Two-Unit Duplex with Private
For Sale
$399,800
Pending
49 Hillcrest Ave, Albany, NY 12203
Up-and-down layout provides separate laundry, outdoor access, and dedicated parking for each residence.
Property Size3,113 SF
Days on Market49
Property Features for 49 Hillcrest Ave
General Information
Standard status
Pending
Size
3,113 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
private laundry
deck
Building Details
Year Built
1983
Buildings
1
Listing Agency:
Legacy Nine Realty
Listed By:
Michael Field · License #10491203035
(518) 669-1804
Source:
Fieldrealty
Added: Sep 2
Changed: Oct 19
Last Checked: Oct 19 at 7:13AM
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 Legacy Nine Realty
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Investment Insights
Based on property information with market context.
Built in 1983, this two-unit residential property contains 3,113 square feet in an up-and-down configuration. The lower residence occupies two levels with 3 bedrooms, 2 full bathrooms, a wet bar, spiral staircase, and separate hallway laundry. The upper residence includes 2 bedrooms, 1 full bathroom, vaulted ceilings, skylights, and a dedicated laundry closet. Each unit has interior apartment access, outdoor access, and a private connection to the multi-tiered deck. Four off-street parking spaces are included.
The property is located at 49 Hillcrest Ave in Albany’s Eagle Hill neighborhood, across Western Ave from the Harriman Campus. Area hospitals, UAlbany, and major Capital District roadways are minutes away. Both residences are occupied by month-to-month tenants, providing the current lease arrangement. The Wadsworth Laboratory project at Harriman is underway, with an anticipated 2030 opening and projected employment of approximately 800 people.
The property is located at 49 Hillcrest Ave in Albany’s Eagle Hill neighborhood, across Western Ave from the Harriman Campus. Area hospitals, UAlbany, and major Capital District roadways are minutes away. Both residences are occupied by month-to-month tenants, providing the current lease arrangement. The Wadsworth Laboratory project at Harriman is underway, with an anticipated 2030 opening and projected employment of approximately 800 people.
Key Highlights
- 3,113‑square‑foot duplex built in 1983
- Lower unit offers 3 bedrooms, 2 full bathrooms, two floors, wet bar, and spiral staircase
- Upper unit includes 2 bedrooms, 1 full bathroom, vaulted ceilings, and skylights
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,452
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$709,040
$709.0K
Cap Rate 7%
$506,457
$506.5K
Cap Rate 9%
$393,911
$393.9K
Market Conditions
NOI Build-Up for 3,113 SF
Gross rent
$54.2K $17.40/SF
− Vacancy
−$3.5K −$1.13/SF
EGI
$50.6K $16.27/SF
− OpEx
−$15.2K −$4.88/SF
NOI
$35.5K $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%
$709,040
Cap Rate 7%
$506,457
Cap Rate 9%
$393,911
Alternative Uses
Best Use
Multifamily LT 5
$506.5K
$443.2K – $590.9K
NOI $35,452 @ 7.0% cap · market cap 8.87%
Second Best
Apartment 5plus
$454.3K
$397.5K – $530.0K
NOI $31,799 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$821.3K
$718.6K – $958.2K
NOI $57,491 @ 7.0% cap · market cap 14.38%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
353
Businesses Nearby
Explore this area
Business Placement
Demographics for 12203, NY
28,210
Population
14,755
Households
1.9
Avg Household Size
38
Median Age
54%
College-Educated
95%
High-School Grad
10.4 sq mi
ZIP Area
2,713
Density / Sq Mi
$80,055
Median Household Income
$44,412
Median Earnings
$1,342
Median Rent
$258,800
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 - Up-and-down layout provides separate laundry, outdoor access, and dedicated parking for each residence.
Where is this duplex located?
The property is located at 49 Hillcrest Ave Albany, NY.
What is the asking price?
The asking price for this property is $399,800.
What are key features of this property?
This property features: 3,113‑square‑foot duplex built in 1983; Lower unit offers 3 bedrooms, 2 full bathrooms, two floors, wet bar, and spiral staircase; Upper unit includes 2 bedrooms, 1 full bathroom, vaulted ceilings, and skylights
