Historic 7-Unit Brick Apartment
194 3rd Street Troy, NY 12180
New
194 3rd Street, Troy, NY, 12180
$750,000
For Sale
$750,000
COMMERCIAL - Troy, NY
Property Size3,693 SF
Lot Size0.08 Acres
Price / SF$203.09
Days on Market4
Property Features for 194 3rd Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bathrooms
- 7
- Rooms
- Bathroom 4, Bathroom 1, Bathroom 5, Bathroom 7, Bathroom 2, Bathroom 6, Bathroom 3
- Standard status
- Active
- APN
- 381700 101.69-10-22
- Size
- 3,693 SF
- Lot size
- 0.08 Acres
Utilities
- Heating system
- Radiant
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 3
- Flooring type
- Vinyl, Tile, Hardwood
Listing Agency
KW PLATFORM
(518) 724-5800
935 NEW LOUDON RD, LATHAM, NY
Listed by
Kristian Khachadourian · License #10401303476
Added: Jul 14 Checked: Jul 17 at 6:06 pm
MLS# 11885360
Listing URL
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This historic brick apartment building contains seven residential units and retains original character elements, including original woodwork and hardwood floors throughout. The property has been well cared for, with apartment updates completed over time. Units offer generous layouts with lots of natural light, and the building includes a large shared yard to the rear plus a garage accessible from Church St.
Located in downtown Troy, the property offers walkability to local amenities and is just steps from Washington Park.
The building is fully rented, supporting immediate rental income.
Located in downtown Troy, the property offers walkability to local amenities and is just steps from Washington Park.
The building is fully rented, supporting immediate rental income.
Key Highlights
- Historic 7‑unit brick apartment building, converted from a 1920‑era property
- Original characteristics retained, including original woodwork and hardwood floors throughout
- Each unit updated over time; property is fully rented
Local Financial Insights For Apartment 5plus
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 | $75.3k | $20.40 |
| − Vacancy | −$3.6k | −$0.98 |
| EGI | $71.7k | $19.42 |
| − OpEx | −$32.3k | −$8.74 |
| NOI | $39.4k | $10.68 |
3,693 SF · lease $20.40/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$563.5K
$493.1K – $657.5K
NOI $39,447 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,666 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Brick, historic 7-unit building features original woodwork and hardwood floors, with a shared rear yard and garage access.
Where is this apartment building located?
The property is located at 194 3rd Street Troy, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Historic 7‑unit brick apartment building, converted from a 1920‑era property; Original characteristics retained, including original woodwork and hardwood floors throughout; Each unit updated over time; property is fully rented
