Albany Triplex in Top
321 Washington Avenue, Albany, NY 12206
- Added:
- Apr 15, 2026
- Days on Market:
- 49
- Last Refresh:
- Jun 2 at 2:06 am
Property Features for 321 Washington Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 3
- Rooms
- Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 1
- Patio and Porch features
- Patio
- Interior features
- Paddle Fan
- Standard status
- Pending
- APN
- 010100 65.71-3-49
- Size
- 2,376 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6907
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Baseboard, Zoned
- Water source
- Public
Building Details
- Year built
- 1890
- Number of units
- 3
- Flooring type
- Linoleum, Hardwood, Tile - Ceramic
- Building materials
- Brick, Vinyl Siding
- Roof type
- Shingle, Asphalt
- Architectural style
- Other
Listing agent Jenn L Baniak-Hollands License #10301218622 (518) 512-7784
Listing office KW Platform 271 Delaware Avenue, Latham, NY (518) 935-4600
Listing date Apr 15, 2026
MLS# 202615069
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
- Triplex generating over $38,000 in annual income.
- Located near Albany's hospitals, Empire Plaza, Washington Park, and Center Square retail/dining.
- All units feature hardwood floors, original woodwork, and a mantlepiece.
- Updated bathrooms with new vanities and tub/shower units.
- Each apartment has direct access to the backyard.
- Roof is only 6 years old; easy‑care brick and vinyl siding.
Overview
This triplex is suited for either owner-occupancy or investment purposes. The property generates over $38,000 in annual income and rents easily. Each of the one-bedroom units features period details such as hardwood floors, original woodwork, and a mantlepiece in the living room. The kitchens are spacious and eat-in. Bedrooms are large enough to accommodate a queen-sized bed. Bathrooms are updated with new vanities and tub/shower units. Each apartment has direct access to the backyard. The roof is 6 years old. The building features easy-care brick and vinyl siding. Separate utilities are in place. The property is located near Albany's hospitals, the Empire Plaza, Washington Park, and the retail and dining options of Center Square. It is also located minutes from I90 and I787. The property size is 2376 square feet and the lot size is 0.05 acres. The property is currently fully occupied, with Unit 1 becoming available from June 1st.
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 | $41.3k | $17.40 |
| − Vacancy | −$2.7k | −$1.13 |
| EGI | $38.7k | $16.27 |
| − OpEx | −$11.6k | −$4.88 |
| NOI | $27.1k | $11.39 |
2,376 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$386.6K
$338.2K – $451.0K
NOI $27,059 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$346.7K
$303.4K – $404.5K
NOI $24,270 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$626.9K
$548.5K – $731.3K
NOI $43,880 @ 7.0% cap · market cap 12.57%
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
- -73.767809
- Latitude
- 42.659402
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Well-maintained Albany triplex generating over $38,000 in annual income.
Where is this triplex located?
The property is located at 321 Washington Avenue Albany, NY.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Triplex generating over $38,000 in annual income.; Located near Albany's hospitals, Empire Plaza, Washington Park, and Center Square retail/dining.; All units feature hardwood floors, original woodwork, and a mantlepiece.
