14-Unit Apartment
New
For Sale
$1,100,000
921 Park Avenue, Albany, NY 12208
Residential Income, Albany, NY
Property Size6,756 SF
Lot Size0.13 Acres
Price / SF$162.82
Days on Market4
Property Features for 921 Park Avenue
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
14
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 4, Bedroom 6, Bathroom 1, Bedroom 7, Bathroom 2, Bedroom 10, Bathroom 3, Bedroom 11, Bathroom 7, Bedroom 5, Bathroom 5, Bedroom 13, Bedroom 9, Bedroom 3, Bedroom 4, Bathroom 6, Bedroom 2, Bedroom 1, Bedroom 14, Bedroom 8, Bedroom 12
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 64.59-1-94
Size
6,756 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
15351
Utilities
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1900
Number of units
7
Flooring type
Hardwood, Laminate, Linoleum, Tile
Building materials
Wood Siding, Vinyl Siding
Listing Agency:
Miranda Real Estate Group Inc
(518) 356-1701
Listed By:
Christine M Serafini · License #40SE0980789
(518) 514-8830
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 17 at 11:06AM
MLS# 12028378
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.
Offered together, the two adjacent apartment buildings contain 14 units, all configured as two-bedroom apartments. The properties are located in Albany’s Pine Hills neighborhood.
The buildings are fully occupied. Hospitals, colleges, and state offices are nearby, and the area is described as walkable.
The buildings are fully occupied. Hospitals, colleges, and state offices are nearby, and the area is described as walkable.
Key Highlights
- Two adjacent apartment buildings offered as one package
- 14 units across the package
- All units are two‑bedroom apartments
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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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 sale combines two neighboring buildings in Albany’s Pine Hills neighborhood.
Where is this apartment building located?
The property is located at 921 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: Two adjacent apartment buildings offered as one package; 14 units across the package; All units are two‑bedroom apartments
