Apartment Building with Off-Street
For Sale
$599,000
518 Hudson Avenue, Albany, NY 12203
Multi-unit property with a mix of one-, three-, and four-bedroom apartments and up to 12 off-street parking spaces.
Property Size3,000 SF
Price / SF$199.67
Days on Market55
Property Features for 518 Hudson Avenue
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
12
Property subtype
Multi-family
Additional Details
Multifamily Units
6
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
RE/MAX Capital
Listed By:
Douglas S Schenk
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jun 7
Changed: Jul 26
Last Checked: Jul 30 at 4:47PM
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 RE/MAX Capital
Investment Insights
Based on property information with market context.
This for-sale apartment building features a total of six units, with three one-bedroom units, two four-bedroom units, and one three-bedroom unit. The property is described as having month-to-month tenants, including many long-term tenants. Off-street parking is available, with capacity for up to 12 parking spaces.
Located at 518 Hudson Avenue in Albany, NY 12203, the property is marketed as convenient to downtown and nearby colleges, with access to a bus line. The remarks also note shopping and dining in the surrounding area.
The seller’s public remarks highlight net income of over $62,000. The list price is $599,000.
Located at 518 Hudson Avenue in Albany, NY 12203, the property is marketed as convenient to downtown and nearby colleges, with access to a bus line. The remarks also note shopping and dining in the surrounding area.
The seller’s public remarks highlight net income of over $62,000. The list price is $599,000.
Key Highlights
- Multi‑unit property built in 1920 with a mix of one-, three-, and four‑bedroom apartments
- Units include 3 one‑bedroom, 2 four‑bedroom, and 1 three‑bedroom apartment
- All tenants are month‑to‑month, with many long‑term tenants
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 | $59.4k | $19.80 |
| − Vacancy | −$3.7k | −$1.23 |
| EGI | $55.7k | $18.57 |
| − OpEx | −$25.1k | −$8.36 |
| NOI | $30.6k | $10.21 |
3,000 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$437.8K
$383.1K – $510.7K
NOI $30,644 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$791.5K
$692.6K – $923.4K
NOI $55,404 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,969
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multi-unit property with a mix of one-, three-, and four-bedroom apartments and up to 12 off-street parking spaces.
Where is this apartment building located?
The property is located at 518 Hudson Avenue Albany, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Multi‑unit property built in 1920 with a mix of one-, three-, and four‑bedroom apartments; Units include 3 one‑bedroom, 2 four‑bedroom, and 1 three‑bedroom apartment; All tenants are month‑to‑month, with many long‑term tenants
