Turnkey Albany Investment
For Sale
$529,900
Pending
64 Elm Street, Albany, NY 12203
MULTI_FAMILY - Other - Albany, NY
Property Size3,680 SF
Lot Size0.04 Acres
Days on Market94
Property Features for 64 Elm Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 5, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 4, Bedroom 1, Bedroom 6, Bathroom 2, Bathroom 3
Window features
Skylight(s)
Interior features
Solid Surface Counters, Paddle Fan, High Speed Internet, Sauna, Built-in Features, Ceramic Tile Bath, Crown Molding
Fireplace
1
Basement
Apartment, Finished, Interior Entry, Walk-Out Access
Lot features
Level
View
City
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
787 Exit Madison Avenue, Left on Eagle, Left on Elm.
Standard status
Pending
APN
010100 76.49-1-40
Size
3,680 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
7573
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1858
Number of units
3
Flooring type
Carpet, Wood, Tile - Ceramic
Building materials
Brick
Roof type
Rubber
Architectural style
Other
Listing Agency:
Clancy Real Estate
(518) 861-7016
Listed By:
Kevin Clancy · License #37CL1081409
(518) 461-9937
Added: Apr 29
Changed: Jul 24
Last Checked: Jul 31 at 2:06AM
MLS# 202616010
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.
This turnkey three-unit property on Elm Street in Albany, New York, presents an investment opportunity with income potential and options for owner-occupancy. The property features a common furnace, separate laundry hookups in each unit, and a fully fireproofed basement unit compliant with Albany codes. The main unit showcases Italianate charm with modern updates, including vaulted ceilings, a skylight, exposed brick and beams, hardwood floors, a wood-burning fireplace, and an updated kitchen with Jenn-Air appliances. Spa-like features include a whirlpool tub and sauna. The property includes views, a private patio, and a backyard with mature trees and wildlife. Street parking is available nearby. The property is located close to the Governors mansion. The lot size is 0.04 acres, and the property size is 3,680 square feet. This property is suitable for investors seeking cash flow or owner-occupants looking to offset their mortgage with rental income.
Key Highlights
- 3‑unit property at 64 Elm Street built in 1858 with brick construction and a rubber roof
- Owner/main unit features vaulted ceilings, skylight, exposed brick and beams, hardwood floors, and a wood‑burning fireplace
- Updated kitchen with Jenn‑Air appliances plus solid surface counters and built‑in features
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 | $64.0k | $17.40 |
| − Vacancy | −$4.2k | −$1.13 |
| EGI | $59.9k | $16.27 |
| − OpEx | −$18.0k | −$4.88 |
| NOI | $41.9k | $11.39 |
3,680 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$598.7K
$523.9K – $698.5K
NOI $41,909 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$537.0K
$469.9K – $626.5K
NOI $37,591 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$970.9K
$849.5K – $1.13M
NOI $67,962 @ 7.0% cap · market cap 12.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,909
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-unit property with income potential and owner-occupant options.
Where is this triplex located?
The property is located at 64 Elm Street Albany, NY.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: 3‑unit property at 64 Elm Street built in 1858 with brick construction and a rubber roof; Owner/main unit features vaulted ceilings, skylight, exposed brick and beams, hardwood floors, and a wood‑burning fireplace; Updated kitchen with Jenn‑Air appliances plus solid surface counters and built‑in features
