7-Unit Apartment
For Sale
$1,000,000
917 Park Avenue, Albany, NY 12208
Residential Income, Albany, NY
Property Size6,756 SF
Lot Size0.13 Acres
Price / SF$148.02
Days on Market24
Property Features for 917 Park Avenue
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
14
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 5, Bedroom 6, Bathroom 1, Bathroom 3, Bathroom 6, Bathroom 2, Bedroom 13, Bedroom 9, Bedroom 7, Bedroom 3, Bedroom 5, Bathroom 7, Bedroom 1, Bedroom 11, Bedroom 8, Bedroom 4, Bedroom 12, Bedroom 2, Bedroom 14, Bedroom 10, Bathroom 4
Parking features
Driveway
Patio and Porch features
Porch
High school district
000000
Directions
From Western Ave, turn onto S Main St then onto Park Ave.
Standard status
Active
APN
010100 64.59-1-93
Size
6,756 SF
Lot size
0.13 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
14810
Utilities
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1900
Number of units
7
Flooring type
Hardwood, Tile, Linoleum, Laminate
Building materials
Wood Siding, Vinyl Siding
Buildings
1
Listing Agency:
Miranda Real Estate Group Inc
Listed By:
Christine M Serafini · License #40SE0980789
(518) 356-1701
Added: Oct 14
Changed: Nov 6
Last Checked: Nov 6 at 12:06PM
MLS# 12028375
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 7-unit apartment property contains 6,756 square feet on a 0.13-acre parcel. Every unit has two bedrooms. The building dates to 1900 and has a porch, hardwood and other flooring, and hot-water heat fueled by natural gas. A boiler installed 10 years ago receives service twice each year, and the roof was replaced within the past three years. Residents pay their own electric costs; the owner covers heat. The property is fully occupied.
The Albany property is within walking distance of hospitals, colleges, and state offices. It may be sold together with the adjacent property at 921 Park Avenue.
The Albany property is within walking distance of hospitals, colleges, and state offices. It may be sold together with the adjacent property at 921 Park Avenue.
Key Highlights
- Seven two‑bedroom apartments in a 6,756‑square‑foot building
- Fully occupied; tenants pay electricity and the owner pays for heat
- 0.13‑acre parcel with driveway parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,011
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,380,220
$1.4M
Cap Rate 7%
$985,871
$985.9K
Cap Rate 9%
$766,789
$766.8K
Market Conditions
NOI Build-Up for 6,756 SF
Gross rent
$133.8K $19.80/SF
− Vacancy
−$8.3K −$1.23/SF
EGI
$125.5K $18.57/SF
− OpEx
−$56.5K −$8.36/SF
NOI
$69.0K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,380,220
Cap Rate 7%
$985,871
Cap Rate 9%
$766,789
Alternative Uses
Best Use
Apartment 5plus
$985.9K
$862.6K – $1.15M
NOI $69,011 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,770 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
884
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
$255,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Albany, NY
Properties on Market for Apartment buildings in Albany
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Each apartment has two bedrooms, and the property includes on-site driveway parking.
Where is this apartment building located?
The property is located at 917 Park Avenue Albany, NY.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Seven two‑bedroom apartments in a 6,756‑square‑foot building; Fully occupied; tenants pay electricity and the owner pays for heat; 0.13‑acre parcel with driveway parking
