Four-Unit Property with
494 Delaware Avenue, Albany, NY 12209
For Sale
$375,000
Pending
MultiFamily, Albany, NY
Property Size2,654 SF
Lot Size0.09 Acres
Days on Market56
Property Features for 494 Delaware Avenue
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Parking features
Patio and Porch features
Basement
Lot features
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
laundry facilities
front porch
back porch
backyard
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Architectural style
Listing Agency:
Gabler Realty LLC
(518) 935-4800
Listed By:
Christina A Center · License NY 40CE1129368
(518) 573-5635
Added: Sep 16
Changed: Oct 30
Last Checked: Nov 10 at 3:06AM
MLS# 202626307
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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.
Built in 1920, this four-unit residential property contains 2654 square feet on a 0.09-acre lot. The unit mix includes three one-bedroom, one-bath apartments and one two-bedroom, one-bath apartment. Shared newer laundry facilities are located in the basement. The property is being sold as is and includes aluminum siding, wood, tile, carpet, and linoleum flooring, along with natural gas hot-water heating and wall-unit cooling.
Exterior features include a welcoming front sitting porch, rear porch, backyard, and a 3-car detached garage with driveway access. Off-street parking is also available. The property is served by public water and public sewer and has an asphalt roof.
Located at 494 Delaware Avenue in Albany, the property is near a theater, library, shopping, dining, neighborhood amenities, and a bus line.
Exterior features include a welcoming front sitting porch, rear porch, backyard, and a 3-car detached garage with driveway access. Off-street parking is also available. The property is served by public water and public sewer and has an asphalt roof.
Located at 494 Delaware Avenue in Albany, the property is near a theater, library, shopping, dining, neighborhood amenities, and a bus line.
Key Highlights
- Four‑unit layout with three 1‑bedroom units and one 2‑bedroom unit
- 2,654 square feet on a 0.09‑acre lot
- 3‑car detached garage with driveway access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,225
Cap Rate
8.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$604,500
$604.5K
Cap Rate 7%
$431,786
$431.8K
Cap Rate 9%
$335,833
$335.8K
Market Conditions
NOI Build-Up for 2,654 SF
Gross rent
$46.2K $17.40/SF
− Vacancy
−$3.0K −$1.13/SF
EGI
$43.2K $16.27/SF
− OpEx
−$13.0K −$4.88/SF
NOI
$30.2K $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%
$604,500
Cap Rate 7%
$431,786
Cap Rate 9%
$335,833
Alternative Uses
Best Use
Multifamily LT 5
$431.8K
$377.8K – $503.8K
NOI $30,225 @ 7.0% cap · market cap 8.06%
Second Best
Apartment 5plus
$387.3K
$338.9K – $451.8K
NOI $27,110 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$700.2K
$612.7K – $816.9K
NOI $49,014 @ 7.0% cap · market cap 13.07%
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
4
Residential units
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
Explore this area
Business Placement
Demographics for 12209, NY
10,231
Population
4,768
Households
2.1
Avg Household Size
37
Median Age
46%
College-Educated
88%
High-School Grad
2.2 sq mi
ZIP Area
4,650
Density / Sq Mi
$81,642
Median Household Income
$51,848
Median Earnings
$1,165
Median Rent
$200,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Quadplexes in Albany, NY
Properties on Market for Quadplexes in Albany
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Three one-bedroom apartments and one two-bedroom apartment share basement laundry and outdoor porch areas.
Where is this quadplex located?
The property is located at 494 Delaware Avenue Albany, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Four‑unit layout with three 1‑bedroom units and one 2‑bedroom unit; 2,654 square feet on a 0.09‑acre lot; 3‑car detached garage with driveway access
