Fully Occupied Four-Unit
For Sale
$549,000
55 Ten Broeck Street, Albany, NY 12210
Built in 1860, this separately metered four-unit rowhouse offers a 2BD/2BA and 2BD/1BA mix.
Property Size2,544 SF
Price / SF$215.80
Days on Market114
Property Features for 55 Ten Broeck Street
General Information
Standard status
Active
Size
2,544 SF
Property subtype
Multi-family
Occupancy
100%
Financials
Cap Rate
6.92%
Business Included
Yes
Additional Details
Multifamily Units
4
Building Details
Year Built
1860
Tenancy
Multi
Listing Agency:
Empire Real Estate Firm LLC
Listed By:
Sage Baltrusaitis · License #10401340935
(248) 506-0477
Source:
Signatureonerealtygroup
Added: Jul 9
Changed: Oct 29
Last Checked: Oct 28 at 8:32AM
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 Empire Real Estate Firm LLC
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Investment Insights
Based on property information with market context.
Built in 1860, this 2½-story painted brick rowhouse is configured as a fully occupied four-unit multifamily property. The unit mix includes two above-grade 2BD/2BA apartments and two 2BD/1BA garden-level units. Units are separately metered, with tenants paying their own utilities. The property’s current gross income is $62,370 per year, and all four units have been turned over within the past five years.
Situated on a quiet residential block in the Ten Broeck Triangle area, the property is described as steps from downtown, the Capitol, and Albany Med.
With the reported flood risk designation of Zone X and taxes paid current, this four-unit residence presents a straightforward income-producing configuration with a split between above-grade and garden-level homes.
Situated on a quiet residential block in the Ten Broeck Triangle area, the property is described as steps from downtown, the Capitol, and Albany Med.
With the reported flood risk designation of Zone X and taxes paid current, this four-unit residence presents a straightforward income-producing configuration with a split between above-grade and garden-level homes.
Key Highlights
- Built in 1860, 4‑unit multifamily rowhouse in Ten Broeck Triangle, steps from downtown, the Capitol, and Albany Med
- Unit mix: two above‑grade 2BD/2BA units plus two 2BD/1BA garden‑level units
- Fully occupied; all four units reportedly turned over within the past five years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,972
Cap Rate
5.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,440
$579.4K
Cap Rate 7%
$413,886
$413.9K
Cap Rate 9%
$321,911
$321.9K
Market Conditions
NOI Build-Up for 2,544 SF
Gross rent
$44.3K $17.40/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$41.4K $16.27/SF
− OpEx
−$12.4K −$4.88/SF
NOI
$29.0K $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%
$579,440
Cap Rate 7%
$413,886
Cap Rate 9%
$321,911
Alternative Uses
Best Use
Multifamily LT 5
$413.9K
$362.2K – $482.9K
NOI $28,972 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$371.2K
$324.8K – $433.1K
NOI $25,987 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$671.2K
$587.3K – $783.1K
NOI $46,983 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,082
Businesses Nearby
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Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Built in 1860, this separately metered four-unit rowhouse offers a 2BD/2BA and 2BD/1BA mix.
Where is this quadplex located?
The property is located at 55 Ten Broeck Street Albany, NY.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Built in 1860, 4‑unit multifamily rowhouse in Ten Broeck Triangle, steps from downtown, the Capitol, and Albany Med; Unit mix: two above‑grade 2BD/2BA units plus two 2BD/1BA garden‑level units; Fully occupied; all four units reportedly turned over within the past five years
