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138 Lancaster Street

Albany, NY 12210
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Bed 5

Bed

Bath 4

Bath

SqFt2,511

Sqft

Acres0.05

Acre(Lot)

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 o f 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.

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Detail Ic Property Details

Property Type : Residential Income

Price : $435,000

AD Id : 76694960

MLS Id : 202614240

Beds : 5

Lot Size : 0.05 Acre

Living Area Size : 2,511

Year Built : 1861

County : Albany

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Feature Features

  • Bedroom Information

    Total beds: 5

    Bathroom Information

    Total Baths: 4 Full Baths: 4

    Room Information

    Has Basement: Yes Basement: Apartment
  • Heating & Cooling

    Has Heating: Yes Heating: Hot Water, Natural Gas

  • Building Information

    Year Built: 1861 Construction Materials: Brick Private Pool: No View: City
  • Exterior Features

    Exterior Features: None

  • Lot Information

    Main Square Feet: 0.05 Acres Lot Size Acres: 0.05 Lot Size Square Feet: 2178

  • Listing Price Information

    Listing Price: $435000 Original Price: $450000

  • Tax Information

    Parcel Number: 010100 76.24-6-70 Tax Lot: 70.000 Tax Block: 6 Annual Tax: $10720.82

  • School Information

    Elementary School:
    Junior High School:
    Senior High School: Albany
  • Utility Information

    Sewer Connected
  • Location Information

    Direction: Clinton Ave to Lark St., Left on Lancaster, House on Right WaterSource: Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
79 Ten Broeck Street, Albany, NY, 12210 $599,900 6 4 3,744 3,744 SqFt
81 Ten Broeck Street, Albany, NY, 12210 $774,900 8 8 3,186 3,186 SqFt
29 2nd Street, Albany, NY, 12210 $1,075,000 19 12 6,600 6,600 SqFt
147 Clinton Avenue, Albany, NY, 12210 $125,000 8 3 3,234 3,234 SqFt
274 Livingston Avenue, Albany, NY, 12210 $289,900 5 2 2,800 2,800 SqFt
166 2nd Street, Albany, NY, 12210 $299,900 9 3 2,970 2,970 SqFt
149 Lancaster Street, Albany, NY, 12210 $600,000 3 4 4,400 4,400 SqFt
29 Dove Street, Albany, NY, 12210 $739,900 6 4 3,193 3,193 SqFt
57 Dove Street, Albany, NY, 12210 $611,000 3 3 3,636 3,636 SqFt
177 Lancaster Street, Albany, NY, 12210 $374,999 3 3 1,806 1,806 SqFt

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ByOwner last updated this listing 06/17/2026 @ 16:33

MLS: 202614240 LISTED BY: Kyle Chadwick, Premier Homes Elite Realty LLC 518-289-1042 SOURCE: Global MLS

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