Albany Three-Family Investment
For Sale
$250,000
Pending
284 Lark Street, Albany, NY 12210
MULTI_FAMILY - Other - Albany, NY
Property Size1,680 SF
Lot Size0.02 Acres
Days on Market123
Property Features for 284 Lark Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Multi Residence
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1
Basement
Apartment
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
DRIVE WEST ON MADISON AVE FROM STATE CAPITAL TO TURN RIGHT ON LARK ST. PROPERTY WILL BE ON NEXT CORNER ON THE RIGHT
Special listing conditions
In Foreclosure, Short Sale
Standard status
Pending
APN
010100 76.24-5-67
Size
1,680 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
2741
Utilities
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1853
Number of units
3
Flooring type
Hardwood, Vinyl
Building materials
Brick
Roof type
Rubber
Architectural style
Other
Listing Agency:
Revision Real Estate
(518) 438-2221
Listed By:
Jerome P Newkirk · License #10371200504
(518) 229-0366
Added: Mar 31
Changed: Jul 24
Last Checked: Jul 31 at 5:06AM
MLS# 202614208
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.
Investment Insights
Based on property information with market context.
This well-maintained three-family property is located at 283 Lark St. in Albany. Each unit features a one-bedroom layout. Two units are in move-in condition, suitable for owner-occupants or immediate rental income. The basement unit offers value-add potential and requires rehabilitation. The property is situated near local amenities, including Albany Medical Center, University at Albany, and the New York State Capitol. Convenient access to schools, dining, shopping, and public transportation enhances tenant appeal. The lot size is 0.02 acres, and the property size is 1680 square feet. The property is zoned for multi-residence use.
Key Highlights
- Three‑family property with three 1‑bedroom unit layouts
- Two units are in move‑in condition; basement unit requires rehabilitation
- Year built 1853 with brick construction
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 | $29.2k | $17.40 |
| − Vacancy | −$1.9k | −$1.13 |
| EGI | $27.3k | $16.27 |
| − OpEx | −$8.2k | −$4.88 |
| NOI | $19.1k | $11.39 |
1,680 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$273.3K
$239.2K – $318.9K
NOI $19,132 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$245.2K
$214.5K – $286.0K
NOI $17,161 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$443.2K
$387.8K – $517.1K
NOI $31,026 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,281
Businesses Nearby
Explore this area
Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained three-family property near Albany Medical Center and University.
Where is this triplex located?
The property is located at 284 Lark Street Albany, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Three‑family property with three 1‑bedroom unit layouts; Two units are in move‑in condition; basement unit requires rehabilitation; Year built 1853 with brick construction
