SOLDNOV 3, 2023
Homes for Sale Near 469 Ontario St
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0.34 ACRESListing by: Howard Hanna, Active- NEW - 2 DAYS AGOFOR SALE BY OWNER
- FOR SALE BY OWNER
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Local Information
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Description
This property is not currently for sale or for rent on Trulia. The description and property data below may have been provided by a third party, the homeowner or public records.
We are pleased to present for sale a 7 building package located Albany's Pine Hills Neighborhood. The 7 properties are comprised of a total of 23 apartment units and 5 off street parking spaces, all with in walking distance of each other for easy management. The unit mix is a combination of(7) Studios (7) 1Bd/1Ba (5) 2Bd/1Ba and (4) 3Bd/1Ba, (see rent roll section for individual building breakdowns) with rents ranging from $599-$1680 with tremendous opportunity for rent upside and also utility separation to reduce utility expenses showing a conservative pro-forma cap rate of above 13%. The properties have been owned and managed by the same operator for close to 30 years and have enjoyed stabilized cash flow and low vacancy rate through out the years. The next investor just needs to step in and enjoy the same success. The property is located in the Pine Hills section of Albany also known as Mid-Town and is home to two major colleges (College of St Rose and SUNY Albany City Campus) as well as the famed Washington Park. Other nearby colleges to mention also include Albany Medical Center, Albany Law, Albany School of Pharmacy and Russell Sage. Western Ave and Madison Ave (NY Rt-20) are the main throughfares in the neighborhood that supports the residential component with grocery services, restaurants, shops, nightlife and public transit. From either of these streets you can access major highways and are major arteries for the City of Albany in general. The portfolio asset is being offered for $1,449,000 which is a true value considering the individual market values for each building is closer to $1,700,000. From a cap rate perspective this portfolio is very attractive with a blended rate of 11.36% and true cap of 9.54% (pro-forma 13%+) and handsome cash on cash return of 13.39%. An investor would most certainly enjoy stabilized cashflow, great locations for easy management, and instant equity from purchase price versus market rate price on all 7 properties. Don't hesitate this portfolio will sell fast!
Home Highlights
Parking
No Info
Outdoor
No Info
A/C
Heating only
HOA
None
Price/Sqft
$144/sqft
Listed
No Info
Home Details for 469 Ontario St
Interior Features |
|---|
Interior Details Basement |
Heating & Cooling Heating: Forced AirHeating Fuel: Forced Air |
Levels, Entrance, & Accessibility Floors: Tile |
Property Information |
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Year Built Year Built: 1922 |
Property Type / Style Property Type: Multi Family |
Exterior Features |
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Exterior Home Features Exterior: WoodFoundation Type: Piers |
Price & Status |
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Price Price Per Sqft: $144/sqft |
Community |
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Units in Building: 5 |
Lot Information |
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Lot Area: 10422 sqft |
Price History for 469 Ontario St
| Date | Price | Event | Source |
|---|---|---|---|
| 11/03/2023 | $280,000 | Sold | N/A |
| 12/02/2022 | ListingRemoved | NY State MLS | |
| 06/09/2022 | $1,449,000 | Listed For Sale | NY State MLS #11082671 |
| 10/12/2011 | $126,000 | Sold | Global MLS #201121554 |
| 06/18/2011 | $164,900 | Listed For Sale | Agent Provided |
Property Taxes and Assessment
| Year | 2023 |
|---|---|
| Tax | |
| Assessment | $232,387 |
Home facts updated by county records
Comparable Sales for 469 Ontario St
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.13 | Multi-Family Home | $235,000 | 05/18/23 | 4 | 2 | 2,016 | |
0.19 | Multi-Family Home | $272,800 | 08/29/23 | 6 | 2 | 2,548 | |
0.29 | Multi-Family Home | $345,000 | 12/05/23 | 4 | 2 | 2,036 | |
0.05 | Multi-Family Home | $216,500 | 05/31/23 | 3 | 2 | 1,200 | |
0.24 | Multi-Family Home | $330,000 | 10/30/23 | 6 | 2 | 2,570 | |
0.37 | Multi-Family Home | $305,000 | 09/21/23 | 5 | 2 | 2,288 | |
0.44 | Multi-Family Home | $280,000 | 01/25/24 | 4 | 2 | 2,176 | |
0.40 | Multi-Family Home | $280,000 | 02/09/24 | 6 | 2 | 2,532 | |
0.25 | Multi-Family Home | $240,000 | 08/14/23 | 3 | 2 | 1,266 |
Assigned Schools
These are the assigned schools for 469 Ontario St.
- Albany High School
- 9-12
- Public
- 2607 Students
4/10GreatSchools RatingParent Rating Averageworse school i been too and im a seniorStudent Review5mo ago - New Scotland Elementary School
- PK-5
- Public
- 450 Students
4/10GreatSchools RatingParent Rating AverageBoth of my children have had an excellent experience at this school. They have continued to perform well due to the great teachers they have had and a comfortable learning environment. This school also has the diversity of a city school which was important to our family and allows them to interact with different races, religions and economic backgrounds.Parent Review1y ago - William S Hackett Middle School
- 6-8
- Public
- 646 Students
6/10GreatSchools RatingParent Rating AverageMy son is finishing 6th grade. The school is now safe and looks out for bullying. My major concern is over the quality of the education. It seems teachers are more interested (pushed to) getting students to make the average than to really excel, to be all they can be. Foreign language education appears to be very weak. Note: although the students do take the city bus, they do so as a group, so I think it's somewhat safe...at least safer than me taking the NYC subways in the 80's !Parent Review6y ago 
Check out schools near 469 Ontario St.
Check with the applicable school district prior to making a decision based on these schools. Learn more.
Neighborhood Overview
Neighborhood stats provided by third party data sources.
What Locals Say about New Scotland
- Trulia User
- Resident
- 2y ago
"There are sidewalks and it’s pretty walkable in some areas. No dog parks or dog friendly parks, though. "
- Ana M. M.
- Resident
- 3y ago
"I like the parks the tulip fair I love it.the people the university is are very good and it took 5 years in this neighborhood and I don't want to leave it"
- Abraham R.
- Resident
- 4y ago
"i walk i few blocks with no issues can catch bus on Madison or new scotland real easy plus there food places in either direction "
- Cheryl
- Resident
- 4y ago
"Perfect area to walk your dog! There are always people walking and also walking dogs in the neighborhood. "
- Peeradvocate10386
- Resident
- 4y ago
"There aren’t any playgrounds that are close to walk to on south allen street but i would say that if your 12 year old wanted to go to Dunkin’ Donuts or cvs that they would be safe. "
- Eroztsylor
- Resident
- 5y ago
"The houses are varied and older; everything is within walking distance. The library is 10 minutes away by foot."
- Jessica
- Resident
- 5y ago
"Everyone is friendly in this neighborhood. I’ve never not felt safe. Lots of dogs and children. Easy parking"
- Cheryl C.
- Resident
- 5y ago
"It’s close to a major hospital (walking distance). It’s a beautiful area, with large, well maintained homes. Beautiful streets for walking. "
- Eroztsylor
- Resident
- 5y ago
"I just moved here but I grew up about a mile away. Manning Boulevard has some beautiful homes and I have always wanted to own one. It's a dream come true!"
- Rtabachneck
- 12y ago
"Park like living in the city. Walk to everything. Close to hospital, churches, synagogues, post office, restaurants, bus line."
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Homes for Rent Near 469 Ontario St
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- PET FRIENDLYWinding Brook Holdings, LLC
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- NEW - 1 DAY AGOPET FRIENDLYJones Street Residential, Inc.
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- PET FRIENDLYSunrise Management & Consulting
- PET FRIENDLYParagon Residential Management, LLC
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Off Market Homes Near 469 Ontario St
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- SOLDAPR 23, 2024Keller Williams Capital Dist, Closed
- SOLDAPR 22, 2024Keller Williams Capital Dist, Closed
- SOLDAPR 19, 2024Coldwell Banker Prime Prop., Closed
- SOLDAPR 18, 2024Keller Williams Capital Dist, Closed
- SOLDAPR 16, 2024Trevett Group LLC, Closed
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469 Ontario St, Albany, NY 12208 is a studio, 1,941 sqft multi-family built in 1922. 469 Ontario St is located in New Scotland, Albany. This property is not currently available for sale. 469 Ontario St was last sold on Nov 3, 2023 for $280,000.