Remodeled Brick
117 4th Avenue, Albany, NY 12202
For Sale
$445,900
MultiFamily, Albany, NY
Property Size3,835 SF
Lot Size0.05 Acres
Price / SF$116.27
Days on Market142
Property Features for 117 4th Avenue
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Window features
Interior features
Fireplace
Basement
Lot features
Elementary school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
Carr Real Estate Group LLC
Listed By:
Richard Carr · License NY #10491207486
(518) 488-2434
Added: Jun 26
Changed: Oct 27
Last Checked: Nov 14 at 12:06AM
MLS# 202620596
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 117 4th Avenue in Albany, this 3,835-square-foot triplex contains three apartments with 10 total bedrooms. The all-brick building dates to 1880 and has a recently repointed exterior, flat rubber roofing, and public water and sewer. Interior improvements include newer windows, laminate and vinyl flooring, updated kitchens, modern bathrooms, and separate mechanical systems. Heating is provided by hot water, baseboard, and natural gas systems, with window-unit cooling and a fireplace.
Two apartments are vacant, while the three-unit layout offers flexible occupancy across the property. Each unit has separate utility service, and the building is zoned Multi Residence. The property occupies 0.05 acres in Albany County, with downtown Albany identified as the surrounding setting.
Two apartments are vacant, while the three-unit layout offers flexible occupancy across the property. Each unit has separate utility service, and the building is zoned Multi Residence. The property occupies 0.05 acres in Albany County, with downtown Albany identified as the surrounding setting.
Key Highlights
- Three‑apartment multifamily property with 10 total bedrooms
- 3,835 square feet on 0.05 acres
- All‑brick construction with recently repointed exterior
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
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
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
$139,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Triplexes in Albany, NY
Properties on Market for Triplexes in Albany
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartment units combine updated interiors, separate utilities, and a low-maintenance masonry exterior.
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: Three‑apartment multifamily property with 10 total bedrooms; 3,835 square feet on 0.05 acres; All‑brick construction with recently repointed exterior
