Albany Properties between $500,000 and $600,000 for Sale

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Newest Albany Properties between $500,000 and $600,000 for Sale

$550,000

9 Beds ⋅ 5 Baths ⋅ 202625663 MLS

A rare opportunity to own an exceptional five-unit Victorian property in Albany's highly desirable Pine Hills neighborhood, offered for the first time in more than half a century of family ownership. Spanning over 6,377 square feet and situated on an impressive .66-acre lot, this remarkable property offers a rare combination of historic character, substantial living space, and exceptional investment potential. The property features four 2-bedroom, 1-bath units and one 1-bedroom plus den, 1-bath unit, with four of the five units currently rented. Beautiful hardwood floors throughout much of the building complement the property's timeless architectural character, while valuable updates and amenities include separate electric and gas meters, coin-operated laundry, and a brand-new boiler and hot water heater installed as part of the 2025 heating system upgrade. The generous .66-acre lot is a rare offering for this location, providing a private backyard and an exceptional outdoor amenity for a multifamily property. Ideally situated in the heart of Pine Hills, the property offers convenient access to area colleges and universities, hospitals, restaurants, shopping, public transportation, and downtown Albany- making it an attractive opportunity for both investors and tenants alike. All Rental Occupancy Permits (ROPs) are current. A truly rare opportunity to acquire a distinguished Victorian five-unit property of this scale, character, and setting in one of Albany's most sought-after neighborhoods. Whether you're looking to add a income-producing property to your portfolio or capitalize on the potential of the vacant unit, 141 S Allen Street presents a truly unique opportunity in one of Albany's most convenient and sought-after locations.

141 S Allen Street

$529,000

4 Beds ⋅ 4 Baths ⋅ 202624599 MLS

Welcome to this beautifully maintained fully occupied 4 Unit, ideally located in the heart of Albany. Each spacious full-floor unit showcases original architectural details throughout, including stunning marble mantels which highlight the home's historic character. Thoughtful updates enhance both style and functionality, with remodeled kitchens and baths featuring granite countertops, updated flooring, a rubber roof, newer windows, hot water tanks, and much more. The property has also been freshly painted and offers separate utilities for added ease. Conveniently located in the highly sought-after Center Square, Hudson Park, and Washington Park neighborhoods. Just minutes from the State Capitol, downtown government and legislative buildings, Albany Medical Center, Albany Law School, SUNY, as well as restaurants, galleries, and local shops. Ideal for investors seeking a strong addition to their portfolio. Do not miss this rare opportunity in an exceptional location.

137 Lancaster Street

$539,000

4 Beds ⋅ 4 Baths ⋅ 202624598 MLS

Welcome to this beautifully maintained fully occupied 4 Unit, ideally located in the heart of Albany. Each spacious full-floor unit showcases original architectural details throughout, including soaring cathedral ceilings, original fireplaces, crown molding, mantels, hardwood floors throughout, stained glass windows and much more, highlighting the home's historic character. The property offers separate utilities for added ease. Conveniently located in the Washington Park neighborhoods. Just minutes from the State Capitol, downtown government and legislative buildings, Albany Medical Center, Albany Law School, SUNY, as well as restaurants, galleries, and local shops. Ideal for investors seeking a strong addition to their portfolio. Do not miss this rare opportunity in an exceptional location.

221 Lancaster Street

$550,000

202623657 MLS

Great investment opportunity! Endless possibilities. Pizzeria on the very desirable Everett Road. Updates include (2) 1200 gallon grease traps, new electrical panel. Tenant to remain. Property has 30 parking spaces with ability to keep as pizzeria or change to office/retail. COR Zoning

109 Everett Road

$589,000

5 Beds ⋅ 4 Baths ⋅ 202622175 MLS

Beautifully curated three-story townhome situated along one of downtown Albany's most coveted city blocks includes completely separate garden unit that's currently being used on a short term basis, legal 2-family. Spanning over 3,200 SQFT across four aesthetically pleasing levels, this residence features 5 bedrooms, 4 full baths, modern amenties throughout, privates oasis-like backyard with trex decking, roof access & more. Easily accessible to Washington Park, Albany Medical Center/St. Peter's Hospital, SUNY Albany, Lark St, downtown state & legislative entities, coffee shops, galleries, nightlife & so many more desirable downtown attractions. Original details still adorned throughout such as high ceilings, oversized windows, tile, fireplaces, stained glass, built ins, woodwork, etc. A rare trophy residence--where gilded architecture meets flawless modern execution--offering a once-in-a-generation opportunity in the heart of Center Square.

142 Chestnut Street

$599,000

8 Beds ⋅ 6 Baths ⋅ 202622021 MLS

Rare opportunity to acquire a fully occupied 4-unit multifamily in one of Albany's most sought-after historic neighborhoods -- Ten Broeck Triangle. Built in 1860, this 2½-story painted brick rowhouse sits on a quiet residential block steps from downtown, the Capitol, and Albany Med. All four units have been turned over within the past five years -- no long-entrenched below-market leases, clean tenant base, fresh start for a new owner. Unit mix: two above-grade 2BD/2BA units plus two 2BD/1BA garden-level units. Separately metered -- tenants pay their own utilities, keeping owner expenses lean. Current gross income $62,370/year with immediate upside. Priced at $599,000 at a 6.92% cap rate on normalized expenses. Taxes paid current. Zone X minimal flood risk. Strong rental demand in this corridor with consistent low vacancy history. Whether you're adding to an existing Albany portfolio or entering the market, this one pencils from day one with room to run. Full OM and financials upon request!

55 Ten Broeck Street

$599,000

13 Beds ⋅ 6 Baths ⋅ 202620241 MLS

Are you looking for an investment with a serious net income? This cash cow NETS over $62,000! All month to month tenants, with many long term tenants. 3 -One bedroom units, 2- Four bedroom units and 1- Three bedroom unit. Plenty of off street parking with up to 12 off street parking spaces. Convenient location, close to downtown, colleges, busline, with shopping and dining just around the corner!

518 Hudson Avenue

$550,000

10 Beds ⋅ 4 Baths ⋅ 202619760 MLS

Excellent investment opportunity on one of Albany's most desired neighborhoods with monthly rents totaling $5,425. This fully renovated & well-maintained four-unit property features separate utilities, helping minimize owner expenses and maximize cash flow. Located in a strong rental market near Albany's hospitals, colleges, downtown employers, restaurants, and public transportation, the property offers consistent tenant demand and long-term investment potential. Whether you're looking to expand your portfolio or acquire your first multifamily asset, this quadplex provides a solid foundation with multiple income streams and efficient operations. Don't miss the chance to own a turnkey investment property in the heart of Albany. Can be packaged with 211 Quail Street.

360 Madison Avenue

$600,000

3 Beds ⋅ 4 Baths ⋅ 202619080 MLS

Very rare opportunity to own a unique duplex in Albany's highly desirable Center Square neighborhood. Technically comprised of two separately deeded condominiums, 149 Lancaster Street is being offered as a duplex, providing flexibility for investors and owner-occupants alike. The property features spacious living areas, abundant natural light, and the historic character that makes Center Square so sought after. Unit 1 is a massive 1 bedroom/ 1.5 bathroom with an exceptional garden & outdoor space. Unit 2 is equally as grand but with 2 bedrooms/ 1.5 bathrooms and rooftop deck perfect for firework spectating. Both units to be delivered vacant. Located just steps from Washington Park, Lark Street, Albany Medical Center, restaurants, shops, and downtown Albany, this property offers exceptional walkability and strong rental demand. Continue operating as a duplex or explore the benefits of the existing condo structure. A rare chance to own a versatile income-producing property in one of Albany's premier neighborhoods

149 Lancaster Street

$584,000

5 Beds ⋅ 3 Baths ⋅ 202616473 MLS

Unique Tudor style townhouse in Albany's historic Center Square neighborhood! First floor features gracious entry, formal living and dining rooms with original built-ins, updated kitchen with solid surface countertops, and glass garden room that can be used in a variety of ways. 2nd and 3rd floors have 5 spacious bedrooms and 2 full baths. Walk-up attic is great for storage. Mini-splits (A/C & heat) on each floor Multi-tiered deck overlooks perennial garden. Taxes do not reflect a STAR exemption.

140 Chestnut Street

$545,000

4 Beds ⋅ 3 Baths ⋅ 202614479 MLS

Spacious Victorian townhome in Albany's Center Square neighborhood is ''turn key''. Tasteful updates and modern amenities blend nicely with the numerous historic architectural details that remain. The large living room, with period crown moldings, beautiful mantle mirror and marble fireplace, opens into a dining area and updated eat-in kitchen. A perfect floor plan for entertaining!! Large 2nd floor bedroom has charming bay window, gas stove and spacious closet. Washer/dryer conveniently located on second floor. Antique lighting fixtures throughout first and second floor!! Newly renovated basement level is currently being used by owners as additional living space but may be easily converted to an income apartment if desired. Beautifully landscaped back yard. New heat/hot water system (Gas Fired - 2 Zone Laars Mascot 95% Combination Boiler/Hot Water Heater). Neighborhood residential parking permit is $20/year. Property tax includes garbage pickup fee for 2 units ($360/year). School tax does not reflect STAR exemption. Below Grade Finished Area (Garden Level) has been added to Above Grade Finished Area For Total Finished Area of 2,712 sq.ft.

165 Lancaster Street

$589,000

6 Beds ⋅ 4 Baths ⋅ 202614261 MLS

PRICE IMPROVEMENT ** Award-Winning 4-Unit in Historic Ten Broeck Triangle** Experience a blend of 19th-century elegance and modern peace of mind at 79 Ten Broeck Street. Originally built in 1872 for James Martin, this stately brick brownstone stands as a testament to Albany's rich architectural history and has been meticulously maintained to the highest standards. **Property Highlights** Proven Quality: Recipient of the *2019 Historic Albany Foundation Preservation Initiative Award* for its comprehensive and thoughtful rehabilitation. Safety & Infrastructure: Fully updated with a complete sprinkler system throughout the building--a rare and valuable safety feature for historic multi-families. Meticulous Interiors: The building is in excellent shape, featuring soaring ceilings, exposed brick walls, and beautifully refinished original wide-plank wood floors that radiate character. Turn-Key Operation: Home to great, reliable tenants who care for their spaces. The property is truly ''plug and play'' for a savvy investor or an owner-occupant looking for a sophisticated urban lifestyle. Investment Potential While the property is currently fully leased and generating steady income, the rents are currently below market value. This provides a clear path for immediate equity growth and increased cash flow through strategic adjustments. Location: The Historic Ten Broeck Triangle Nestled in one of Albany's most charming and historic districts, 79 Ten Broeck is just steps away from: * The vibrant dining and entertainment of Downtown Albany and the Palace Theatre. * Easy commutes to the Capitol, SUNY Albany, and major hospital hubs. Whether you are looking to expand your portfolio with a trophy asset or start your investment journey, this building offers the perfect marriage of historic soul and modern mechanical reliability. Don't miss the chance to own a piece of Albany's history. Contact Craig Cioffi today.

79 Ten Broeck Street

$575,000

3 Baths ⋅ 202613128 MLS

Prime mixed-use investment opportunity in the heart of Downtown Albany! Located at 165 Madison Avenue, Albany, NY, just steps from the New York State Capitol and minutes from MVP Arena, this beautifully renovated 3,272 sq ft brick building offers exceptional visibility and long-term income potential in one of the city's most rapidly revitalizing corridors. Fully renovated in 2022 with high-end finishes, this two-story mixed-use property features a turn-key restaurant space on the first floor with approximately 2,022 sq ft of retail/dining area, complete with a full commercial kitchen, 6-burner stove, commercial exhaust hood, dedicated employee and customer restrooms, dining area with entertainment stage, and both front and rear entrances. Ideal for owner-operators or investors seeking a ready-to-run restaurant, tavern, café, or retail concept. The second floor includes a turn-key 2-bedroom apartment with strong rental potential, estimated at $2,000/month, providing additional income and flexibility for owner occupancy or leasing.Situated in a high-demand downtown corridor near the Capitol district, with major revitalization projects underway in surrounding buildings, this property offers both immediate usability and strong future appreciation potential. Perfect for owner-users, restaurateurs, or mixed-use investors seeking a strategic Albany location with built-in income and strong growth prospects. Financials available with signed NDA. Showings by appointment only with 24-hour notice. Qualified buyers and proof of funds required.

165 Madison Avenue

$599,000

2 Beds ⋅ 5 Baths ⋅ 202612819 MLS

Mixed-Use Opportunity in Historic Albany! Welcome to 204 Lancaster Street, a well-located mixed-use building offering flexibility and versatility. This historic property features a ground-floor retail space with strong street presence, currently operated as a tailor shop, and suitable for a wide variety of commercial uses. Above the storefront are two residential apartments. Situated in a vibrant Albany neighborhood with steady foot and vehicle traffic, this property is ideal for investors or owner-occupants seeking a combination of commercial and residential use. The property has seen significant recent capital improvements totaling over $25,000, including a new commercial central air conditioning system, a new rubber roof, and a brand new hot water tank -- providing buyers with peace of mind and minimal near-term capital expenditure requirements. A unique opportunity to own a versatile, well-maintained building in one of Albany's established corridors. Tailor inventory can be purchased separately or included with the sale of the property.

204 Lancaster Street

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