Seven-Unit Residential Income
2209 16TH Street Troy, NY 12180
2209 16TH Street, Troy, NY, 12180
$750,000
For Sale
$750,000
Seven-unit residential income property on a double lot with recent apartment renovations and a new roof.
Property Size3,384 SF
Price / SF$221.63
Days on Market10
Property Features for 2209 16TH Street
General Information
- Standard status
- Active
- Size
- 3,384 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1890
Listing Agency
KW Platform
Listed by
Kristian Khachadourian
(518) 639-4663
Source
Signatureonerealtygroup
Added: Jul 10 Checked: Jul 18 at 3:20 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 seven-unit residential income property offers an updated income stream, with most apartments renovated in recent years. The building also features a new roof, contributing to its current operating readiness.
The property sits on a double lot and is located across the street from Beman Park, placing it within convenient reach of RPI, downtown Troy, parks, restaurants, shopping, and major highways.
As a residential income asset, the property’s configuration supports long-term rental operations, and the double-lot layout provides additional development opportunity on the site.
The property sits on a double lot and is located across the street from Beman Park, placing it within convenient reach of RPI, downtown Troy, parks, restaurants, shopping, and major highways.
As a residential income asset, the property’s configuration supports long-term rental operations, and the double-lot layout provides additional development opportunity on the site.
Key Highlights
- 7‑unit residential income property built in 1890
- Located across the street from Beman Park
- Situated on a double lot with potential for future development
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 | $69.0k | $20.40 |
| − Vacancy | −$3.3k | −$0.98 |
| EGI | $65.7k | $19.42 |
| − OpEx | −$29.6k | −$8.74 |
| NOI | $36.1k | $10.68 |
3,384 SF · lease $20.40/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$516.4K
$451.8K – $602.4K
NOI $36,146 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$924.0K – $1.23M
NOI $73,917 @ 7.0% cap · market cap 9.86%
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 - Seven-unit residential income property on a double lot with recent apartment renovations and a new roof.
Where is this apartment building located?
The property is located at 2209 16TH 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: 7‑unit residential income property built in 1890; Located across the street from Beman Park; Situated on a double lot with potential for future development
