$435,000
Albany, NY 12210
MLS# 202614240
5 beds
1 / 22
Property Description
Discover an exceptional opportunity in one of Albany's most sought-after neighborhoods! This well-maintained 4-unit multi-family property sits in the heart of the vibrant Center Square district steps from Washington Park, trendy restaurants, boutique shops, and the energy of downtown Albany. With its classic architecture, tree-lined streets, and walkable lifestyle, Center Square consistently attracts strong rental demand from professionals, students, and long-term tenants alike. Currently configured as four separate living spaces, the property is legally zoned for three units. The upstairs unit has been thoughtfully divided into two distinct apartments, delivering immediate owner occupancy or additional income potential. One of these upstairs spaces is non-conforming, but the City of Albany's recent declaration of a housing crisis and its streamlined ADU (Accessory Dwelling Unit) approval process open a possible path for the new owner to legalize the second upstairs unit and maximize returns. Whether you're expanding your portfolio or making Center Square your home while generating income, this property delivers location, income, and upside potential in one of Albany's most desirable historic districts.
Details
Maps
Documents
Contract Information
Original List Price: 450000
List Price/SqFt: 173.24
Status: Active
Property Sub Type: Quadruplex
List Price: $435,000
Current Price: $435,000
Listing Contract Date: 2026-04-01
Location
City/Town (Mail): Albany
Street Number: 138
Street Name: Lancaster
Street Suffix: Street
County: Albany
State/Province: NY
Postal Code: 12210
Geo Lat: 42.652867
Geo Lon: -73.762501
Property Detail
Rooms Total: 12
Bathrooms Half: 0
Garage Spaces: 0
Above Grade Finished Area: 2511
Above Grade Finished Area Source: CRS
Parking Y/N: No
Below Grade Finished Area: 0
Below Grade Finished Area Source: CRS
Living Area: 2511
Lot Size Acres: 0.05
Waterfront Y/N: No
Enhanced Accessible Y/N: No
Bedrooms Total: 5
Bathrooms Full: 4
Year Built: 1861
Parcel, Tax, HOA
Parcel Number: 010100 76.24-6-70
Tax Annual Amount: 10720.82
Tax Section: 76.24
Total Taxes Description: Estimated
Tax Block: 6
Tax Lot: 70.000
School District: Albany
High School: Albany
Association Y/N: No
Directions & Remarks
Directions: Clinton Ave to Lark St., Left on Lancaster, House on Right
Public Remarks: Discover an exceptional opportunity in one of Albany's most sought-after neighborhoods! This well-maintained 4-unit multi-family property sits in the heart of the vibrant Center Square district steps from Washington Park, trendy restaurants, boutique shops, and the energy of downtown Albany.
With its classic architecture, tree-lined streets, and walkable lifestyle, Center Square consistently attracts strong rental demand from professionals, students, and long-term tenants alike.
Currently configured as four separate living spaces, the property is legally zoned for three units. The upstairs unit has been thoughtfully divided into two distinct apartments, delivering immediate owner occupancy or additional income potential. One of these upstairs spaces is non-conforming, but the City of Albany's recent declaration of a housing crisis and its streamlined ADU (Accessory Dwelling Unit) approval process open a possible path for the new owner to legalize the second upstairs unit and maximize returns.
Whether you're expanding your portfolio or making Center Square your home while generating income, this property delivers location, income, and upside potential in one of Albany's most desirable historic districts.
Sewer
Public Sewer: 1
Architectural Style
Traditional: 1
Basement
Apartment: 1
Bath Levels
Full Bath 1: 1st
Full Bath 2: 2nd
Full Bath 3: 3rd
Full Bath 4: 3rd
Construction Materials
Brick: 1
Photos - the contractual owner of the photos
Photo Owner: Seller/Landlord
Possession
At Closing: 1
Exterior Features
None: 1
Showing Requirements
24 Hour Notice: 1
Lockbox: 1
Occupied: 1
Pet(s) on Premises: 1
Showing Service: 1
Special Listing Conditions
Standard: 1
View
City: 1
Water Source
Public: 1
Heating
Hot Water: 1
Natural Gas: 1
Owner Pays
Gas: 1
Sewer: 1
Trash Collection: 1
Water: 1
Levels
Tri-Level: 1
Separate Utilities
Electric: 1
Number Of Separate Electric Meters: 4
Tenant Pays
Electricity: 1
Multi-Family Unit 1 Detail
Unit Location MF Unit 1: 1
Occupant Type MF Unit 1: Vacant
Monthly Rent MF Unit 1: 1250
Rent Desc. MF Unit 1: Estimated
Total Rooms MF Unit 1: 2
Total Bedrooms MF Unit 1: 1
Total Full Baths MF Unit 1: 1
Unit 1 Owner Furnish Features
Heat: 1
Sewer: 1
Trash: 1
Water: 1
Unit 1 Detail
Rent: 1250
Rent Description Unit 1: Estimated
Occupant Type Unit 1: Vacant
Total Bedrooms: 1
Multi-Family Unit 2 Detail
Unit Location MF Unit 2: 2
Occupant Type MF Unit 2: Tenant
Monthly Rent MF Unit 2: 1550
Rent Desc. MF Unit 2: Actual
Lease Term MF Unit 2: Month To Month
Total Rooms MF Unit 2: 4
Total Bedrooms MF Unit 2: 2
Total Full Baths MF Unit 2: 1
Unit 2 Owner Furnish Features
Heat: 1
Sewer: 1
Trash: 1
Water: 1
Unit 2 Detail
Rent: 1550
Rent Description Unit 2: Actual
Lease Term Unit 2: Month To Month
Occupant Type Unit 2: Tenant
Total Bedrooms: 2
Multi-Family Unit 3 Detail
Unit Location MF Unit 3: 3
Occupant Type MF Unit 3: Tenant
Monthly Rent MF Unit 3: 1200
Rent Desc. MF Unit 3: Actual
Lease Term MF Unit 3: Month To Month
Total Rooms MF Unit 3: 3
Total Bedrooms MF Unit 3: 1
Total Full Baths MF Unit 3: 1
Unit 3 Owner Furnish Features
Electricity: 1
Heat: 1
Sewer: 1
Trash: 1
Water: 1
Unit 3 Detail
Rent: 1200
Rent Description Unit 3: Actual
Lease Term Unit 3: Month To Month
Occupant Type Unit 3: Tenant
Total Bedrooms: 1
Multi-Family Unit 4 Detail
Unit Location MF Unit 4: 3
Occupant Type MF Unit 4: Owner
Monthly Rent MF Unit 4: 1200
Rent Desc. MF Unit 4: Estimated
Lease Term MF Unit 4: None
Total Rooms MF Unit 4: 3
Total Bedrooms MF Unit 4: 1
Total Full Baths MF Unit 4: 1
Unit 4 Owner Furnish Features
Electricity: 1
Heat: 1
Sewer: 1
Trash: 1
Water: 1
Unit 4 Detail
Rent: 1200
Rent Description Unit 4: Estimated
Occupant Type Unit 4: Owner
Total Bedrooms: 1
Status Change Info
Status Change Date: 2026-04-01
Property Features
Architectural Style: Traditional
Basement: Apartment
Construction Materials: Brick
Exterior Features: None
Heating: Hot Water; Natural Gas
Levels: Tri-Level
Owner Pays: Gas; Sewer; Trash Collection; Water
Possession: At Closing
Separate Utilities: Electric
Sewer: Public Sewer
Showing Requirements: 24 Hour Notice; Lockbox; Occupied; Pet(s) on Premises; Showing Service
Special Listing Conditions: Standard
Tenant Pays: Electricity
Water Source: Public
Unit 1 Owner Furnish Features: Heat; Sewer; Trash; Water
Unit 2 Owner Furnish Features: Heat; Sewer; Trash; Water
Unit 3 Owner Furnish Features: Electricity; Heat; Sewer; Trash; Water
Unit 4 Owner Furnish Features: Electricity; Heat; Sewer; Trash; Water
Anti-Discrimination Disclosure 
Listing Courtesy of Premier Homes Elite Realty LLC
Listing Agent: Kyle Chadwick
518-289-1042 | kyle@premierhomeseliterealty.com
518-289-1042 | kyle@premierhomeseliterealty.com
