Turn-Key Triplex
350 Madison Avenue Albany, NY 12210
350 Madison Avenue, Albany, NY, 12210
$424,900
For Sale
$424,900
Updated triplex with one- and three-bedroom units, full baths, and appliances included for low-maintenance operations.
Property Size3,300 SF
Price / SF$128.76
Days on Market258
Property Features for 350 Madison Avenue
General Information
- Standard status
- Active
- Size
- 3,300 SF
- Property subtype
- Multi Family / Triplex
Building Details
- Year Built
- 1876
Listing agency
Empire Real Estate Firm LLC
(518) 424-0923
Listed by
Matthew Kupiec · License #10401283821
(518) 424-0923
Source
Compass
Added: Nov 5, 2025 Updated: Jul 21 at 6:57AM Checked: Jul 21 at 6:57AM
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 Empire Real Estate Firm LLC
Investment Insights
Based on property information with market context.
This turn-key triplex has been updated throughout and includes a brand new roof. The basement unit offers one bedroom and one full bath, while the 1st floor unit is configured with two bedrooms and one full bath. The 2nd/3rd floor unit provides three bedrooms and one full bath. Living areas and bedrooms feature ceiling fans, and the property has numerous updates including flooring, kitchens and baths, and many newer windows.
Additional improvements include a brand new rear deck and stairs. Water heaters and refrigerators on the 1st and 2nd floors have been installed within the last two years. All appliances stay, including a washer/dryer in two of the three units, supporting a ready-to-occupy setup for either an investment or owner-occupant scenario.
Additional improvements include a brand new rear deck and stairs. Water heaters and refrigerators on the 1st and 2nd floors have been installed within the last two years. All appliances stay, including a washer/dryer in two of the three units, supporting a ready-to-occupy setup for either an investment or owner-occupant scenario.
Key Highlights
- Triplex built in 1876 with 1 BR basement unit, 2 BR first‑floor unit, and 3 BR second/third‑floor unit
- Each unit includes 1 full bath, plus ceiling fans in living areas and bedrooms
- Brand new roof; numerous updates including flooring and kitchens & baths, along with newer windows
Local Financial Insights For Multifamily LT 5
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 | $57.4k | $17.40 |
| − Vacancy | −$3.7k | −$1.13 |
| EGI | $53.7k | $16.27 |
| − OpEx | −$16.1k | −$4.88 |
| NOI | $37.6k | $11.39 |
3,300 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$536.9K
$469.8K – $626.4K
NOI $37,581 @ 7.0% cap · market cap 8.84%
Second Best
Apartment 5plus
$481.6K
$421.4K – $561.8K
NOI $33,709 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$870.6K
$761.8K – $1.02M
NOI $60,944 @ 7.0% cap · market cap 14.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Updated triplex with one- and three-bedroom units, full baths, and appliances included for low-maintenance operations.
Where is this triplex located?
The property is located at 350 Madison Avenue Albany, NY.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Triplex built in 1876 with 1 BR basement unit, 2 BR first‑floor unit, and 3 BR second/third‑floor unit; Each unit includes 1 full bath, plus ceiling fans in living areas and bedrooms; Brand new roof; numerous updates including flooring and kitchens & baths, along with newer windows
