Downtown Brick Apartment
194 3RD Street Troy, NY 12180
194 3RD Street, Troy, NY, 12180
$750,000
For Sale
$750,000
Historic 7-unit brick apartment building with hardwood floors, updated units, and a shared backyard plus garage access.
Property Size3,693 SF
Price / SF$203.09
Days on Market9
Property Features for 194 3RD Street
General Information
- Standard status
- Active
- Size
- 3,693 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1920
Listing Agency
KW Platform
Listed by
Kristian Khachadourian
(518) 639-4663
Source
Signatureonerealtygroup
Added: Jul 10 Checked: Jul 18 at 3:18 am
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 KW Platform
Investment Insights
Based on property information with market context.
This historic brick 7-unit apartment building was converted into apartments while preserving original character elements such as original woodwork and hardwood floors throughout. Each unit has been updated over time, with layouts described as generous and offering lots of natural light. The property also includes a large shared yard in back and a garage accessible from Church St.
Located in downtown Troy, the building is positioned for walkability to local amenities and is noted as being steps from Washington Park.
The property is fully rented, supporting immediate income.
Located in downtown Troy, the building is positioned for walkability to local amenities and is noted as being steps from Washington Park.
The property is fully rented, supporting immediate income.
Key Highlights
- Historic brick 7‑unit apartment building built in 1920
- Original characteristics retained, including original woodwork and hardwood floors throughout
- Each apartment has been updated over time; property is well cared for
Local Financial Insights For Apartment 5plus
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 | $75.3k | $20.40 |
| − Vacancy | −$3.6k | −$0.98 |
| EGI | $71.7k | $19.42 |
| − OpEx | −$32.3k | −$8.74 |
| NOI | $39.4k | $10.68 |
3,693 SF · lease $20.40/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$563.5K
$493.1K – $657.5K
NOI $39,447 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,666 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Historic 7-unit brick apartment building with hardwood floors, updated units, and a shared backyard plus garage access.
Where is this apartment building located?
The property is located at 194 3RD Street Troy, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Historic brick 7‑unit apartment building built in 1920; Original characteristics retained, including original woodwork and hardwood floors throughout; Each apartment has been updated over time; property is well cared for
