160 Myrtle AveAlbany, NY 12202

For Sale
$14,500,000

77-unit apartment building, high occupancy.

Overview

Added:
Dec 11, 2024
Days on market:
94
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.

Highlights

  • Completely renovated historic brewery (2019).
  • Downtown Albany location.
  • Across from 68-acre Lincoln Park.
  • Near Lark Street and Washington Park.
  • Abundant nearby restaurants and entertainment.
  • Short walk to NY State Capitol and Empire State Plaza.

Property Details for 160 Myrtle Ave

Property type
Multifamily properties, Apartment buildings
Square Feet
57,955 SF
Year Renovated
2019
Stories
3
Lot Size (sq. ft)
58,370 SF
Units
77

Location Insight

City
Albany
County
Albany
State
New York
Latitude
42.6482502
Longitude
-73.7656447
160 Myrtle Ave, Albany, New York

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160 Myrtle Ave
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