Three-Unit Residential Income
5 Myrtle Avenue Albany, NY 12202
5 Myrtle Avenue, Albany, NY, 12202
$289,000
For Sale
$289,000
Three-unit property with income potential in a central location.
Property Size2,394 SF
Price / SF$120.72
Days on Market129
Property Features for 5 Myrtle Avenue
General Information
- Standard status
- Active
- Size
- 2,394 SF
- Property subtype
- Multi Family / Triplex
Building Details
- Year Built
- 1850
Listing Agency
Kastle Realty LLC
(518) 833-3903
Listed by
Ana Zairy Castillo Penalo · License #11049121359
(518) 833-3903
Source
Compass
Added: Mar 10 Checked: Jul 15 at 9:37 pm
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 Kastle Realty LLC
Investment Insights
Based on property information with market context.
This three-family home presents an opportunity for investment or owner-occupancy with cash flow potential. The property features three units, each containing three bedrooms and three full bathrooms. Units 2 and 3 are characterized by high ceilings. The property is well-maintained and offers income potential due to its central location.
Key Highlights
- Three separate units offer income potential or multi‑generational living.
- Each unit features 3 bedrooms and 3 full bathrooms.
- Centric location provides convenient access to amenities.
Local 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 | $47.4k | $19.80 |
| − Vacancy | −$2.9k | −$1.23 |
| EGI | $44.5k | $18.57 |
| − OpEx | −$20.0k | −$8.36 |
| NOI | $24.5k | $10.21 |
2,394 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$389.5K
$340.8K – $454.4K
NOI $27,264 @ 7.0% cap · market cap 9.43%
Second Best
Apartment 5plus
$349.3K
$305.7K – $407.6K
NOI $24,454 @ 7.0% cap · market cap 8.46%
Theoretical Best
Office A
$631.6K
$552.7K – $736.9K
NOI $44,212 @ 7.0% cap · market cap 15.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit property with income potential in a central location.
Where is this triplex located?
The property is located at 5 Myrtle Avenue Albany, NY.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Three separate units offer income potential or multi‑generational living.; Each unit features 3 bedrooms and 3 full bathrooms.; Centric location provides convenient access to amenities.
