All-Brick Apartment
For Sale
$625,000
371 Hudson Avenue, Albany, NY 12210
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 Market248
Property Features for 371 Hudson Avenue
General Information
Standard status
Active
Size
3,564 SF
Property subtype
Multi Family / Multi Family
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$13,499
Amenities
Flat
None, No
Baseboard, Steam, Natural Gas, Yes
Full, Unfinished
Fuses
Vinyl, Ceramic Tile, Hardwood
Brick/Mortar
Brick
Yes
Wrought Iron, Back Yard, Gate
Garden
Smoke Detector(s), Carbon Monoxide Detector(s)
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
518 Realty.Com Inc
Listed By:
Christine L Sbardella · License #40ST1037690
(518) 369-4856
Source:
Compass
Added: Dec 31, 2025
Changed: Aug 8
Last 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
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,406
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$728,120
$728.1K
Cap Rate 7%
$520,086
$520.1K
Cap Rate 9%
$404,511
$404.5K
Market Conditions
NOI Build-Up for 3,564 SF
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.
Gross rent
$70.6K $19.80/SF
− Vacancy
−$4.4K −$1.23/SF
EGI
$66.2K $18.57/SF
− OpEx
−$29.8K −$8.36/SF
NOI
$36.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$728,120
Cap Rate 7%
$520,086
Cap Rate 9%
$404,511
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,369
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?
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
