Fully Renovated Four-Unit
For Sale
$550,000
360 Madison Avenue, Albany, NY 12210
Turnkey quadplex with fully renovated interiors and separate utilities across four units.
Property Size4,464 SF
Price / SF$123.21
Days on Market63
Property Features for 360 Madison Avenue
General Information
Standard status
Active
Size
4,464 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
4
Building Details
Year Built
1887
Tenancy
Multi
Listing Agency:
Lincoln House Realty
Listed By:
John Alund
(518) 639-4663
Source:
Signatureonerealtygroup
Added: May 30
Changed: Jul 28
Last Checked: Jul 30 at 6:09PM
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 Lincoln House Realty
Investment Insights
Based on property information with market context.
This fully renovated four-unit quadplex offers a turnkey setup designed for efficient operations. The property features separate utilities, supporting lower owner expenses, and it is currently configured to generate monthly rents totaling $5,425. With well-maintained conditions throughout, it presents a straightforward option for an income-focused buyer seeking a manageable multifamily asset.
The building is located near Albany’s hospitals, colleges, downtown employers, restaurants, and public transportation, positioning it within a strong demand area for rental housing.
The property has a total size of 4,464 square feet and is listed as 360 Madison Avenue, Albany, NY 12210. It can also be packaged with 211 Quail Street.
The building is located near Albany’s hospitals, colleges, downtown employers, restaurants, and public transportation, positioning it within a strong demand area for rental housing.
The property has a total size of 4,464 square feet and is listed as 360 Madison Avenue, Albany, NY 12210. It can also be packaged with 211 Quail Street.
Key Highlights
- Year built 1887 four‑unit (quadplex) with fully renovated, well‑maintained interiors
- Four units with monthly rents totaling $5,425
- Separate utilities for the units to help minimize owner expenses
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 | $88.4k | $19.80 |
| − Vacancy | −$5.5k | −$1.23 |
| EGI | $82.9k | $18.57 |
| − OpEx | −$37.3k | −$8.36 |
| NOI | $45.6k | $10.21 |
4,464 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$726.2K
$635.5K – $847.3K
NOI $50,837 @ 7.0% cap · market cap 9.24%
Second Best
Apartment 5plus
$651.4K
$570.0K – $760.0K
NOI $45,599 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,441 @ 7.0% cap · market cap 14.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,105
Businesses Nearby
Explore this area
Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Turnkey quadplex with fully renovated interiors and separate utilities across four units.
Where is this quadplex located?
The property is located at 360 Madison Avenue Albany, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Year built 1887 four‑unit (quadplex) with fully renovated, well‑maintained interiors; Four units with monthly rents totaling $5,425; Separate utilities for the units to help minimize owner expenses
