4-Unit Apartment
New
For Sale
$565,000
474 Madison Avenue, Albany, NY 12208
A new natural-gas boiler for the building is to be installed before closing, with professional installation and a warranty.
Property Size4,680 SF
Lot Size0.06 Acres
Price / SF$120.73
Days on Market4
Property Features for 474 Madison Avenue
General Information
Standard status
Active
Size
4,680 SF
Lot size
0.06 Acres
Property subtype
Multi-Family
Zoning
Multi Residence
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,314
Building Details
Year Built
1875
Buildings
1
Listing Agency:
Tibbitts & Co Realty
Listed By:
Trent Tibbitts
(518) 487-8902
Source:
Capmarkrealty
Added: Oct 24
Changed: Oct 26
Last Checked: Oct 26 at 12:58PM
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 Tibbitts & Co Realty
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-unit apartment building contains 4,680 square feet on a 0.06-acre parcel. Built in 1875, the property is zoned Multi Residence. A new natural-gas boiler serving the entire building is to be supplied by the seller, professionally installed before closing, and warrantied.
The property is at 474 Madison Avenue in Albany, near Washington Park, restaurants, shopping, and public transportation.
The property is at 474 Madison Avenue in Albany, near Washington Park, restaurants, shopping, and public transportation.
Key Highlights
- Four apartment units in a 4,680‑square‑foot building
- 0.06‑acre parcel; zoned Multi Residence
- Built in 1875
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,805
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$956,100
$956.1K
Cap Rate 7%
$682,929
$682.9K
Cap Rate 9%
$531,167
$531.2K
Market Conditions
NOI Build-Up for 4,680 SF
Gross rent
$92.7K $19.80/SF
− Vacancy
−$5.7K −$1.23/SF
EGI
$86.9K $18.57/SF
− OpEx
−$39.1K −$8.36/SF
NOI
$47.8K $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%
$956,100
Cap Rate 7%
$682,929
Cap Rate 9%
$531,167
Alternative Uses
Best Use
Multifamily LT 5
$761.4K
$666.2K – $888.3K
NOI $53,297 @ 7.0% cap · market cap 9.43%
Second Best
Apartment 5plus
$682.9K
$597.6K – $796.8K
NOI $47,805 @ 7.0% cap · market cap 8.46%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,430 @ 7.0% cap · market cap 15.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Explore this area
Business Placement
Demographics for 12208, NY
22,118
Population
11,522
Households
1.9
Avg Household Size
34
Median Age
56%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
5,027
Density / Sq Mi
$69,505
Median Household Income
$39,268
Median Earnings
$1,291
Median Rent
$255,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - A new natural-gas boiler for the building is to be installed before closing, with professional installation and a warranty.
Where is this quadplex located?
The property is located at 474 Madison Avenue Albany, NY.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Four apartment units in a 4,680‑square‑foot building; 0.06‑acre parcel; zoned Multi Residence; Built in 1875
