14-Unit Apartment Building
New
For Sale
$1,100,000
917 Park Avenue, Albany, NY 12208
Two neighboring properties offer a fully occupied, all two-bedroom apartment mix.
Property Size6,756 SF
Price / SF$162.82
Days on Market5
Property Features for 917 Park Avenue
General Information
Standard status
Active
Size
6,756 SF
Property subtype
Multi-family
Occupancy
100%
Units
Unit Mix
14 x 2BR
Multifamily Units
14
Building Details
Year Built
1900
Buildings
2
Listing Agency:
Miranda Real Estate Group Inc
Listed By:
Christine M Serafini · License #40SE0980789
(518) 514-8830
Source:
Signatureonerealtygroup
Added: Oct 13
Changed: Oct 16
Last Checked: Oct 16 at 2:09PM
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 Miranda Real Estate Group Inc
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Albany package comprises two adjacent apartment buildings with 14 units, each configured as a two-bedroom apartment. The buildings contain a combined 6,756 square feet and date to 1900. All units are occupied.
The properties are located on Park Avenue in Albany’s Pine Hills area. The sale includes 917 Park Avenue and 921 Park Avenue as a package.
The properties are located on Park Avenue in Albany’s Pine Hills area. The sale includes 917 Park Avenue and 921 Park Avenue as a package.
Key Highlights
- 14 apartments across two adjacent buildings
- All 14 units are two‑bedroom apartments
- Fully occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,011
Cap Rate
6.27%
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 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,770 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
14
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Two neighboring properties offer a fully occupied, all two-bedroom apartment mix.
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 $1,100,000.
What are key features of this property?
This property features: 14 apartments across two adjacent buildings; All 14 units are two‑bedroom apartments; Fully occupied
