Four-Unit Income
802 Myrtle Avenue Albany, NY 12208
802 Myrtle Avenue, Albany, NY, 12208
$350,000
For Sale
$350,000
MULTI_FAMILY - Other - Albany, NY
Property Size2,460 SF
Lot Size0.12 Acres
Price / SF$142.28
Days on Market47
Property Features for 802 Myrtle Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Zoning
- Multi Residence
- Bedrooms
- 5
- Bathrooms
- 4
- Rooms
- Bedroom 3, Bedroom 1, Bedroom 5, Bedroom 4, Bathroom 3, Bathroom 2, Bathroom 1, Bathroom 4, Bedroom 2
- Patio and Porch features
- Porch
- Fencing
- Chain Link
- Basement
- Full, Walk-Out Access
- Standard status
- Active
- APN
- 010100 64.67-3-8
- Size
- 2,460 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Annual Amount
- 9000
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Hot Water(Heating)
- Water source
- Public
Building Details
- Year built
- 1935
- Number of units
- 4
- Flooring type
- Laminate, Tile, Hardwood
- Building materials
- Clapboard, Stucco
- Roof type
- Asphalt, Shingle, Slate
- Architectural style
- Other
Listing Agency
Venture Fox Realty Group LLC
(518) 290-1070
2390 Western Ave, Guilderland, NY
Listed by
Sean Martin · License #10401359018
(518) 932-5619
Added: Jun 4 Checked: Jul 20 at 5:06 am
MLS# 202618803
Listing URL
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 four-unit residential income property features hardwood floors throughout and four separate units configured for individual metering. Each unit has its own gas and electric meter, along with a house meter, and includes individual water heaters. Some units have updated kitchen appliances, supporting move-in readiness and straightforward maintenance planning.
The property is located at 802 Myrtle Avenue in Albany, NY 12208, within a Multi Residence zoning designation. Public remarks note proximity to hospitals, universities, restaurants, and entertainment, providing everyday tenant amenities and convenience.
From a tenant or owner-operator perspective, the combination of four separately metered units and available vacancies can reduce utility-sharing complexity and support flexible occupancy planning. With two vacant units, an owner has the option to occupy one while continuing to lease the remaining space, or to lease both vacant units to maintain full income potential. The property’s residential income structure and individualized systems make it suitable for buyers seeking a manageable multi-unit setup in Albany.
The property is located at 802 Myrtle Avenue in Albany, NY 12208, within a Multi Residence zoning designation. Public remarks note proximity to hospitals, universities, restaurants, and entertainment, providing everyday tenant amenities and convenience.
From a tenant or owner-operator perspective, the combination of four separately metered units and available vacancies can reduce utility-sharing complexity and support flexible occupancy planning. With two vacant units, an owner has the option to occupy one while continuing to lease the remaining space, or to lease both vacant units to maintain full income potential. The property’s residential income structure and individualized systems make it suitable for buyers seeking a manageable multi-unit setup in Albany.
Key Highlights
- 1935‑built 4‑unit property with clapboard and stucco construction
- Each unit has its own gas and electric meter, plus individual water heaters for each unit
- Public water and public sewer service
Local 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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four units with separate gas and electric metering, with two currently vacant for owner occupancy or continued leasing.
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: 1935‑built 4‑unit property with clapboard and stucco construction; Each unit has its own gas and electric meter, plus individual water heaters for each unit; Public water and public sewer service
