Pine Hills Multifamily Updated
835 Lancaster Street, Albany, NY 12203
MULTI_FAMILY - Other - Albany, NY
Property size:
2,190 SFLot size:
0.15 Acres- Added:
- Mar 28, 2026
- Days on Market:
- 51
- Last Refresh:
- May 17 at 5:06 am
Property Features for 835 Lancaster Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Multi Residence
- Bedrooms
- 7
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bedroom 7, Bedroom 6, Bathroom 1, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1
- Parking
- 8
- Parking features
- Garage, Off Street, Open
- Window features
- Insulated Windows
- Patio and Porch features
- Deck
- Interior features
- Ceramic Tile Bath
- Exterior features
- Garden
- Fencing
- Privacy
- Basement
- Walk-Out Access, Full, Exterior Entry
- Standard status
- Pending
- APN
- 010100 64.51-3-51
- Size
- 2,190 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Annual Amount
- 7766
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating), Radiant, Natural Gas
- Cooling system
- Wall Unit(s), Ductless
- Water source
- Public
Building Details
- Year built
- 1920
- Number of units
- 2
- Flooring type
- Tile, Hardwood
- Building materials
- Vinyl Siding
- Roof type
- Asphalt
- Architectural style
- Other
Listing agent Christopher S Lessard License #40LE0953515 (518) 364-1105
Listing office Staged Nest Real Estate LLC 578 New Loudon Rd, Latham, NY (518) 369-8441
Listing date Mar 28, 2026
MLS# 202614073
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.
HighLights
- Two‑family property with two additional parcels included.
- Turnkey condition with consistent updates throughout.
- Separate utilities for each unit, including gas hot water radiators and ductless AC splits.
- Two‑car detached garage and ample off‑street parking.
- Generous composite deck with covered outdoor space and access to a spacious yard.
- Convenient location with easy access to public transportation, highways, and amenities.
Overview
This multifamily property is located in the Pine Hills neighborhood and includes two additional parcels. The turnkey property has been consistently updated. The first floor unit features two bedrooms, a living room/dining area, hardwood floors, and an updated bath. The second unit occupies the second and third floors, offering five bedrooms and two full baths, with hardwood floors throughout and updated baths. Each unit has separate utilities, gas hot water radiators for heat, and ductless splits for AC. A composite deck provides covered outdoor space for the first and second floors, with access to the spacious yard. There is a two-car detached garage and off-street parking. The basement has its own entry. The property is centrally located with easy access to public transportation, highways, eateries, and the library. The lot size is 0.15 acres and the property size is 2190 square feet.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$277.1K
NOI $24,940 @ 9.00% cap · cautious / downside scenario
Moderate
$356.3K
NOI $24,940 @ 7.00% cap · market / base-case scenario
Aggressive
$498.8K
NOI $24,940 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.1k | $17.40 |
| − Vacancy | −$2.5k | −$1.13 |
| EGI | $35.6k | $16.27 |
| − OpEx | −$10.7k | −$4.88 |
| NOI | $24.9k | $11.39 |
2,190 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$356.3K
$311.8K – $415.7K
NOI $24,940 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$319.6K
$279.6K – $372.8K
NOI $22,370 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$577.8K
$505.6K – $674.1K
NOI $40,445 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Albany
- State
- New York
- Longitude
- -73.788728
- Latitude
- 42.668566
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Updated two-family property with additional parcels and detached garage.
Where is this duplex located?
The property is located at 835 Lancaster Street Albany, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑family property with two additional parcels included.; **Turnkey condition with consistent updates throughout.**; Separate utilities for each unit, including gas hot water radiators and ductless AC splits.
