All-Brick Triplex with 3 Remodeled
For Sale
$445,900
117 4TH Avenue, Albany, NY 12202
All-brick triplex with three remodeled units and 10 bedrooms, with tenants paying separate utilities.
Property Size3,835 SF
Price / SF$116.27
Days on Market125
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Property Features for 117 4TH Avenue
General Information
Standard status
Active
Size
3,835 SF
Property subtype
Multi-family
Building Details
Year Built
1880
Listing Agency:
Carr Real Estate Group LLC
Listed By:
Richard Carr · License #10491207486
(518) 488-2434
Source:
Signatureonerealtygroup
Added: Jun 13
Changed: Oct 15
Last Checked: Oct 15 at 12:07AM
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 Carr Real Estate Group LLC
Investment Insights
Based on property information with market context.
117 4th Avenue is an all-brick triplex in downtown Albany featuring three spacious apartments and 10 total bedrooms. Each unit has been previously remodeled with newer windows, luxury vinyl plank (LVP) flooring, updated kitchens, and modern bathrooms. The property also has separate, newer mechanicals, and tenants pay their own heat, hot water, electric, and gas.
Two of the apartments are currently vacant, and the vacant units have been freshly painted and primed for immediate occupancy. The exterior is low-maintenance brick and was recently repointed.
For investors and owner-occupants, the existing layout and completed unit updates provide a straightforward setup across all three apartments, with separate utility responsibility by unit.
Two of the apartments are currently vacant, and the vacant units have been freshly painted and primed for immediate occupancy. The exterior is low-maintenance brick and was recently repointed.
For investors and owner-occupants, the existing layout and completed unit updates provide a straightforward setup across all three apartments, with separate utility responsibility by unit.
Key Highlights
- All‑brick triplex built in 1880 with 3 apartments and 10 total bedrooms in downtown Albany
- Estimated $5,100/month gross rent roll, with all three units currently operated as separate‑utility rentals
- All units previously remodeled with newer windows, luxury vinyl plank (LVP) flooring, updated kitchens, and modern bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,174
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$783,480
$783.5K
Cap Rate 7%
$559,629
$559.6K
Cap Rate 9%
$435,267
$435.3K
Market Conditions
NOI Build-Up for 3,835 SF
Gross rent
$75.9K $19.80/SF
− Vacancy
−$4.7K −$1.23/SF
EGI
$71.2K $18.57/SF
− OpEx
−$32.1K −$8.36/SF
NOI
$39.2K $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%
$783,480
Cap Rate 7%
$559,629
Cap Rate 9%
$435,267
Alternative Uses
Best Use
Multifamily LT 5
$623.9K
$545.9K – $727.9K
NOI $43,674 @ 7.0% cap · market cap 9.79%
Second Best
Apartment 5plus
$559.6K
$489.7K – $652.9K
NOI $39,174 @ 7.0% cap · market cap 8.79%
Theoretical Best
Office A
$1.01M
$885.3K – $1.18M
NOI $70,825 @ 7.0% cap · market cap 15.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Explore this area
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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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 - All-brick triplex with three remodeled units and 10 bedrooms, with tenants paying separate utilities.
Where is this triplex located?
The property is located at 117 4TH Avenue Albany, NY.
What is the asking price?
The asking price for this property is $445,900.
What are key features of this property?
This property features: All‑brick triplex built in 1880 with 3 apartments and 10 total bedrooms in downtown Albany; Estimated $5,100/month gross rent roll, with all three units currently operated as separate‑utility rentals; All units previously remodeled with newer windows, luxury vinyl plank (LVP) flooring, updated kitchens, and modern bathrooms
