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 Market240
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 · License #30SC0782781
(518) 221-2949
Source:
Signatureonerealtygroup
Added: Mar 4
Changed: Oct 29
Last Checked: Oct 28 at 9:08AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$30,644
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$612,880
$612.9K
Cap Rate 7%
$437,771
$437.8K
Cap Rate 9%
$340,489
$340.5K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$59.4K $19.80/SF
− Vacancy
−$3.7K −$1.23/SF
EGI
$55.7K $18.57/SF
− OpEx
−$25.1K −$8.36/SF
NOI
$30.6K $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%
$612,880
Cap Rate 7%
$437,771
Cap Rate 9%
$340,489
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.
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Property Analytics
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Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,969
Businesses Nearby
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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?
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
