4-Unit Quadplex with
402 Clinton Avenue, Albany, NY 12206
For Sale
$530,000
MultiFamily, Albany, NY
Property Size2,822 SF
Lot Size0.08 Acres
Price / SF$187.81
Days on Market52
Property Features for 402 Clinton Avenue
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Interior features
Fencing
Basement
Lot features
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
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Water source
Building Details
Year built
Number of units
Flooring type
Building materials
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Architectural style
Buildings
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Luke Khachadourian · License NY #10301219050
(518) 937-3252
Added: Sep 24
Changed: Nov 13
Last Checked: Nov 14 at 12:06AM
MLS# 202626964
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1909, this 2,822-square-foot brick quadplex in Albany contains four apartments on a 0.08-acre parcel. Interior updates retain original character, with hardwood and tile flooring, crown molding, and tray ceilings. Natural gas-fired radiant and hot-water heating serve the building. A two-car garage and gated backyard are also part of the property.
All four units are rented, with the third-floor apartment available for delivery vacant. The current four-unit configuration may have the potential to be converted to six units. The property is zoned Commercial and has public water and sewer service.
All four units are rented, with the third-floor apartment available for delivery vacant. The current four-unit configuration may have the potential to be converted to six units. The property is zoned Commercial and has public water and sewer service.
Key Highlights
- Four apartments within a 2,822‑square‑foot brick building
- 0.08‑acre parcel with a two‑car garage and gated backyard
- All four units are rented; third‑floor unit can be delivered vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,138
Cap Rate
6.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$642,760
$642.8K
Cap Rate 7%
$459,114
$459.1K
Cap Rate 9%
$357,089
$357.1K
Market Conditions
NOI Build-Up for 2,822 SF
Gross rent
$49.1K $17.40/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$45.9K $16.27/SF
− OpEx
−$13.8K −$4.88/SF
NOI
$32.1K $11.39/SF
Area
Albany, NY
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$642,760
Cap Rate 7%
$459,114
Cap Rate 9%
$357,089
Alternative Uses
Best Use
Multifamily LT 5
$459.1K
$401.7K – $535.6K
NOI $32,138 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$411.8K
$360.3K – $480.4K
NOI $28,826 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$744.5K
$651.5K – $868.6K
NOI $52,117 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,685
Businesses Nearby
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Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Albany, NY
Properties on Market for Quadplexes in Albany
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Commercial zoning accompanies a brick multifamily property with a gated backyard area.
Where is this quadplex located?
The property is located at 402 Clinton Avenue Albany, NY.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Four apartments within a 2,822‑square‑foot brick building; 0.08‑acre parcel with a two‑car garage and gated backyard; All four units are rented; third‑floor unit can be delivered vacant
