All-Brick Triplex with 3 Remodeled
117 4TH Avenue Albany, NY 12202
117 4TH Avenue, Albany, NY, 12202
$499,900
For Sale
$499,900
All-brick triplex with three remodeled units and 10 bedrooms, with tenants paying separate utilities.
Property Size3,835 SF
Price / SF$130.35
Days on Market27
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
(518) 639-4663
Source
Signatureonerealtygroup
Added: Jun 20 Checked: Jul 16 at 12:28 pm
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
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 | $66.7k | $17.40 |
| − Vacancy | −$4.3k | −$1.13 |
| EGI | $62.4k | $16.27 |
| − OpEx | −$18.7k | −$4.88 |
| NOI | $43.7k | $11.39 |
3,835 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$623.9K
$545.9K – $727.9K
NOI $43,674 @ 7.0% cap · market cap 8.74%
Second Best
Apartment 5plus
$559.6K
$489.7K – $652.9K
NOI $39,174 @ 7.0% cap · market cap 7.84%
Theoretical Best
Office A
$1.01M
$885.3K – $1.18M
NOI $70,825 @ 7.0% cap · market cap 14.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
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 $499,900.
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
