Three-Unit Residential Income
40 Frost Place Albany, NY 12205
40 Frost Place, Albany, NY, 12205
$299,900
Pending
For Sale
$299,900
Pending
Fully occupied triplex with two garage spaces and four total off-street parking spots, featuring shared yard and tenant utilities.
Property Size2,000 SF
Days on Market22
Property Features for 40 Frost Place
General Information
- Standard status
- Pending
- Size
- 2,000 SF
- Property subtype
- Multi Family / Triplex
Building Details
- Year Built
- 1940
Listing agency
Veno Properties
(518) 337-6557
Listed by
Erica L Vienneau · License #10491207645
(518) 337-6557
Source
Compass
Added: Jul 1 Updated: Jul 22 at 1:36PM Checked: Jul 22 at 1:36PM
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 Veno Properties
Investment Insights
Based on property information with market context.
This three-unit residential income property includes three occupied apartments: a first-floor 2-bedroom, 1-bath unit; an upstairs studio/efficiency apartment; and an upstairs 1-bedroom, 1-bath apartment. The first-floor unit also has use of the breezeway space between the house and garage. Tenants share a large yard, and the property includes a washer and dryer that belong to the tenants of the first-floor unit.
There are 2 garage spaces for the owner, plus 2 off-street parking spaces. Tenants pay heat, hot water, and electric, with 2 units using gas heat and 1 unit using electric. The owner pays sewer, water, and garbage.
The three units are currently occupied, and the stated rent roll is $3,150.
There are 2 garage spaces for the owner, plus 2 off-street parking spaces. Tenants pay heat, hot water, and electric, with 2 units using gas heat and 1 unit using electric. The owner pays sewer, water, and garbage.
The three units are currently occupied, and the stated rent roll is $3,150.
Key Highlights
- Fully occupied 3‑unit triplex with rent roll listed at $3,150
- Unit mix: 1st‑floor 2 bed/1 bath; upstairs includes 1 studio/efficiency and 1 large 1 bed/1 bath
- Tenants receive use of the breezeway space between the house and garage (per remarks)
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 | $34.8k | $17.40 |
| − Vacancy | −$2.3k | −$1.13 |
| EGI | $32.5k | $16.27 |
| − OpEx | −$9.8k | −$4.88 |
| NOI | $22.8k | $11.39 |
2,000 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$325.4K
$284.7K – $379.6K
NOI $22,777 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$291.9K
$255.4K – $340.5K
NOI $20,430 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$527.7K
$461.7K – $615.6K
NOI $36,936 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Fully occupied triplex with two garage spaces and four total off-street parking spots, featuring shared yard and tenant utilities.
Where is this triplex located?
The property is located at 40 Frost Place Albany, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Fully occupied 3‑unit triplex with rent roll listed at $3,150; Unit mix: 1st‑floor 2 bed/1 bath; upstairs includes 1 studio/efficiency and 1 large 1 bed/1 bath; Tenants receive use of the breezeway space between the house and garage (per remarks)
