Renovated Two-Unit
New
For Sale
$358,550
52-54 Southern Boulevard #2, Albany, NY 12209
Both residences offer three bedrooms and one full bathroom, with Multi Residence zoning.
Property Size2,176 SF
Price / SF$164.77
Days on Market3
Property Features for 52-54 Southern Boulevard #2
General Information
Standard status
Active
Size
2,176 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
Multi Residence
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,657
Building Details
Year Built
1927
Buildings
1
Listing Agency:
KW Platform
Listed By:
Abdul Wasey · License #10401382092
(838) 207-4471
Source:
Capmarkrealty
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 16 at 6:22AM
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 KW Platform
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 1927, this 2,176-square-foot duplex contains two residences, each with three bedrooms and one full bathroom. Renovation work includes new kitchens and bathrooms, fresh paint inside and out, and improvements to the basement. The property is zoned Multi Residence.
Key Highlights
- Two residences, each configured with 3 bedrooms and 1 full bathroom
- 2,176 square feet across the duplex
- Renovations include new kitchens and bathrooms, fresh interior and exterior paint, and an updated basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,781
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$495,620
$495.6K
Cap Rate 7%
$354,014
$354.0K
Cap Rate 9%
$275,344
$275.3K
Market Conditions
NOI Build-Up for 2,176 SF
Gross rent
$37.9K $17.40/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$35.4K $16.27/SF
− OpEx
−$10.6K −$4.88/SF
NOI
$24.8K $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%
$495,620
Cap Rate 7%
$354,014
Cap Rate 9%
$275,344
Alternative Uses
Best Use
Multifamily LT 5
$354.0K
$309.8K – $413.0K
NOI $24,781 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$317.5K
$277.8K – $370.5K
NOI $22,227 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$574.1K
$502.3K – $669.8K
NOI $40,186 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
596
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer three bedrooms and one full bathroom, with Multi Residence zoning.
Where is this duplex located?
The property is located at 52-54 Southern Boulevard #2 Albany, NY.
What is the asking price?
The asking price for this property is $358,550.
What are key features of this property?
This property features: Two residences, each configured with 3 bedrooms and 1 full bathroom; 2,176 square feet across the duplex; Renovations include new kitchens and bathrooms, fresh interior and exterior paint, and an updated basement
