1879 Central Avenue, Colonie, NY 12205

Colonie
Local realty services provided by:HUNT Real Estate ERA
1879 Central Avenue,Colonie, NY 12205
$659,900
  • 4 Beds
  • 7 Baths
  • 3,450 sq. ft.
  • Multi-family
  • Pending
Listed by: jennifer mentiply
Office: renovo real estate
MLS#:202610677
Source:Global MLS

Price summary

  • Price:$659,900
  • Price per sq. ft.:$191.28

About this home

Positioned along a high-visibility corridor in Colonie, this well-maintained mixed-use property delivers immediate cash flow with clear value-add upside. The asset features two street-level commercial spaces with long-term tenants, four one-bedroom apartments, one studio apartment, and a three-bay garage, all supported by ample off-street parking, a rare combination in this location! The building has been consistently rented, reflecting durable tenant demand. Current rents are below market, presenting a compelling opportunity for an investor to drive NOI through strategic rent optimization while maintaining stability. The roof was replaced approximately ten years ago and the studio was recently renovated. Total annual rents currently total $61,920 with yearly expenses around $15,000 making the NOI approx $46,920 and a 7.1% Cap rate! Coin Laundry washer and dryer on Premises!

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Home facts

  • Year built:1956
  • Listing ID #:202610677
  • Added:119 day(s) ago
  • Updated:May 15, 2026 at 07:39 AM

Rooms and interior

  • Bedrooms:4
  • Total bathrooms:7
  • Full bathrooms:5
  • Half bathrooms:2
  • Flooring:Carpet, Linoleum, Vinyl
  • Basement Description:Walk-Out Access
  • Living area:3,450 sq. ft.

Heating and cooling

  • Heating:Baseboard, Forced Air, Hot Water

Structure and exterior

  • Year built:1956
  • Building area:3,450 sq. ft.
  • Lot area:0.22 Acres
  • Construction Materials:Block, Vinyl Siding

Schools

  • High school:Colonie Central HS

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$659,900
  • Price per sq. ft.:$191.28
  • Tax amount:$7,362

Parking

  • Total parking spaces:15
  • Parking description:Paved
  • Garage:Yes
  • Garage spaces:3
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