Seven-Unit Residential Income
For Sale
$675,000
2209 16TH Street, Troy, NY 12180
Seven-unit residential income property on a double lot with recent apartment renovations and a new roof.
Property Size3,384 SF
Price / SF$199.47
Days on Market127
Property Features for 2209 16TH Street
General Information
Standard status
Active
Size
3,384 SF
Property subtype
Multi-family
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
7
Building Details
Year Built
1890
Listing Agency:
KW Platform
Listed By:
Kristian Khachadourian · License #10401303476
(518) 937-4124
Source:
Signatureonerealtygroup
Added: Jun 6
Changed: Oct 10
Last Checked: Oct 10 at 1:16AM
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,076
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$821,520
$821.5K
Cap Rate 7%
$586,800
$586.8K
Cap Rate 9%
$456,400
$456.4K
Market Conditions
NOI Build-Up for 3,384 SF
Gross rent
$78.8K $23.28/SF
− Vacancy
−$4.1K −$1.21/SF
EGI
$74.7K $22.07/SF
− OpEx
−$33.6K −$9.93/SF
NOI
$41.1K $12.14/SF
Area
Rensselaer County, NY
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$821,520
Cap Rate 7%
$586,800
Cap Rate 9%
$456,400
Alternative Uses
Best Use
Apartment 5plus
$586.8K
$513.5K – $684.6K
NOI $41,076 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$845.9K
$740.2K – $986.9K
NOI $59,216 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
7
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,217
Businesses Nearby
Explore this area
Business Placement
Demographics for 12180, NY
55,907
Population
25,527
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
90%
High-School Grad
56.2 sq mi
ZIP Area
995
Density / Sq Mi
$73,767
Median Household Income
$41,787
Median Earnings
$1,188
Median Rent
$233,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
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 $675,000.
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
