6-Unit Apartment
New
For Sale
$985,000
46 Willett St, Albany, NY 12210
The unit mix comprises five one-bedroom apartments and one studio.
Property Size4,552 SF
Price / SF$216.39
Days on Market3
Property Features for 46 Willett St
General Information
Standard status
Active
Size
4,552 SF
Property subtype
Multi-Family
Units
Unit Mix
5 x one-bedroom, 1 x studio
Multifamily Units
6
Individually Metered Utilities
electricity
Additional Details
Gross Income
$95,040
Tenant in Place
Yes
Building Details
Year Built
1877
Listing Agency:
Berkshire Hathaway Home Services Blake
Listed By:
Michael Field · License #30WA0832219
(518) 669-1804
Source:
Fieldrealty
Added: Oct 28
Last Checked: Oct 28 at 6:42AM
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 Berkshire Hathaway Home Services Blake
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,552-square-foot apartment building dates to 1877 and contains six residences: five one-bedroom apartments and one studio. Each apartment has a separate electric meter, and residents pay for their own electricity, including electric cooking. Heat and hot water are provided through a single commercial unit, with the landlord responsible for those services.
The property is at 46 Willett Street in Albany, directly on Washington Park.
The property is at 46 Willett Street in Albany, directly on Washington Park.
Key Highlights
- Six apartments: five one‑bedrooms and one studio
- 4,552 square feet
- Built in 1877
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,498
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$929,960
$930.0K
Cap Rate 7%
$664,257
$664.3K
Cap Rate 9%
$516,644
$516.6K
Market Conditions
NOI Build-Up for 4,552 SF
Gross rent
$90.1K $19.80/SF
− Vacancy
−$5.6K −$1.23/SF
EGI
$84.5K $18.57/SF
− OpEx
−$38.0K −$8.36/SF
NOI
$46.5K $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%
$929,960
Cap Rate 7%
$664,257
Cap Rate 9%
$516,644
Alternative Uses
Best Use
Apartment 5plus
$664.3K
$581.2K – $775.0K
NOI $46,498 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,066 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix comprises five one-bedroom apartments and one studio.
Where is this apartment building located?
The property is located at 46 Willett St Albany, NY.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Six apartments: five one‑bedrooms and one studio; 4,552 square feet; Built in 1877
