Seven-Unit Residential Income
328 Milton Avenue Ballston Spa, NY 12020
328 Milton Avenue, Ballston Spa, NY, 12020
$715,000
For Sale
$715,000
Seven-unit multifamily property offering five one-bedroom and two two-bedroom apartments.
Property Size4,506 SF
Price / SF$158.68
Days on Market70
Property Features for 328 Milton Avenue
General Information
- Standard status
- Active
- Size
- 4,506 SF
- Property subtype
- Multi Family
Listing agency
Pyramidbrokerage
(518) 489-9199
Listed by
Pyramid Brokerage Albany
(518) 489-9199
Source
Pyramidbrokerage
Added: May 14 Updated: Jul 21 at 9:04PM Checked: Jul 21 at 9:04PM
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 seven-unit residential income building features a unit mix of five one-bedroom apartments and two two-bedroom units. The property has undergone substantial renovations over the last several years, positioned as a turnkey addition for an investor.
Situated in the village of Ballston Spa, the property is described as within easy walking distance to local boutiques, popular eateries, and village festivals.
The configuration supports a balanced mix across one- and two-bedroom layouts.
Situated in the village of Ballston Spa, the property is described as within easy walking distance to local boutiques, popular eateries, and village festivals.
The configuration supports a balanced mix across one- and two-bedroom layouts.
Key Highlights
- 7‑unit multifamily property with 5 one‑bedroom and 2 two‑bedroom apartments
- Monthly gross income of $8,630
- Substantial renovations completed over the last several years
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
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Seven-unit multifamily property offering five one-bedroom and two two-bedroom apartments.
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 multifamily property with 5 one‑bedroom and 2 two‑bedroom apartments; Monthly gross income of $8,630; Substantial renovations completed over the last several years
