Seven-Unit Residential Income
For Sale
$715,000
328 Milton Avenue, Ballston Spa, NY 12020
Seven-unit multifamily property offering five one-bedroom and two two-bedroom apartments.
Property Size4,506 SF
Price / SF$158.68
Days on Market160
Property Features for 328 Milton Avenue
General Information
Standard status
Active
Size
4,506 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
7
Building Details
Building Size
4,506 SF
Tenancy
Multi
Listing Agency:
Pyramidbrokerage
Listed By:
Pyramid Brokerage Albany
(518) 489-9199
Source:
Pyramidbrokerage
Added: May 14
Changed: Oct 10
Last Checked: Oct 19 at 3:19AM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,830
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,196,600
$1.2M
Cap Rate 7%
$854,714
$854.7K
Cap Rate 9%
$664,778
$664.8K
Market Conditions
NOI Build-Up for 4,506 SF
Gross rent
$113.6K $25.20/SF
− Vacancy
−$4.8K −$1.06/SF
EGI
$108.8K $24.14/SF
− OpEx
−$49.0K −$10.86/SF
NOI
$59.8K $13.28/SF
Area
Saratoga County, NY
Vacancy
4.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,196,600
Cap Rate 7%
$854,714
Cap Rate 9%
$664,778
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 authorities.
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Property Analytics
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Open Analytics
Lease Details
7
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
656
Businesses Nearby
Explore this area
Business Placement
Demographics for 12020, NY
34,667
Population
15,787
Households
2.2
Avg Household Size
42
Median Age
43%
College-Educated
94%
High-School Grad
75.6 sq mi
ZIP Area
459
Density / Sq Mi
$101,727
Median Household Income
$59,730
Median Earnings
$1,562
Median Rent
$299,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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
