1879 Central Ave Albany, NY 12205
Estimated payment $4,041/month
Total Views
15,961
4
Beds
7
Baths
3,450
Sq Ft
$191
Price per Sq Ft
Highlights
- No HOA
- Forced Air Heating System
- 3 Car Garage
- Bathroom on Main Level
- Baseboard Heating
- Carpet
About This Home
Positioned along a high-visibility corridor in Colonie, this well-maintained mixed-use property delivers immediate cash flow with clear value-add upside. The asset features two street-level commercial spaces with long-term tenants, four one-bedroom apartments, one studio apartment, and a three-bay garage, all supported by ample off-street parking, a rare combination in this location! The building has been consistently rented, reflecting durable tenant demand. Current rents are below market, presenting a compelling opportunity for an investor to drive NOI through strategic rent optimization while maintaining stability. The roof was replaced approximately ten years ago and the studio was recently renovated. Total annual rents currently total $61,920 with yearly expenses around $15,000 making the NOI approx $46,920 and a 7.1% Cap rate! Coin Laundry washer and dryer on Premises!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,362
Year Built
- Built in 1956
Lot Details
- 9,583 Sq Ft Lot
- Lot Dimensions are 67' x147
Parking
- 3 Car Garage
- Open Parking
Home Design
- Block Exterior
- Vinyl Siding
Interior Spaces
- 3,450 Sq Ft Home
- Walk-Out Basement
Flooring
- Carpet
- Linoleum
- Vinyl
Bedrooms and Bathrooms
- 4 Bedrooms
- Bathroom on Main Level
Schools
- Colonie Central High School
Utilities
- No Cooling
- Forced Air Heating System
- Baseboard Heating
- Hot Water Heating System
Community Details
- No Home Owners Association
- 7 Units
Listing and Financial Details
- Legal Lot and Block 15.000 / 1
- Assessor Parcel Number 012689 29.10-1-15
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $7,771 | $157,600 | $66,000 | $91,600 |
| 2023 | $7,419 | $157,600 | $66,000 | $91,600 |
| 2022 | $7,063 | $157,600 | $66,000 | $91,600 |
| 2021 | $6,970 | $157,600 | $66,000 | $91,600 |
| 2020 | $6,832 | $157,600 | $66,000 | $91,600 |
| 2019 | $3,311 | $157,600 | $66,000 | $91,600 |
| 2018 | $6,886 | $157,600 | $66,000 | $91,600 |
| 2017 | $0 | $157,600 | $66,000 | $91,600 |
| 2016 | $6,629 | $157,600 | $66,000 | $91,600 |
| 2015 | -- | $157,600 | $66,000 | $91,600 |
| 2014 | -- | $157,600 | $66,000 | $91,600 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 01/25/2026 01/25/26 | Pending | -- | -- | -- |
| 01/15/2026 01/15/26 | For Sale | $659,900 | -- | $191 / Sq Ft |
Source: Global MLS
About the Listing Agent
Jennifer Mentiply is an experienced residential and commercial real estate broker and the broker-owner of Renovo Real Estate, based in Ballston Spa, NY. With 19 years in the industry, she has built a reputation for delivering expert advice and tailored solutions for commercial property buyers, sellers, and investors. Jennifer’s comprehensive knowledge of the local market, combined with her strategic approach, allows her to help clients maximize their investments, whether it’s through purchasing
Jennifer's Other Listings
Source: Global MLS
MLS Number: 202610677
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Local REALTOR® - Todd Siegel, Broker - (888)-952-6393
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