Three-Unit Multifamily
New
For Sale
$387,000
53 Pleasantview Avenue, Albany, NY 12203
MultiFamily, Albany, NY
Property Size2,024 SF
Lot Size0.08 Acres
Price / SF$191.21
Days on Market5
Property Features for 53 Pleasantview Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 2, Bedroom 3, Bathroom 2
Parking
3
Parking features
Driveway
Basement
Finished, Apartment, Full
Lot features
Level
Elementary school
Eagle Point
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Western Ave to Magazine Street to Pleasant View Ave.
Standard status
Active
APN
010100 64.29-2-80
Size
2,024 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
7659
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Forced Air, Baseboard, Natural Gas
Water source
Public
Amenities
coin-operated washer and dryer
Building Details
Year built
1950
Number of units
3
Flooring type
Hardwood, Linoleum, Laminate, Tile - Ceramic
Building materials
Aluminum Siding, Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Howard Hanna Capital Inc
(518) 286-1000
Listed By:
Daisy L Hamilton Blair · License #10301214491
(518) 275-9486
Added: Aug 26
Changed: Aug 27
Last Checked: Aug 30 at 2:06AM
MLS# 202624840
Copyright © 2026 Global MLS, Inc. 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 1950, this 2,024-square-foot triplex contains two upper-level residences and a lower-level apartment. Each upper unit includes two bedrooms, one full bathroom, a living room, kitchen, dining area, and hardwood flooring. The basement apartment provides one bedroom, one bathroom, and a living area, with updated finishes noted in the property information.
Building improvements include a new roof and updated windows. Heating is provided through two boilers and a new forced-air furnace, with natural gas service. The basement also includes newer coin-operated laundry equipment. Each residence has one dedicated driveway parking space.
The property is in Albany near SUNY and local hospitals. Public water and public sewer serve the building, which has aluminum siding and brick construction elements on a 0.08-acre lot.
Building improvements include a new roof and updated windows. Heating is provided through two boilers and a new forced-air furnace, with natural gas service. The basement also includes newer coin-operated laundry equipment. Each residence has one dedicated driveway parking space.
The property is in Albany near SUNY and local hospitals. Public water and public sewer serve the building, which has aluminum siding and brick construction elements on a 0.08-acre lot.
Key Highlights
- Triplex with 2,024 square feet and three residential units
- Unit mix includes two 2‑bedroom units and one 1‑bedroom basement apartment
- Five bedrooms and three bathrooms across the property
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
$23,050
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
5.96%
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%
$461,000
$461.0K
Cap Rate 7%
$329,286
$329.3K
Cap Rate 9%
$256,111
$256.1K
Market Conditions
NOI Build-Up for 2,024 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
$35.2K $17.40/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$32.9K $16.27/SF
− OpEx
−$9.9K −$4.88/SF
NOI
$23.0K $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%
$461,000
Cap Rate 7%
$329,286
Cap Rate 9%
$256,111
Alternative Uses
Best Use
Multifamily LT 5
$329.3K
$288.1K – $384.2K
NOI $23,050 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$295.4K
$258.4K – $344.6K
NOI $20,675 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$534.0K
$467.2K – $623.0K
NOI $37,379 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Explore this area
Business Placement
Demographics for 12203, NY
28,210
Population
14,755
Households
1.9
Avg Household Size
38
Median Age
54%
College-Educated
95%
High-School Grad
10.4 sq mi
ZIP Area
2,713
Density / Sq Mi
$80,055
Median Household Income
$44,412
Median Earnings
$1,342
Median Rent
$258,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residences offer five bedrooms, three bathrooms, dedicated parking, and shared basement laundry facilities.
Where is this triplex located?
The property is located at 53 Pleasantview Avenue Albany, NY.
What is the asking price?
The asking price for this property is $387,000.
What are key features of this property?
This property features: Triplex with 2,024 square feet and three residential units; Unit mix includes two 2‑bedroom units and one 1‑bedroom basement apartment; Five bedrooms and three bathrooms across the property
