Multifamily Investment
For Sale
$184,999
300 3RD Street, Albany, NY 12206
Residential income multifamily property offered for sale in Albany, New York, sold as-is.
Property Size1,400 SF
Price / SF$132.14
Days on Market83
Property Features for 300 3RD Street
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Multi-family
Building Details
Year Built
1930
Listing Agency:
M J J Realty
Listed By:
Shawn D Clark Sr
(518) 639-4663
Source:
Signatureonerealtygroup
Added: May 10
Changed: Jul 10
Last Checked: Jul 30 at 6:03PM
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 M J J Realty
Investment Insights
Based on property information with market context.
This residential income multifamily property is offered for sale as-is, making it suited for investors who are comfortable underwriting and executing with minimal seller-provided updates. Interested parties should note that showings require a pre-approval letter or bank statement before appointments are confirmed.
The property is located at 300 3RD Street in Albany, New York 12206. The listing information provided does not include additional building specifics such as unit count, interior condition, or layout.
For buyers seeking to start or expand an investment portfolio, this offering provides a straightforward path to ownership on an as-is basis. Because access for tours is contingent on financial documentation, it’s recommended that prospective buyers prepare the required pre-approval letter or bank statement ahead of time to streamline scheduling.
The property is located at 300 3RD Street in Albany, New York 12206. The listing information provided does not include additional building specifics such as unit count, interior condition, or layout.
For buyers seeking to start or expand an investment portfolio, this offering provides a straightforward path to ownership on an as-is basis. Because access for tours is contingent on financial documentation, it’s recommended that prospective buyers prepare the required pre-approval letter or bank statement ahead of time to streamline scheduling.
Key Highlights
- Residential income multifamily property for sale in Albany, New York
- Year built: 1930
- Sold as‑is
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 | $27.7k | $19.80 |
| − Vacancy | −$1.7k | −$1.23 |
| EGI | $26.0k | $18.57 |
| − OpEx | −$11.7k | −$8.36 |
| NOI | $14.3k | $10.21 |
1,400 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$204.3K
$178.8K – $238.4K
NOI $14,301 @ 7.0% cap · market cap 7.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$369.4K
$323.2K – $430.9K
NOI $25,855 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,374
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Residential income multifamily property offered for sale in Albany, New York, sold as-is.
Where is this multifamily property located?
The property is located at 300 3RD Street Albany, NY.
What is the asking price?
The asking price for this property is $184,999.
What are key features of this property?
This property features: Residential income multifamily property for sale in Albany, New York; Year built: 1930; Sold as‑is
