160 Myrtle Ave Albany, NY 12202
- Commercial real estate
- 57,955 SF
- 1.34 lot acres
Current Use by Public Records
- @HudsonPark / Apartment Complex
- Cristhian Astorga / Real Estate Agent
- Affordable Dental Implants / Dentist
Property Details for 160 Myrtle Ave
- Lot size
- 1.34 lot acres
- Property size
- 57,955 SF
- Property type
- Commercial real estate
Description
This exceptional 77-unit apartment building, located at 160 Myrtle Ave in Albany, NY, presents a compelling investment opportunity. Boasting 57,955 square feet across three stories, this property offers a compelling 4.85% cap rate and is currently 96.1% occupied. Completely gut renovated in 2019, this historic brewery conversion features modern amenities including a fitness center, community lounge, laundry facilities, pet grooming center, and interior bike storage. The property includes 39 on-site surface parking spaces and benefits from its prime downtown location, directly across from the 68-acre Lincoln Park, steps from the New York State Capitol, Empire State Plaza, and Lark Street's vibrant dining and entertainment scene. Its proximity to Albany Medical Center and Albany Law School further enhances its appeal. The property sits on a 1.34-acre lot and is zoned R-M. The asking price is $14,500,000, representing $188,000 per unit. Attractive assumable financing is available. This is a rare opportunity to acquire a high-performing, well-maintained multifamily asset in a thriving urban core.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Albany
- State
- New York
- Longitude
- -73.7656447
- Latitude
- 42.6482502
