NOT LISTED FOR SALE

574 Central Ave Albany, NY 12206

Upper Washington Avenue Neighborhood

Estimated Value: $665,030

16 Beds
7 Baths
8,275 Sq Ft
$80/Sq Ft Est. Value

Last Sold July 08, 2024

Last sale price $625,000 $76 Per Sq Ft

Est. 6% increase in value since last sale

Current estimated payment $4,937/month

68 Days on Market

Highlights

  • Wood Flooring
  • Bathroom on Main Level
  • 4-minute walk to Colby Park
  • No HOA
  • Baseboard Heating

About This Home

As of July 2024

Fully-occupied 7-Unit Brick building with great cash flow. Gross annual rental income $79,800. Updated windows and flooring. Great rental income and location!

Last Agent to Sell the Property

Luke Khachadourian

KW Platform License #10301219050 Listed on: 12/20/2023

KW Platform

Co-Listed By

Jordan Brustle

KW Platform License #10401352004

Last Buyer's Agent

Michael Rizk

New Scotland Realty License #10401379639

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,749

Year Built

  • Built in 1900

Lot Details

  • 3,485 Sq Ft Lot

Home Design

  • 8,275 Sq Ft Home
  • Brick Exterior Construction
  • Rubber Roof
  • Vinyl Siding

Flooring

  • Wood
  • Ceramic Tile
  • Vinyl

Bedrooms and Bathrooms

  • 16 Bedrooms
  • Bathroom on Main Level
  • 7 Full Bathrooms

Schools

  • Albany High School

Utilities

  • Heating System Uses Natural Gas
  • Baseboard Heating
  • Hot Water Heating System

Additional Features

  • Unfinished Basement

Community Details

  • No Home Owners Association
  • 7 Units

Listing and Financial Details

  • Legal Lot and Block 8.00 / 3
  • Assessor Parcel Number 010100 65.37-3-8

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,749

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Type: MultiFamily
  • Property Sub Type: 5+ Units
  • Zoning: Mixed
  • Year Built: 1900
  • Directions: From Central Ave to North Main Street
  • Above Grade Finished Sq Ft: 8275.0
  • Architectural Style: Apartment 4 Plus Unit
  • Lot Size Acres: 0.08
  • Sale Detail Seller Contribution: No
  • Co List Office Mls Id: o2015A
  • Co List Office Phone: 518-724-5800
  • Flooring:Hardwood: Yes
  • Flooring:Ceramic Tile: Yes
  • Flooring:Vinyl: Yes
  • Special Features: None

Interior Features

  • Flooring: Vinyl, Ceramic Tile, Hardwood
  • Basement: Unfinished
  • Full Bathrooms: 7
  • Total Bedrooms: 16
  • Living Area: 8275.0
  • Bathroom Levels Full Bathroom 1: 1st
  • Bathroom Levels Full Bathroom 2: 1st
  • Bathroom Levels Full Bathroom 3: 1st
  • Bathroom Levels Full Bathroom 4: 2nd
  • Bathroom Levels Full Bathroom 5: 2nd
  • Bathroom Levels Full Bathroom 6: 3rd
  • Bathroom Levels Full Bathroom 7: 3rd
  • Basement:Unfinished: Yes

Exterior Features

  • Exterior Features: None
  • Roof: Rubber
  • Construction Type: Brick, Vinyl Siding
  • Fencing: None
  • Waterfront: No
  • Construction Materials:Vinyl Siding: Yes
  • Exterior Features:None37: Yes
  • Construction Materials:Brick: Yes

Garage/Parking

  • Open Parking: No
  • Property Detail:Parking YN: No

Utilities

  • Sewer: Public Sewer
  • Heating: Baseboard, Hot Water, Natural Gas
  • Water Source: Public
  • Heating Yn: Yes
  • Heating:Baseboard: Yes
  • Heating:Hot Water: Yes
  • Heating:Natural Gas2: Yes

Condo/Co-op/Association

  • Association: No

Association/Amenities

  • Parcel Tax HOA:Association YN: No

Schools

  • Junior High Dist: Albany

Lot Info

  • Parcel #: 010100 65.37-3-8
  • Lot Size Sq Ft: 3484.8
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Annual Amount: 20749.0
  • Tax Block: 3
  • Tax Lot: 8.00

Multi Family

  • Number Of Units Total: 7

MLS Schools

  • HighSchool: Albany

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 20, 2023
Closed on
Jul 8, 2024
Sold by
Varughese Rex
Bought by
574 Central Avenue Llc
Seller's Agent
Luke Khachadourian
KW Platform
Buyer's Agent
Michael Rizk
New Scotland Realty
List Price
$650,000
Sold Price
$625,000
Premium/Discount to List
-$25,000
-3.85%
Views
103
Current Estimated Value
$665,030

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$40,030
Avg. Annual Appreciation
4.57%
Original Mortgage
$478,125
Outstanding Balance
$471,510
Interest Rate
6.95%
Mortgage Type
New Conventional
Estimated Equity
$193,520

Purchase Details

Closed on
Dec 1, 2022
Sold by
Varughese Rex
Bought by
Sherwood Timothy

Purchase Details

Closed on
Mar 7, 2022
Sold by
Karamvelil Varughese George and Karamvelil Mariamma
Bought by
Varughese Rex

Purchase Details

Closed on
Aug 9, 2006
Sold by
574 Central Ave Associate S Llc
Bought by
Varghese George Karamuelil

Purchase Details

Closed on
Jul 28, 2006
Sold by
574 Central Avenue Associates Llc
Bought by
Varghese George Karamuelil and Varghese Mariamma

Purchase Details

Closed on
Dec 9, 2002
Sold by
Normandin Gerald J
Bought by
574 Central Av. Associate S Llc
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
574 Central Avenue Llc -- None Listed On Document
Sherwood Timothy $158,000 --
Varughese Rex -- None Listed On Document
Varghese George Karamuelil $425,000 Nicholas J Jr Bruno
Varghese George Karamuelil $425,000 None Available
574 Central Av. Associate S Llc -- John J Jr Teliska
574 Central Av. Associate S Llc -- John J Jr Teliska
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 574 Central Avenue Llc $478,125
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/08/2024 07/08/24 Sold $625,000 -3.8% $76 / Sq Ft
02/26/2024 02/26/24 Pending -- -- --
12/20/2023 12/20/23 For Sale $650,000 -- $79 / Sq Ft
Source: Global MLS

Tax History Compared to Growth

Source: Public Records

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 $17,224 $447,200 $7,000 $440,200
2023 $20,450 $391,000 $5,000 $386,000
2022 $20,923 $391,000 $5,000 $386,000
2021 $20,464 $391,000 $5,000 $386,000
2020 $19,928 $391,000 $5,000 $386,000
2019 $15,394 $391,000 $5,000 $386,000
2018 $18,982 $391,000 $5,000 $386,000
2017 $8,746 $391,000 $5,000 $386,000
2016 $15,521 $391,000 $5,000 $386,000
2015 -- $391,000 $7,000 $384,000
2014 -- $391,000 $7,000 $384,000
Source: Public Records

Agents Affiliated with this Home

  • Luke Khachadourian

    Seller's Agent in 2024

    Luke Khachadourian

    KW Platform

    (518) 724-5800

    5 in this area

    148 Total Sales

    Luke Khachadourian
    Section Image
  • Jordan Brustle

    Seller Co-Listing Agent in 2024

    Jordan Brustle

    KW Platform

    (518) 308-5155

    2 in this area

    104 Total Sales

    Jordan Brustle
    Section Image

  • M

    Buyer's Agent in 2024

    Michael Rizk

    New Scotland Realty

    (518) 810-7289

    1 in this area

    22 Total Sales

    Michael Rizk
    Section Image
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Map

Source: Global MLS

MLS Number: 202329828

Global MLS

APN: 010100-065-037-0003-008-000-0000

New York Albany County Albany 12206 Upper Washington Avenue

574 Central Ave, Albany, NY

Not Listed for Sale

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