Updated Three-Unit
New
For Sale
$460,000
346 Hudson Avenue, Albany, NY 12210
A vacant basement apartment offers flexibility alongside two additional residential units.
Property Size2,222 SF
Price / SF$207.02
Days on Market7
Property Features for 346 Hudson Avenue
General Information
Standard status
Active
Size
2,222 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Amenities
shared basement laundry
Building Details
Year Built
1885
Listing Agency:
Miranda Real Estate Group Inc
Listed By:
Amanda L Hart
(518) 348-2060
Source:
Signatureonerealtygroup
Added: Oct 14
Changed: Oct 19
Last Checked: Oct 19 at 2:43PM
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 Miranda Real Estate Group Inc
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Investment Insights
Based on property information with market context.
This 2,222-square-foot triplex, built in 1885, contains three units, including a vacant apartment in the basement. The basement and second-floor apartments have updated kitchens with stainless steel appliances and updated bathrooms. Hardwood flooring runs through the first and second floors, while the lower-level unit has tile flooring. Shared laundry is located in the basement. The property also has a new roof and sewer line.
At 346 Hudson Avenue in Albany, the property is near Washington Park, Albany Medical Center, St. Peter's Hospital, SUNY Albany, Lark Street, downtown Albany, state offices, and the Capitol. Nearby amenities include coffee shops, restaurants, art galleries, and nightlife.
At 346 Hudson Avenue in Albany, the property is near Washington Park, Albany Medical Center, St. Peter's Hospital, SUNY Albany, Lark Street, downtown Albany, state offices, and the Capitol. Nearby amenities include coffee shops, restaurants, art galleries, and nightlife.
Key Highlights
- Three‑unit residential property with a vacant basement apartment
- 2,222 square feet; built in 1885
- Updated kitchens with stainless steel appliances and bathrooms in the basement and second‑floor units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,305
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$506,100
$506.1K
Cap Rate 7%
$361,500
$361.5K
Cap Rate 9%
$281,167
$281.2K
Market Conditions
NOI Build-Up for 2,222 SF
Gross rent
$38.7K $17.40/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$36.1K $16.27/SF
− OpEx
−$10.8K −$4.88/SF
NOI
$25.3K $11.39/SF
Area
Albany, NY
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$506,100
Cap Rate 7%
$361,500
Cap Rate 9%
$281,167
Alternative Uses
Best Use
Multifamily LT 5
$361.5K
$316.3K – $421.8K
NOI $25,305 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$324.2K
$283.7K – $378.3K
NOI $22,697 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$586.2K
$513.0K – $683.9K
NOI $41,036 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,369
Businesses Nearby
Explore this area
Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - A vacant basement apartment offers flexibility alongside two additional residential units.
Where is this triplex located?
The property is located at 346 Hudson Avenue Albany, NY.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Three‑unit residential property with a vacant basement apartment; 2,222 square feet; built in 1885; Updated kitchens with stainless steel appliances and bathrooms in the basement and second‑floor units
