14-Unit Apartment
New
For Sale
$1,100,000
921 Park Ave, Albany, NY 12208
The fully occupied residential property is within walking distance of hospitals, colleges, and state offices.
Property Size6,756 SF
Price / SF$162.82
Days on Market2
Property Features for 921 Park Ave
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:
Next Chapter Real Estate Advisors
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Oct 16
Last Checked: Oct 16 at 6:44AM
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 Next Chapter Real Estate Advisors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The offering combines two adjacent apartment buildings with 14 units, all configured as two-bedroom residences. The buildings contain a combined 6,756 square feet and are fully occupied. The sale is structured as a package with the neighboring property at 917 Park Ave.
The property is in Albany’s Pine Hills area, with hospitals, colleges, and state offices within walking distance.
The property is in Albany’s Pine Hills area, with hospitals, colleges, and state offices within walking distance.
Key Highlights
- Two adjacent apartment buildings offered together with 14 units
- All 14 residences have two bedrooms
- Combined building area of 6,756 square feet
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.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The fully occupied residential property is within walking distance of hospitals, colleges, and state offices.
Where is this apartment building located?
The property is located at 921 Park Ave 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: Two adjacent apartment buildings offered together with 14 units; All 14 residences have two bedrooms; Combined building area of 6,756 square feet
