Brick Triplex with Separate
New
For Sale
$425,000
4 View Ave, Albany, NY 12209
Three-unit brick property with varied layouts, public utilities, and a full basement offering additional storage and service space.
Property Size3,145 SF
Price / SF$135.14
Days on Market5
Property Features for 4 View Ave
General Information
Standard status
Active
Size
3,145 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1927
Construction
traditional brick
Listing Agency:
Venture Fox Realty Group LLC
Listed By:
Brian Walters · License #30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Sep 19
Changed: Sep 23
Last Checked: Sep 22 at 4:04PM
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 Venture Fox Realty Group LLC
Investment Insights
Based on property information with market context.
This 1927 brick triplex contains approximately 3,145 square feet of above-grade living space across three separately metered units. The residence includes one three-bedroom apartment and two one-bedroom apartments, each with a full bathroom. The larger unit has a living room, dining room, kitchen, laundry room, and three bedrooms, along with a refrigerator, wall oven, and dishwasher. Hardwood flooring and approximately 9-foot ceilings are featured in the main living areas, while one bedroom includes a cedar-lined walk-in closet.
A full unfinished basement provides storage and utility space with exterior walk-out access, dual sump pumps, and a backup system. Building systems include three gas meters, three electric panels rated at approximately 100 amps each, and three separate gas-fired hot water heating systems. Public water and public sewer serve the property. The property has an estimated market cap rate of approximately 11.3%, with an indicated range of 10.2% to 13%. Some asbestos is present and requires appropriate evaluation and handling.
A full unfinished basement provides storage and utility space with exterior walk-out access, dual sump pumps, and a backup system. Building systems include three gas meters, three electric panels rated at approximately 100 amps each, and three separate gas-fired hot water heating systems. Public water and public sewer serve the property. The property has an estimated market cap rate of approximately 11.3%, with an indicated range of 10.2% to 13%. Some asbestos is present and requires appropriate evaluation and handling.
Key Highlights
- Three‑unit configuration with one 3‑bedroom apartment and two 1‑bedroom apartments
- Approximately 3,145 square feet of above‑grade living space
- Separate utilities with three gas meters, three electric panels, and three gas‑fired hot water heating systems
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,816
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$716,320
$716.3K
Cap Rate 7%
$511,657
$511.7K
Cap Rate 9%
$397,956
$398.0K
Market Conditions
NOI Build-Up for 3,145 SF
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.
Gross rent
$54.7K $17.40/SF
− Vacancy
−$3.6K −$1.13/SF
EGI
$51.2K $16.27/SF
− OpEx
−$15.3K −$4.88/SF
NOI
$35.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$716,320
Cap Rate 7%
$511,657
Cap Rate 9%
$397,956
Alternative Uses
Best Use
Multifamily LT 5
$511.7K
$447.7K – $596.9K
NOI $35,816 @ 7.0% cap · market cap 8.43%
Second Best
Apartment 5plus
$458.9K
$401.6K – $535.4K
NOI $32,126 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$829.7K
$726.0K – $968.0K
NOI $58,082 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,274
Businesses Nearby
Explore this area
Business Placement
Demographics for 12209, NY
10,231
Population
4,768
Households
2.1
Avg Household Size
37
Median Age
46%
College-Educated
88%
High-School Grad
2.2 sq mi
ZIP Area
4,650
Density / Sq Mi
$81,642
Median Household Income
$51,848
Median Earnings
$1,165
Median Rent
$200,800
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit brick property with varied layouts, public utilities, and a full basement offering additional storage and service space.
Where is this triplex located?
The property is located at 4 View Ave Albany, NY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Three‑unit configuration with one 3‑bedroom apartment and two 1‑bedroom apartments; Approximately 3,145 square feet of above‑grade living space; Separate utilities with three gas meters, three electric panels, and three gas‑fired hot water heating systems
