Brick Multi-Unit Residential
7 Wilbur Street Albany, NY 12202
7 Wilbur Street, Albany, NY, 12202
$300,000
For Sale
$300,000
Three-unit brick building with hardwood floors on upper levels, separate electric meters, and a large yard.
Property Size2,496 SF
Price / SF$120.19
Days on Market564
Property Features for 7 Wilbur Street
General Information
- Standard status
- Active
- Size
- 2,496 SF
- Property subtype
- Multi Family / Triplex
Building Details
- Year Built
- 1870
Listing agency
KW Platform
(518) 937-3252
Listed by
Luke Khachadourian · License #10301219050
(518) 937-3252
Source
Compass
Added: Jan 5, 2025 Updated: Jul 22 at 11:49AM Checked: Jul 22 at 11:49AM
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 KW Platform
Investment Insights
Based on property information with market context.
Huge brick three-unit property located in Albany’s Mansion Historic District. The 2nd and 3rd floors feature hardwood floors and spacious layouts, including a 3-bedroom unit and a 4-bedroom unit.
The garden level unit is currently framed and ready to be completed, with electrical and plumbing roughed in. The building also has updated doors and windows, and the units are separately metered.
A large yard and a quiet street setting add to the overall utility of the property.
The garden level unit is currently framed and ready to be completed, with electrical and plumbing roughed in. The building also has updated doors and windows, and the units are separately metered.
A large yard and a quiet street setting add to the overall utility of the property.
Key Highlights
- Huge brick 3‑unit property in Albany’s Mansion Historic District, built in 1870
- Hardwood floors throughout the 2nd and 3rd floors
- Separate electric meters for the units
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 | $49.4k | $19.80 |
| − Vacancy | −$3.1k | −$1.23 |
| EGI | $46.4k | $18.57 |
| − OpEx | −$20.9k | −$8.36 |
| NOI | $25.5k | $10.21 |
2,496 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$406.1K
$355.3K – $473.8K
NOI $28,425 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$364.2K
$318.7K – $424.9K
NOI $25,496 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$658.5K
$576.2K – $768.3K
NOI $46,096 @ 7.0% cap · market cap 15.37%
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 - Three-unit brick building with hardwood floors on upper levels, separate electric meters, and a large yard.
Where is this triplex located?
The property is located at 7 Wilbur Street Albany, NY.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Huge brick 3‑unit property in Albany’s Mansion Historic District, built in 1870; Hardwood floors throughout the 2nd and 3rd floors; Separate electric meters for the units
