Three-Unit Multifamily
For Sale
$429,000
Pending
669 Washington Avenue, Albany, NY 12206
MultiFamily, Albany, NY
Property Size3,070 SF
Lot Size0.09 Acres
Days on Market245
Property Features for 669 Washington Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 7, Bathroom 1, Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 6, Bedroom 1, Bedroom 3, Bedroom 5
Parking
4
Parking features
Garage, Driveway
Patio and Porch features
Porch
Interior features
Paddle Fan
Basement
Exterior Entry, Interior Entry, Full
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Heading east on Washington Ave. towards Albany, past Main Ave, house is on the left side, directly in front of Albany HS. Heading west on Washington Ave., past Partridge St., the house is on the right side, directly in front of Albany HS.
Standard status
Pending
APN
010100 65.45-3-42
Size
3,070 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
9715
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1900
Number of units
3
Flooring type
Carpet, Linoleum, Hardwood
Building materials
Aluminum Siding, Vinyl Siding
Listing Agency:
All in 1 Realty Services LLC
(518) 608-5262
Listed By:
Armando Valdes · License #10401328120
(518) 269-0789
Added: Jan 12
Changed: Sep 12
Last Checked: Sep 14 at 6:06PM
MLS# 202610557
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.
Investment Insights
Based on property information with market context.
This three-unit multifamily property contains 3,070 square feet on a 0.09-acre lot. The building includes seven bedrooms and three bathrooms, with kitchens, living areas, and bedrooms distributed among the apartments. Interior finishes include carpet, linoleum, and hardwood flooring, while aluminum and vinyl siding cover the exterior. A porch, garage, and driveway provide additional property features. The structure was built in 1900 and is heated by natural gas through a hot water system.
Located at 669 Washington Avenue in Albany, the property has access to public water and public sewer. The surrounding area includes shopping, dining, schools, hospitals, and major highways, according to the provided property information.
Located at 669 Washington Avenue in Albany, the property has access to public water and public sewer. The surrounding area includes shopping, dining, schools, hospitals, and major highways, according to the provided property information.
Key Highlights
- Three‑unit multifamily property with 3,070 square feet of building area
- Seven bedrooms and three bathrooms across the property
- 0.09‑acre lot with garage and driveway parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,962
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$699,240
$699.2K
Cap Rate 7%
$499,457
$499.5K
Cap Rate 9%
$388,467
$388.5K
Market Conditions
NOI Build-Up for 3,070 SF
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.
Gross rent
$53.4K $17.40/SF
− Vacancy
−$3.5K −$1.13/SF
EGI
$49.9K $16.27/SF
− OpEx
−$15.0K −$4.88/SF
NOI
$35.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$699,240
Cap Rate 7%
$499,457
Cap Rate 9%
$388,467
Alternative Uses
Best Use
Multifamily LT 5
$499.5K
$437.0K – $582.7K
NOI $34,962 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$448.0K
$392.0K – $522.7K
NOI $31,359 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$810.0K
$708.7K – $945.0K
NOI $56,697 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,512
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three apartments feature separate utilities, practical layouts, and garage and driveway parking.
Where is this triplex located?
The property is located at 669 Washington Avenue Albany, NY.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 3,070 square feet of building area; Seven bedrooms and three bathrooms across the property; 0.09‑acre lot with garage and driveway parking
