10-Unit Brick Apartment
For Sale
$1,499,900
328 Western Avenue, Albany, NY 12203
Brick multifamily property with established access to colleges, hospitals, dining, shopping, transit, and downtown Albany.
Property Size6,020 SF
Price / SF$249.15
Days on Market54
Property Features for 328 Western Avenue
General Information
Standard status
Active
Size
6,020 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
10
Taxes and HOA fees
Annual Taxes
$17,414
Building Details
Year Built
1900
Construction
brick
Listing Agency:
Howard Hanna Capital Inc
Listed By:
Mariana DeLuca · License #30194
(518) 258-7595
Source:
Capmarkrealty
Added: Aug 21
Changed: Sep 13
Last Checked: Oct 12 at 4:48PM
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
Located at 328 Western Ave in Albany’s Pine Hills neighborhood, this brick multifamily property contains 10 apartment units and 6020 square feet. The building dates to 1900 and provides a substantial residential configuration within an established Albany neighborhood.
The property offers convenient access to colleges, hospitals, restaurants, shopping, public transportation, and downtown Albany. It may also be purchased as part of a package that includes 77 S. Allen Street, a 3-unit property, and 299 Quail Street, a 6-unit property.
The property offers convenient access to colleges, hospitals, restaurants, shopping, public transportation, and downtown Albany. It may also be purchased as part of a package that includes 77 S. Allen Street, a 3-unit property, and 299 Quail Street, a 6-unit property.
Key Highlights
- 10‑unit brick multifamily property
- 6020 square feet of building area
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,493
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,229,860
$1.2M
Cap Rate 7%
$878,471
$878.5K
Cap Rate 9%
$683,256
$683.3K
Market Conditions
NOI Build-Up for 6,020 SF
Gross rent
$119.2K $19.80/SF
− Vacancy
−$7.4K −$1.23/SF
EGI
$111.8K $18.57/SF
− OpEx
−$50.3K −$8.36/SF
NOI
$61.5K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,229,860
Cap Rate 7%
$878,471
Cap Rate 9%
$683,256
Alternative Uses
Best Use
Apartment 5plus
$878.5K
$768.7K – $1.02M
NOI $61,493 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,177 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
1,463
Businesses Nearby
Explore this area
Business Placement
Demographics for 12203, NY
28,210
Population
14,755
Households
1.9
Avg Household Size
38
Median Age
54%
College-Educated
95%
High-School Grad
10.4 sq mi
ZIP Area
2,713
Density / Sq Mi
$80,055
Median Household Income
$44,412
Median Earnings
$1,342
Median Rent
$258,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick multifamily property with established access to colleges, hospitals, dining, shopping, transit, and downtown Albany.
Where is this apartment building located?
The property is located at 328 Western Avenue Albany, NY.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: 10‑unit brick multifamily property; 6020 square feet of building area; Built in 1900
