All-Brick Apartment
371 Hudson Avenue Albany, NY 12210
371 Hudson Avenue, Albany, NY, 12210
$625,000
For Sale
$625,000
All-brick multifamily with newer rubber roof, heat/hot water included, and tenants responsible for electric and cooking gas.
Property Size3,564 SF
Price / SF$175.36
Days on Market203
Property Features for 371 Hudson Avenue
General Information
- Standard status
- Active
- Size
- 3,564 SF
- Property subtype
- Multi Family / Multi Family
Building Details
- Year Built
- 1930
Listing agency
518 Realty.Com Inc
(518) 369-4856
Listed by
Christine L Sbardella · License #40ST1037690
(518) 369-4856
Source
Compass
Added: Dec 31, 2025 Updated: Jul 21 at 7:17AM Checked: Jul 21 at 7:17AM
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 518 Realty.Com Inc
Investment Insights
Based on property information with market context.
This all-brick apartment building is a legacy-style residential income property with newer rubber roofing and ongoing, year-by-year heating system maintenance and inspections. The property includes improved unit finishes, along with new luxury vinyl flooring in hallways, freshly painted hallways, and new flooring in many units. Heat and hot water are included in the rents, while tenants pay their electric and cooking gas. Outside, the building features on-street parking and a large back yard. An exterior maintenance person is available to continue snow and lawn care, and there is separate basement storage that may offer additional value if desired.
The building is located at 371 Hudson Avenue in Albany, between Lark Street and Washington Park. Current updates include flooring and hallway improvements, and the property is being offered with ROP active until 4/24/2026. Package purchasing may also be available with two other identical buildings at 369 and 373 Hudson, for a total of three buildings.
The offering is described as a traditional apartment building setup, with units not chopped up into smaller configurations, and the owner is a licensed New York State real estate broker.
The building is located at 371 Hudson Avenue in Albany, between Lark Street and Washington Park. Current updates include flooring and hallway improvements, and the property is being offered with ROP active until 4/24/2026. Package purchasing may also be available with two other identical buildings at 369 and 373 Hudson, for a total of three buildings.
The offering is described as a traditional apartment building setup, with units not chopped up into smaller configurations, and the owner is a licensed New York State real estate broker.
Key Highlights
- All‑brick multifamily building built in 1930 with flat roof and newer rubber roof
- Heating includes baseboard/steam with natural gas; no cooling system
- Heat/hot water included in rents; tenants pay electric and cooking gas
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 | $70.6k | $19.80 |
| − Vacancy | −$4.4k | −$1.23 |
| EGI | $66.2k | $18.57 |
| − OpEx | −$29.8k | −$8.36 |
| NOI | $36.4k | $10.21 |
3,564 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$520.1K
$455.1K – $606.8K
NOI $36,406 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$940.3K
$822.8K – $1.10M
NOI $65,820 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - All-brick multifamily with newer rubber roof, heat/hot water included, and tenants responsible for electric and cooking gas.
Where is this apartment building located?
The property is located at 371 Hudson Avenue Albany, NY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: All‑brick multifamily building built in 1930 with flat roof and newer rubber roof; Heating includes baseboard/steam with natural gas; no cooling system; Heat/hot water included in rents; tenants pay electric and cooking gas
