4 Central Ave - Apartments FOR SALE


Albany, NY 12210- Central Avenue
$6,500,000 USD
631-487-5623
4 Central Ave, Albany, NY for Sale
$6,500,000 USD
Apartments - FOR SALE
1/9
null | 6.57% Cap Rate

4 Central Ave
Albany, NY 12210
Central Avenue


HIGHLIGHTS

  • Below market debt and long-term tax deal delivering superior Cash on Cash returns
  • Recent renovations limiting capEx
  • Value-add opportunities
  • Major employers and strong economic drivers
  • Strategically located in the heart of Albany
  • Commuter friendly location with on site parking

OVERVIEW

The New York family team is pleased to offer Lofts at Washington Park Outside NYC, a 36 unit Multifamily Property at neighborhood for 6,500,000Originally constructed in 1900, 4 Central Ave has been thoughtfully repurposed from an office building into a modern, mixed-use property featuring 36 one-bedroom apartments and ground-floor retail space along Central Ave. Each apartment has been upgraded with a full stainless steel kitchen appliance package, granite or quartz countertops, and in-unit washers and dryers. Additionally, tenants enjoy access to a lower-level lounge and convenient on-site parking available on Sherman Street, further enhancing the property’s appeal and accessibility. Lofts at Washington Park is a well-maintained asset that has benefited from continued stability and growth in the Capital District. Located in downtown Albany, the Lofts at Washington Park offers unparalleled proximity to major employers, top educational institutions, and recreational amenities. The property is just minutes from New York State government offices, Albany Medical Center, and corporate headquarters, providing convenient access for working professionals. Nearby universities, including SUNY Albany, and Albany Law School, ensure strong demand from students and faculty. Residents also enjoy easy access to local parks and green spaces, creating a balanced urban lifestyle that combines work, study, and recreation.

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$126 USD /SF

# OF UNITS

36

PRICE/UNIT

$180,556

CAP RATE

6.57%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Lofts at Washington Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2020

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

C1

APN/PARCEL ID

010100-065-080-0002-024-000-0000

ASK ABOUT THIS PROPERTY

Matthew GaultMarcus & MillichapMore Info
631-487-5623

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Matthew GaultMarcus & MillichapMore Info
631-487-5623

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.