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    38 Main Ave Albany, NY 12208

    Sponsored
    For Sale
    $2,427,000

    21-Unit Apartment Building, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 21-unit, five-story apartment building located at 38 S Main Avenue in Albany, New York, 12208. Priced at $2,427,000, this property boasts a strong rental history and is currently 100% occupied, offering immediate cash flow. The building features a convenient elevator and an attractive lobby and common area, enhancing tenant appeal. Its prime location offers easy access to key Albany attractions, including state Capital buildings, SUNY Albany, and major highways. The building's design is reminiscent of classic New York City apartment buildings. Tenants are responsible for their own utilities, while the landlord covers hot water and cable/internet expenses. This well-maintained property represents a compelling investment prospect in a thriving urban setting. The property is classified as both commercial and multifamily, offering a versatile investment opportunity. The building is situated in Albany County and benefits from its proximity to various amenities and transportation networks. This is a rare opportunity to acquire a fully occupied, high-performing multifamily asset in a desirable location. The building's strong occupancy rate and convenient amenities make it an attractive investment for both seasoned and new investors.

    Property Features for 38 Main Ave

    General Information

    Property type
    Multifamily properties

    HighLights

    • $2,427,000 asking price.
    • 21‑unit, 5‑story apartment building in Albany, NY.
    • Located in a prime location near Capital buildings, SUNY, and major highways.
    • 100% occupancy with a strong rental history.
    • Building features an elevator and attractive common areas.
    • Tenants pay utilities; landlord pays heat and cable/internet.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Westerly Apartment Building

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.7905775
    Latitude
    42.6626095

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    FAQs

    What type of property is this?
    Multifamily property - 21-Unit Apartment Building, Prime Location
    Where is this multifamily property located?
    The property is located at 38 Main Ave Albany, NY.
    What is the asking price?
    The asking price for this property is $2,427,000.
    What are key features of this property?
    This property features: $2,427,000 asking price.; 21-unit, 5-story apartment building in Albany, NY.; Located in a prime location near Capital buildings, SUNY, and major highways.
    Request Owner's contact information
    38 Main Ave Albany, NY 12208
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    38 Main Ave Albany, NY 12208
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