10-Unit Multifamily
For Sale
$1,250,000
34-36 Sparkill, Albany, NY 12208
Two apartment buildings offer a mix of studio, one-bedroom, and two-bedroom rentals, with tenant-paid utilities at one property.
Property Size10,817 SF
Price / SF$115.56
Days on Market57
Property Features for 34-36 Sparkill
General Information
Standard status
Active
Size
10,817 SF
Property subtype
Commercial
Financials
Cap Rate
7.5%
Gross Income
$146,052
Units
Unit Mix
4 x 2BR, 1 x 1BR, 3 x 1BR, 1 x 2BR, 1 x Studio
Multifamily Units
10
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$22,704
Building Details
Building Size
10,817 SF
Year Built
1929
Buildings
2
Stories
2
Units
10
Listed By:
Gail Leone
(914) 723-8228
Source:
Clairedleone
Added: Aug 30
Changed: Oct 23
Last Checked: Oct 23 at 5:29PM
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 Gail Leone
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Investment Insights
Based on property information with market context.
This multifamily offering comprises two apartment buildings with 10 rental units and approximately 10,817 square feet combined. The 6,608-square-foot building contains four two-bedroom apartments and one one-bedroom basement apartment. Tenants at this property pay their own utilities. The second building measures 4,209 square feet and includes three one-bedroom apartments, one two-bedroom apartment, and one studio.
Together, the buildings provide a varied unit mix and are reported at a 7.5% cap rate. The first property is identified on Sparkill Avenue; the second is listed on Myrtle Avenue.
Together, the buildings provide a varied unit mix and are reported at a 7.5% cap rate. The first property is identified on Sparkill Avenue; the second is listed on Myrtle Avenue.
Key Highlights
- Two apartment buildings with 10 residential units and approximately 10,817 square feet combined
- The 6,608‑square‑foot building has four two‑bedroom apartments and one one‑bedroom basement apartment
- The 4,209‑square‑foot building includes three one‑bedroom apartments, one two‑bedroom apartment, and one studio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$110,494
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,209,880
$2.2M
Cap Rate 7%
$1,578,486
$1.6M
Cap Rate 9%
$1,227,711
$1.2M
Market Conditions
NOI Build-Up for 10,817 SF
Gross rent
$214.2K $19.80/SF
− Vacancy
−$13.3K −$1.23/SF
EGI
$200.9K $18.57/SF
− OpEx
−$90.4K −$8.36/SF
NOI
$110.5K $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%
$2,209,880
Cap Rate 7%
$1,578,486
Cap Rate 9%
$1,227,711
Alternative Uses
Best Use
Apartment 5plus
$1.58M
$1.38M – $1.84M
NOI $110,494 @ 7.0% cap · market cap 8.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.85M
$2.50M – $3.33M
NOI $199,768 @ 7.0% cap · market cap 15.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
596
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?
Apartment building - Two apartment buildings offer a mix of studio, one-bedroom, and two-bedroom rentals, with tenant-paid utilities at one property.
Where is this apartment building located?
The property is located at 34-36 Sparkill Albany, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Two apartment buildings with 10 residential units and approximately 10,817 square feet combined; The 6,608‑square‑foot building has four two‑bedroom apartments and one one‑bedroom basement apartment; The 4,209‑square‑foot building includes three one‑bedroom apartments, one two‑bedroom apartment, and one studio
