Three-Family Residential Income
1 Loralee Drive Colonie, NY 12205
New
1 Loralee Drive, Colonie, NY, 12205
$468,500
For Sale
$468,500
A three-unit triplex with one occupied unit and two vacant units ready for immediate occupancy.
Property Size2,395 SF
Price / SF$195.62
Days on Market3
Property Features for 1 Loralee Drive
General Information
- Standard status
- Active
- Size
- 2,395 SF
- Property subtype
- Multi Family / Triplex
Building Details
- Year Built
- 1911
Listing agency
Suzanne Prezio Properties, Inc
(518) 577-6571
Listed by
Suzanne I Prezio · License #10311209453
(518) 577-6571
Source
Compass
Added: Jul 19 Updated: Jul 21 at 5:37PM Checked: Jul 21 at 5:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Suzanne Prezio Properties, Inc
Investment Insights
Based on property information with market context.
This three-family triplex offers flexible living and rental configurations. Unit 1 is a first-floor two-bedroom, one-bath apartment with a long-term month-to-month tenant in place and washer/dryer hookups. Unit 2 includes one bedroom, one bath, plus an adjoining bonus room, and is equipped with a stackable washer and dryer. Upstairs, Unit 3 provides two bedrooms and one bath. Units 2 and 3 are vacant and available for immediate occupancy.
The property is located on a level corner lot in the South Colonie School District. Saddlewood Elementary is described as being at the end of the street, and the home is positioned close to shopping, restaurants, Albany International Airport, major highways, and hospitals.
The sellers have indicated the property has been pre-inspected, supporting due diligence as you move forward.
The property is located on a level corner lot in the South Colonie School District. Saddlewood Elementary is described as being at the end of the street, and the home is positioned close to shopping, restaurants, Albany International Airport, major highways, and hospitals.
The sellers have indicated the property has been pre-inspected, supporting due diligence as you move forward.
Key Highlights
- Three‑family triplex with Unit 1 occupied on a long‑term month‑to‑month basis and Units 2 and 3 vacant
- Unit 1: first‑floor 2‑bedroom, 1‑bath apartment with washer/dryer hookups
- Unit 2: 1‑bedroom, 1‑bath with an adjoining bonus room plus stackable washer and dryer
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 | $41.7k | $17.40 |
| − Vacancy | −$2.7k | −$1.13 |
| EGI | $39.0k | $16.27 |
| − OpEx | −$11.7k | −$4.88 |
| NOI | $27.3k | $11.39 |
2,395 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$389.6K
$340.9K – $454.6K
NOI $27,275 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$349.5K
$305.8K – $407.7K
NOI $24,464 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$631.9K
$552.9K – $737.2K
NOI $44,231 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - A three-unit triplex with one occupied unit and two vacant units ready for immediate occupancy.
Where is this triplex located?
The property is located at 1 Loralee Drive Colonie, NY.
What is the asking price?
The asking price for this property is $468,500.
What are key features of this property?
This property features: Three‑family triplex with Unit 1 occupied on a long‑term month‑to‑month basis and Units 2 and 3 vacant; Unit 1: first‑floor 2‑bedroom, 1‑bath apartment with washer/dryer hookups; Unit 2: 1‑bedroom, 1‑bath with an adjoining bonus room plus stackable washer and dryer
