Brick Triplex with Separate
For Sale
$425,000
4 View, Albany, NY 12209
Residential Income, Albany, NY
Property Size3,145 SF
Lot Size0.07 Acres
Price / SF$135.14
Days on Market16
Property Features for 4 View
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 1, Bathroom 1, Bedroom 5, Bathroom 3
Interior features
Walk-In Closet(s)
High school district
ALBANY CITY SCHOOL DISTRICT
Directions
Take Rensselaer St and Morton Ave to View Ave
Standard status
Active
APN
010100 76.54-3-32
Size
3,145 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
8496
Utilities
Heating system
Hot Water(Heating)
Water source
Other
Building Details
Year built
1927
Listing Agency:
HOWARD HANNA CAPITAL INC
(518) 371-4500
Listed By:
Joseph Cardinale · License #10401290174
(518) 755-2064
Added: Sep 16
Changed: Oct 1
Last Checked: Oct 1 at 5:06PM
MLS# 11968987
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1927, this brick triplex contains approximately 3,145 square feet of above-grade living space across three separate units. The layout includes a three-bedroom first-floor residence and two one-bedroom units, each with a full bathroom. The main unit includes living and dining rooms, a kitchen, laundry room, hardwood floors, approximately 9-foot ceilings, and a cedar-lined walk-in closet. Kitchen appliances include a refrigerator, wall oven, and dishwasher.
A full unfinished basement with exterior walk-out access adds storage and utility space, with dual sump pumps and a backup system. Each unit has separate utilities, including three gas meters, three electric panels, and three gas-fired hot water heating systems; each panel is approximately 100 amps. Public water and sewer serve the property. The 0.07-acre parcel is in Albany, with access to shopping, dining, transportation, employment centers, schools, downtown Albany, and the surrounding Capital Region. Some asbestos is present and requires appropriate evaluation and handling.
A full unfinished basement with exterior walk-out access adds storage and utility space, with dual sump pumps and a backup system. Each unit has separate utilities, including three gas meters, three electric panels, and three gas-fired hot water heating systems; each panel is approximately 100 amps. Public water and sewer serve the property. The 0.07-acre parcel is in Albany, with access to shopping, dining, transportation, employment centers, schools, downtown Albany, and the surrounding Capital Region. Some asbestos is present and requires appropriate evaluation and handling.
Key Highlights
- Three‑unit configuration with one 3‑bedroom residence and two 1‑bedroom units
- Approximately 3,145 square feet of above‑grade living space on a 0.07‑acre parcel
- Separate utilities include three gas meters, three electric panels, and three gas‑fired hot water heating systems
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,816
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$716,320
$716.3K
Cap Rate 7%
$511,657
$511.7K
Cap Rate 9%
$397,956
$398.0K
Market Conditions
NOI Build-Up for 3,145 SF
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.
Gross rent
$54.7K $17.40/SF
− Vacancy
−$3.6K −$1.13/SF
EGI
$51.2K $16.27/SF
− OpEx
−$15.3K −$4.88/SF
NOI
$35.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$716,320
Cap Rate 7%
$511,657
Cap Rate 9%
$397,956
Alternative Uses
Best Use
Multifamily LT 5
$511.7K
$447.7K – $596.9K
NOI $35,816 @ 7.0% cap · market cap 8.43%
Second Best
Apartment 5plus
$458.9K
$401.6K – $535.4K
NOI $32,126 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$829.7K
$726.0K – $968.0K
NOI $58,082 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,208
Businesses Nearby
Explore this area
Business Placement
Demographics for 12209, NY
10,231
Population
4,768
Households
2.1
Avg Household Size
37
Median Age
46%
College-Educated
88%
High-School Grad
2.2 sq mi
ZIP Area
4,650
Density / Sq Mi
$81,642
Median Household Income
$51,848
Median Earnings
$1,165
Median Rent
$200,800
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit brick property with distinct utility systems, public services, and a flexible mix of one- and three-bedroom residences.
Where is this triplex located?
The property is located at 4 View Albany, NY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Three‑unit configuration with one 3‑bedroom residence and two 1‑bedroom units; Approximately 3,145 square feet of above‑grade living space on a 0.07‑acre parcel; Separate utilities include three gas meters, three electric panels, and three gas‑fired hot water heating systems
