3-Unit Triplex with
For Sale
$429,000
Pending
669 Washington Avenue, Albany, NY 12206
Three residential units are paired with separate utilities and front and rear porch areas.
Property Size3,070 SF
Days on Market231
Property Features for 669 Washington Avenue
General Information
Standard status
Pending
Size
3,070 SF
Total Parking Spaces
4
Property subtype
Multi Family / Triplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,715
Amenities
Hot Water, Natural Gas, Yes
Exterior Entry, Full, Heated, Interior Entry
Carpet, Hardwood, Linoleum
Paddle Fan
Brick/Mortar
Aluminum Siding, Vinyl Siding
In Basement
Garage(s)
Other, Smoke Detector(s), Carbon Monoxide Detector(s)
Screened, Rear Porch, Covered, Enclosed, Front Porch
Building Details
Year Built
1900
Listing Agency:
All in 1 Realty LLC
(518) 269-0789
Listed By:
Armando Valdes · License #10401328120
(518) 269-0789
Source:
Compass
Added: Jan 12
Changed: Aug 31
Last Checked: Aug 31 at 1:41AM
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 All in 1 Realty LLC
Investment Insights
Based on property information with market context.
Located at 669 Washington Avenue in Albany, this triplex contains three residential units within a 1900-built property. The apartments include living areas, kitchens, and bedrooms, with a mix of hardwood, carpet, and linoleum flooring. Brick and mortar construction is complemented by aluminum and vinyl siding, while smoke and carbon monoxide detectors are installed throughout the property.
The building includes separate utilities, garage space, and a full heated basement with exterior and interior entry. Exterior amenities include a screened rear porch and covered, enclosed front porch areas. Shopping, dining, schools, hospitals, and major highways are located nearby, providing access to established daily-service and transportation options in the Capital Region.
The building includes separate utilities, garage space, and a full heated basement with exterior and interior entry. Exterior amenities include a screened rear porch and covered, enclosed front porch areas. Shopping, dining, schools, hospitals, and major highways are located nearby, providing access to established daily-service and transportation options in the Capital Region.
Key Highlights
- Three residential units in a single triplex property
- Separate utilities for the apartments
- Full heated basement with interior and exterior entry
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
$34,962
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
8.15%
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%
$699,240
$699.2K
Cap Rate 7%
$499,457
$499.5K
Cap Rate 9%
$388,467
$388.5K
Market Conditions
NOI Build-Up for 3,070 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
$53.4K $17.40/SF
− Vacancy
−$3.5K −$1.13/SF
EGI
$49.9K $16.27/SF
− OpEx
−$15.0K −$4.88/SF
NOI
$35.0K $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%
$699,240
Cap Rate 7%
$499,457
Cap Rate 9%
$388,467
Alternative Uses
Best Use
Multifamily LT 5
$499.5K
$437.0K – $582.7K
NOI $34,962 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$448.0K
$392.0K – $522.7K
NOI $31,359 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$810.0K
$708.7K – $945.0K
NOI $56,697 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
409
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
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 residential units are paired with separate utilities and front and rear porch areas.
Where is this triplex located?
The property is located at 669 Washington Avenue Albany, NY.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Three residential units in a single triplex property; Separate utilities for the apartments; Full heated basement with interior and exterior entry
