Triplex with In-Unit
New
For Sale
$324,000
101 Philip St, Albany, NY 12202
Three two-bedroom apartments feature separate utility meters and laundry facilities inside each unit.
Property Size2,772 SF
Price / SF$116.88
Days on Market7
Property Features for 101 Philip St
General Information
Standard status
Active
Size
2,772 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Individually Metered Utilities
unspecified utilities
Additional Details
Utilities to Site
Yes
Amenities
in-unit laundry
shared backyard
Building Details
Year Built
1854
Listing Agency:
Tailored Real Estate Group
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Oct 23
Changed: Oct 27
Last Checked: Oct 28 at 7:41AM
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 Tailored Real Estate Group
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Investment Insights
Based on property information with market context.
This 2,772-square-foot triplex contains three two-bedroom apartments. Renovations completed in 2015 included new plumbing and heating systems, along with updated kitchens and bathrooms. Each apartment has wood floors and in-unit laundry, and utilities are separately metered. Tenants are responsible for their own heat. The building dates to 1854 and includes a shared backyard.
At 101 Philip St in Albany’s historic Mansion District, the property is near Empire State Plaza, the State Capitol, and downtown Albany. Two apartments are vacant, providing flexibility for leasing or owner occupancy.
At 101 Philip St in Albany’s historic Mansion District, the property is near Empire State Plaza, the State Capitol, and downtown Albany. Two apartments are vacant, providing flexibility for leasing or owner occupancy.
Key Highlights
- Three two‑bedroom apartments in a 2,772‑square‑foot building
- Renovated in 2015 with updated kitchens and bathrooms, plus new plumbing and heating systems
- Wood flooring and in‑unit laundry in every apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,315
Cap Rate
8.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$566,300
$566.3K
Cap Rate 7%
$404,500
$404.5K
Cap Rate 9%
$314,611
$314.6K
Market Conditions
NOI Build-Up for 2,772 SF
Gross rent
$54.9K $19.80/SF
− Vacancy
−$3.4K −$1.23/SF
EGI
$51.5K $18.57/SF
− OpEx
−$23.2K −$8.36/SF
NOI
$28.3K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$566,300
Cap Rate 7%
$404,500
Cap Rate 9%
$314,611
Alternative Uses
Best Use
Multifamily LT 5
$451.0K
$394.6K – $526.1K
NOI $31,568 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$404.5K
$353.9K – $471.9K
NOI $28,315 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$731.3K
$639.9K – $853.2K
NOI $51,193 @ 7.0% cap · market cap 15.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,231
Businesses Nearby
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Business Placement
Demographics for 12202, NY
10,257
Population
5,434
Households
1.9
Avg Household Size
34
Median Age
33%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
5,129
Density / Sq Mi
$49,684
Median Household Income
$34,656
Median Earnings
$1,012
Median Rent
$139,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three two-bedroom apartments feature separate utility meters and laundry facilities inside each unit.
Where is this triplex located?
The property is located at 101 Philip St Albany, NY.
What is the asking price?
The asking price for this property is $324,000.
What are key features of this property?
This property features: Three two‑bedroom apartments in a 2,772‑square‑foot building; Renovated in 2015 with updated kitchens and bathrooms, plus new plumbing and heating systems; Wood flooring and in‑unit laundry in every apartment
