Brick Triplex with Multiple
For Sale
$575,000
10 Pine Street, Albany, NY 12203
Three apartments share a walkout basement with laundry, storage, a half bath, and a recreation room.
Property Size2,944 SF
Price / SF$195.31
Days on Market9
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Property Features for 10 Pine Street
General Information
Standard status
Active
Size
2,944 SF
Property subtype
Multi-family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Amenities
fireplace
deck
generator
Building Details
Year Built
1955
Construction
brick
Listing Agency:
Re Max Solutions
Listed By:
Ferdinando Bruno · License #10491208177
(518) 318-3800
Source:
Signatureonerealtygroup
Added: Oct 7
Changed: Oct 15
Last Checked: Oct 14 at 11:37PM
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 Re Max Solutions
Investment Insights
Based on property information with market context.
Built in 1955, this brick triplex contains three apartments: a two-bedroom, one-bath unit on the first floor and two one-bedroom, one-bath units upstairs. The walkout basement includes shared laundry, a half bath, storage, and a recreation room with a wood fireplace connected to the first-floor apartment. Hardwood floors extend through much of the building, and some windows have been replaced. The first-floor apartment has a backup generator; the property has two electric services and a single gas hot-water heating system.
Garage space includes an attached one-car garage and a separate two-car garage at the rear. The upstairs apartment on the right has a deck above the garage and a second entrance. The sale also includes a vacant, cleared 60-by-100-foot lot on N Bridge Street, across the corner from the building. Construction on that lot requires variances; it may instead serve as an extension of the backyard. The property is in the Guilderland School District and has public water and sewer.
Garage space includes an attached one-car garage and a separate two-car garage at the rear. The upstairs apartment on the right has a deck above the garage and a second entrance. The sale also includes a vacant, cleared 60-by-100-foot lot on N Bridge Street, across the corner from the building. Construction on that lot requires variances; it may instead serve as an extension of the backyard. The property is in the Guilderland School District and has public water and sewer.
Key Highlights
- Three apartments: one 2‑bedroom, 1‑bath unit and two 1‑bedroom, 1‑bath units
- 2,944‑square‑foot brick building, built in 1955
- Separate attached 1‑car and rear 2‑car garages
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,527
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$670,540
$670.5K
Cap Rate 7%
$478,957
$479.0K
Cap Rate 9%
$372,522
$372.5K
Market Conditions
NOI Build-Up for 2,944 SF
Gross rent
$51.2K $17.40/SF
− Vacancy
−$3.3K −$1.13/SF
EGI
$47.9K $16.27/SF
− OpEx
−$14.4K −$4.88/SF
NOI
$33.5K $11.39/SF
Area
Albany, NY
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$670,540
Cap Rate 7%
$478,957
Cap Rate 9%
$372,522
Alternative Uses
Best Use
Multifamily LT 5
$479.0K
$419.1K – $558.8K
NOI $33,527 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$429.6K
$375.9K – $501.2K
NOI $30,072 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$776.7K
$679.6K – $906.2K
NOI $54,370 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
Explore this area
Business Placement
Demographics for 12203, NY
28,210
Population
14,755
Households
1.9
Avg Household Size
38
Median Age
54%
College-Educated
95%
High-School Grad
10.4 sq mi
ZIP Area
2,713
Density / Sq Mi
$80,055
Median Household Income
$44,412
Median Earnings
$1,342
Median Rent
$258,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments share a walkout basement with laundry, storage, a half bath, and a recreation room.
Where is this triplex located?
The property is located at 10 Pine Street Albany, NY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Three apartments: one 2‑bedroom, 1‑bath unit and two 1‑bedroom, 1‑bath units; 2,944‑square‑foot brick building, built in 1955; Separate attached 1‑car and rear 2‑car garages
