Four-Unit Residential Income
For Sale
$350,000
802 Myrtle Avenue, Albany, NY 12208
Four-unit quadplex with hardwood flooring, two currently vacant units, and individual metering for gas, electric, and water.
Property Size2,460 SF
Price / SF$142.28
Days on Market82
Property Features for 802 Myrtle Avenue
General Information
Standard status
Active
Size
2,460 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
4
Amenities
hardwood floors
individual gas and electric meters
individual water heaters
Building Details
Year Built
1935
Listing Agency:
Venture Fox Realty Group LLC
Listed By:
Sean Martin
(518) 639-4663
Source:
Signatureonerealtygroup
Added: May 11
Changed: Jul 26
Last Checked: Jul 30 at 6:43PM
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 Venture Fox Realty Group LLC
Investment Insights
Based on property information with market context.
This four-unit residential income property features hardwood floors throughout. The building includes four separate units, with two currently vacant units that may suit an owner-occupant setup. Each unit has its own gas and electric meter, along with a house meter, and individual water heaters. New kitchen appliances are noted in some units.
The property is located at 802 Myrtle Avenue in Albany, NY 12208, and is described as close to hospitals, universities, restaurants, and entertainment.
For practical use, the individually metered configuration supports separate utilities per unit, and the two available units provide flexibility for occupancy alongside rental income from the other units.
The property is located at 802 Myrtle Avenue in Albany, NY 12208, and is described as close to hospitals, universities, restaurants, and entertainment.
For practical use, the individually metered configuration supports separate utilities per unit, and the two available units provide flexibility for occupancy alongside rental income from the other units.
Key Highlights
- Four‑unit quadplex built in 1935 with hardwood floors throughout
- Two units currently vacant and available for owner occupancy
- Each unit has separate gas and electric meters, plus a house meter
Financial Insights For Multifamily LT 5
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 | $42.8k | $17.40 |
| − Vacancy | −$2.8k | −$1.13 |
| EGI | $40.0k | $16.27 |
| − OpEx | −$12.0k | −$4.88 |
| NOI | $28.0k | $11.39 |
2,460 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$400.2K
$350.2K – $466.9K
NOI $28,015 @ 7.0% cap · market cap 8.00%
Second Best
Apartment 5plus
$359.0K
$314.1K – $418.8K
NOI $25,128 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$649.0K
$567.9K – $757.2K
NOI $45,431 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,063
Businesses Nearby
Explore this area
Business Placement
Demographics for 12208, NY
22,118
Population
11,522
Households
1.9
Avg Household Size
34
Median Age
56%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
5,027
Density / Sq Mi
$69,505
Median Household Income
$39,268
Median Earnings
$1,291
Median Rent
$255,300
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?
Quadplex - Four-unit quadplex with hardwood flooring, two currently vacant units, and individual metering for gas, electric, and water.
Where is this quadplex located?
The property is located at 802 Myrtle Avenue Albany, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1935 with hardwood floors throughout; Two units currently vacant and available for owner occupancy; Each unit has separate gas and electric meters, plus a house meter
