Six-Unit Residential Income
278-280 4th Street Troy, NY 12180
278-280 4th Street, Troy, NY, 12180
$688,000
For Sale
$688,000
Six residential units feature separate utilities and a shared backyard, with a mix of 2- and 3-bedroom layouts.
Property Size5,121 SF
Price / SF$134.35
Days on Market118
Property Features for 278-280 4th Street
General Information
- Standard status
- Active
- Size
- 5,121 SF
- Property subtype
- Multi Family / Multi Family
Building Details
- Year Built
- 1890
Listing agency
Lincoln House Realty
(518) 443-9701
Listed by
Cristhian Astorga · License #10401387776
(518) 443-9701
Source
Compass
Added: Mar 27 Updated: Jul 21 at 5:35AM Checked: Jul 21 at 5:35AM
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 Lincoln House Realty
Investment Insights
Based on property information with market context.
278-280 4th Street is a six-unit residential income building arranged with a mix of 2-bedroom and 3-bedroom units. The property has separate utilities for all units, supporting straightforward expense allocation. Many of the units have been recently renovated, helping reduce near-term capital needs while improving tenant appeal. Residents also have access to a shared backyard.
The building is located in Little Italy in Troy and is described as being about half a block from DeFazio's Pizzeria, with downtown Troy restaurants, shops, the farmers market, and entertainment options nearby. The remarks also note convenient access to major roadways for commuting.
For investors, the property is included as part of a 14-unit portfolio being offered together. The portfolio details shared the theme of separate utilities across all units and is positioned as a concentrated set of buildings within close walking distance of one another.
The building is located in Little Italy in Troy and is described as being about half a block from DeFazio's Pizzeria, with downtown Troy restaurants, shops, the farmers market, and entertainment options nearby. The remarks also note convenient access to major roadways for commuting.
For investors, the property is included as part of a 14-unit portfolio being offered together. The portfolio details shared the theme of separate utilities across all units and is positioned as a concentrated set of buildings within close walking distance of one another.
Key Highlights
- Six‑unit multi‑family with a mix of 2‑bed and 3‑bed units
- Separate utilities for all units, supporting straightforward expense allocation
- Shared fenced backyard plus a garden area for tenant outdoor access
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 | $104.5k | $20.40 |
| − Vacancy | −$5.0k | −$0.98 |
| EGI | $99.5k | $19.42 |
| − OpEx | −$44.8k | −$8.74 |
| NOI | $54.7k | $10.68 |
5,121 SF · lease $20.40/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$781.4K
$683.8K – $911.7K
NOI $54,700 @ 7.0% cap · market cap 7.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,858 @ 7.0% cap · market cap 16.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Six residential units feature separate utilities and a shared backyard, with a mix of 2- and 3-bedroom layouts.
Where is this apartment building located?
The property is located at 278-280 4th Street Troy, NY.
What is the asking price?
The asking price for this property is $688,000.
What are key features of this property?
This property features: Six‑unit multi‑family with a mix of 2‑bed and 3‑bed units; Separate utilities for all units, supporting straightforward expense allocation; Shared fenced backyard plus a garden area for tenant outdoor access
