55 Ten Broeck Street
Multifamily | 6.92% CAP | 4 Units
Marketing description
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.
Contact The Maddalone Team at Empire Commercial for financials and showing.
Investment highlights
4-unit multifamily | Built 1860 | 2½-Story Painted Brick | Ten Broeck Triangle, Albany NY
All 4 units turned over within the past 5 years — no long-entrenched below-market leases
Separately metered — tenants pay own utilities, keeping owner expenses lean
1st floor unit below market for Albany 2BD/2BA — comparable rents $1,450–$1,650/mo, immediate upside
Gross Potential Income: $62,370/yr | Asking Price: $599,000 | Cap Rate: 6.92%
Property and school taxes paid current | Zone X minimal flood risk
Strong rental demand corridor — consistent low vacancy history since 2017 acquisition
Steps to downtown Albany, NY State Capitol, Albany Medical Center, and major employers
ROP current | Leases in place on 3 of 4 units | Basement Unit 2 vacating — value-add opportunity
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