Recently Renovated Six-Unit
464-466 Washington Avenue Albany, NY 12203
For Sale
$599,990
Pending
Recently renovated six-unit residential income property with a mix of one- and two-bedroom units.
Property Size5,100 SF
Days on Market37
Property Features for 464-466 Washington Avenue
General Information
Standard status
Pending
Size
5,100 SF
Property subtype
Multi Family / Multi Family
Building Details
Year Built
1920
Listing Agency:
AMBK Realty LLC
(518) 225-0202
Listed By:
Billie Jo Kirwan · License #10401348957
(518) 225-0202
Source:
Compass
Added: Jun 22
Changed: Jul 21
Last Checked: Jul 27 at 12:33PM
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 AMBK Realty LLC
Investment Insights
Based on property information with market context.
This recently renovated six-unit residential income building includes six distinct apartments. One unit is currently occupied as a three-bedroom, and the remaining units are unoccupied. The unoccupied unit mix consists of three two-bedroom apartments and two one-bedroom apartments.
The property is offered for sale as a small multifamily asset located at 464-466 Washington Avenue in Albany, New York.
The current configuration provides a combination of bedroom layouts across the six units, with renovation work completed prior to listing.
The property is offered for sale as a small multifamily asset located at 464-466 Washington Avenue in Albany, New York.
The current configuration provides a combination of bedroom layouts across the six units, with renovation work completed prior to listing.
Key Highlights
- Recently renovated 6‑unit residential income property
- Unit mix: one 3‑bedroom unit, three 2‑bedroom units, and two 1‑bedroom units
- Heating: natural gas (heating available)
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 | $101.0k | $19.80 |
| − Vacancy | −$6.3k | −$1.23 |
| EGI | $94.7k | $18.57 |
| − OpEx | −$42.6k | −$8.36 |
| NOI | $52.1k | $10.21 |
5,100 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$744.2K
$651.2K – $868.3K
NOI $52,096 @ 7.0% cap · market cap 8.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,187 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Recently renovated six-unit residential income property with a mix of one- and two-bedroom units.
Where is this apartment building located?
The property is located at 464-466 Washington Avenue Albany, NY.
What is the asking price?
The asking price for this property is $599,990.
What are key features of this property?
This property features: Recently renovated 6‑unit residential income property; Unit mix: one 3‑bedroom unit, three 2‑bedroom units, and two 1‑bedroom units; Heating: natural gas (heating available)
