOI | $59.8k | $13.28 |
4,506 SF · lease $25.20/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$854.7K
$747.9K – $997.2K
NOI $59,830 @ 7.0% cap · market cap 8.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,410 @ 7.0% cap · market cap 13.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Renovated 7-unit building with coin-op laundry and off-street parking, configured with five 1-bedroom and two 2-bedroom units.
Where is this apartment building located?
The property is located at 328 Milton Avenue Ballston Spa, NY.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: 7‑unit multi‑family in the village of Ballston Spa with 5 one‑bedroom and 2 two‑bedroom apartments; Monthly gross income of $8,630 reported; Major infrastructure upgrades: full electrical system overhaul, extensive plumbing updates, new Navien high‑efficiency boiler, and power‑vented hot water heater
