Historic Multifamily Property Near Lark
151 Jefferson Street, Albany, NY 12210
- Added:
- Apr 23, 2026
- Days on Market:
- 44
- Last Refresh:
- Jun 5 at 1:06 am
Property Features for 151 Jefferson Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1
- Parking
- 11
- Parking features
- Off Street
- Patio and Porch features
- Deck
- Interior features
- Built-in Features
- Exterior features
- Garden
- Fireplace
- 1
- Basement
- Unfinished
- Standard status
- Pending
- APN
- 010100 76.32-4-40
- Size
- 2,492 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 8248
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Space Heater, Electric (Heating), Baseboard
- Water source
- Public
Building Details
- Year built
- 1842
- Number of units
- 3
- Building materials
- Wood Siding
- Roof type
- Rubber
Listing agent Daniel Grebert License #10401371037 (518) 441-8225
Listing office Gucciardo Real Estate LLC 1074 Troy-Schenectady Road, Albany, NY (518) 221-9079
Listing date Apr 23, 2026
MLS# 202615658
Listing URL
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Historic property built in 1842, restored by award‑winning owners, blending original mid‑19th century charm with modern updates.
- Prime location between Lark Street's Business/Restaurant District and Albany's Downtown, close to key attractions.
- Three units (two 1‑bed, one 2‑bed) offer flexibility for rental income or owner‑occupancy.
- Unit C (2‑bed) features an expansive, light‑filled living space with skylights, offering penthouse‑like ambiance and potential as an executive suite.
- Includes an adjacent parking lot (155 Jefferson St.) and 154 Jefferson St. as part of a larger portfolio sale.
- Refreshed garden area provides potential for a tranquil relaxation space or outdoor entertainment courtyard.
Overview
Located between Lark Street's Business/Restaurant District and Albany's Downtown, including the Empire State Plaza, Museum, Capitol Building, and State Street Offices, this historic property at 151 Jefferson St. features three units. The property includes two one-bedroom, one-bathroom apartments and one two-bedroom, one-bathroom apartment, all restored from its original mid-19th-century construction. The property encompasses what was formerly two buildings, sometimes referred to as 151 and 151 B. Units A and B are on the first floor, while Unit C occupies the entire second floor. Unit A features a fireplace and mantel. Unit B, currently rented to a long-term tenant, includes classic built-ins. Unit C has an expansive living space with natural light from skylights. All three units have access to a refreshed garden area. The property size is 2492 square feet and the lot size is 0.05 acres. The adjacent parking lot at 155 Jefferson is also being sold with this property, along with 154 Jefferson St. as part of a larger portfolio. Unit A is 1 bed/1bath and features a striking fireplace and mantel that serve as the centerpiece of the living area. Unit C boasts 2 bedrooms/1bath and is absolutely loaded with potential. This unit features an expansive living space that spreads across the entire rear of the building and overflows with natural light from skylights overhead.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.4k | $17.40 |
| − Vacancy | −$2.8k | −$1.13 |
| EGI | $40.5k | $16.27 |
| − OpEx | −$12.2k | −$4.88 |
| NOI | $28.4k | $11.39 |
2,492 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$405.4K
$354.8K – $473.0K
NOI $28,380 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$363.6K
$318.2K – $424.3K
NOI $25,455 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$657.5K
$575.3K – $767.0K
NOI $46,022 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Albany
- State
- New York
- Longitude
- -73.76497
- Latitude
- 42.650396
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Unique 3-unit property near Albany's business district and downtown.
Where is this triplex located?
The property is located at 151 Jefferson Street Albany, NY.
What is the asking price?
The asking price for this property is $389,800.
What are key features of this property?
This property features: Historic property built in 1842, restored by award‑winning owners, blending original mid‑19th century charm with modern updates.; Prime location between Lark Street's Business/Restaurant District and Albany's Downtown, close to key attractions.; Three units (two 1‑bed, one 2‑bed) offer flexibility for rental income or owner‑occupancy.
