Two-Family Duplex with Separated
For Sale
$249,740
Pending
468 West Street, Albany, NY 12206
Two residential units offer three-bedroom layouts with eat-in kitchens, full baths, and access to a shared basement.
Property Size2,244 SF
Days on Market219
Property Features for 468 West Street
General Information
Standard status
Pending
Size
2,244 SF
Property subtype
Multi Family / Duplex
Zoning
Multi Residence
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,104
Amenities
front porches
Built-Up
None, No
Steam, Natural Gas, Yes
Full, Interior Entry, Unfinished, Walk-Out Access
100 Amp Service, Circuit Breakers
Hardwood, Linoleum
No
Block
Yes
Aluminum Siding, Shingle Siding
Back Yard
Wood Frames
Electric Dryer Hookup, Gas Dryer Hookup, Washer Hookup
Covered, Front Porch
Building Details
Year Built
1920
Listing Agency:
Howard Hanna Capital Inc
Listed By:
William G Hannon · License #10401210864
(518) 424-4827
Source:
Compass
Added: Mar 13
Changed: Oct 4
Last Checked: Oct 16 at 10:52AM
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 Howard Hanna Capital Inc
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Investment Insights
Based on property information with market context.
Built in 1920, this 2,244-square-foot duplex contains two residential units, each arranged with three bedrooms, a combined living and dining area, an eat-in kitchen, and one full bathroom. Front porches serve both units, while the property also includes a full unfinished basement with interior entry and walk-out access. Separate utilities support distinct unit operations. Interior finishes include hardwood and linoleum flooring, with steam heat supplied by natural gas. The exterior combines aluminum and shingle siding.
The property is zoned Multi Residence and is located at 468 West Street in Albany, near Central Avenue and RT 5. Bus service is nearby, and shopping is within a short walk. Additional features include a back yard, covered front porch, washer and dryer hookups, and 100 Amp electrical service with circuit breakers.
The property is zoned Multi Residence and is located at 468 West Street in Albany, near Central Avenue and RT 5. Bus service is nearby, and shopping is within a short walk. Additional features include a back yard, covered front porch, washer and dryer hookups, and 100 Amp electrical service with circuit breakers.
Key Highlights
- Two‑unit duplex with 2,244 SF of total property size
- Each unit includes 3 bedrooms, combined living and dining rooms, an eat‑in kitchen, and 1 full bath
- Full unfinished basement with interior entry and walk‑out access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,922
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,440
$458.4K
Cap Rate 7%
$327,457
$327.5K
Cap Rate 9%
$254,689
$254.7K
Market Conditions
NOI Build-Up for 2,244 SF
Gross rent
$44.4K $19.80/SF
− Vacancy
−$2.8K −$1.23/SF
EGI
$41.7K $18.57/SF
− OpEx
−$18.8K −$8.36/SF
NOI
$22.9K $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%
$458,440
Cap Rate 7%
$327,457
Cap Rate 9%
$254,689
Alternative Uses
Best Use
Multifamily LT 5
$365.1K
$319.4K – $425.9K
NOI $25,555 @ 7.0% cap · market cap 10.23%
Second Best
Apartment 5plus
$327.5K
$286.5K – $382.0K
NOI $22,922 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$592.0K
$518.0K – $690.7K
NOI $41,442 @ 7.0% cap · market cap 16.59%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,229
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer three-bedroom layouts with eat-in kitchens, full baths, and access to a shared basement.
Where is this duplex located?
The property is located at 468 West Street Albany, NY.
What is the asking price?
The asking price for this property is $249,740.
What are key features of this property?
This property features: Two‑unit duplex with 2,244 SF of total property size; Each unit includes 3 bedrooms, combined living and dining rooms, an eat‑in kitchen, and 1 full bath; Full unfinished basement with interior entry and walk‑out access
