Updated Three-Unit Residential
72 Bassett Street Albany, NY 12202
72 Bassett Street, Albany, NY, 12202
$249,999
For Sale
$249,999
Three-unit property with two vacant units ready for occupancy and recent updates throughout the building.
Property Size1,368 SF
Price / SF$182.75
Days on Market47
Property Features for 72 Bassett Street
General Information
- Standard status
- Active
- Size
- 1,368 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1890
Listing agency
CapMark Realty LLC
Listed by
Alexandria Sifontes
(518) 639-4663
Source
Signatureonerealtygroup
Added: Jun 6 Updated: Jul 21 at 12:23PM Checked: Jul 21 at 12:23PM
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 CapMark Realty LLC
Investment Insights
Based on property information with market context.
This updated three-unit residential income property features two units on the first and second floors that are currently vacant, offering immediate move-in or rental flexibility. A basement unit is tenant-occupied, providing active cash flow. Recent updates are noted throughout all three floors, supporting straightforward use as an income-generating property.
The property is located in Albany’s South End and is described as being minutes from Downtown Albany, the Albany Waterfront, and major highway access. The surrounding area is also described as having walkable amenities, including shops, restaurants, parks, public transit, and government offices.
Overall, the building presents a straightforward three-unit configuration with a mix of vacant and tenant-occupied space and is positioned as a fit for investors seeking current income and flexible occupancy options.
The property is located in Albany’s South End and is described as being minutes from Downtown Albany, the Albany Waterfront, and major highway access. The surrounding area is also described as having walkable amenities, including shops, restaurants, parks, public transit, and government offices.
Overall, the building presents a straightforward three-unit configuration with a mix of vacant and tenant-occupied space and is positioned as a fit for investors seeking current income and flexible occupancy options.
Key Highlights
- Three‑unit investment property built in 1890
- 1st and 2nd floor units are vacant, ready for move‑in or immediate rental
- Basement unit is tenant‑occupied with active cash flow
Local 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 | $23.8k | $17.40 |
| − Vacancy | −$1.5k | −$1.13 |
| EGI | $22.3k | $16.27 |
| − OpEx | −$6.7k | −$4.88 |
| NOI | $15.6k | $11.39 |
1,368 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$222.6K
$194.7K – $259.7K
NOI $15,579 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$199.6K
$174.7K – $232.9K
NOI $13,974 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$360.9K
$315.8K – $421.1K
NOI $25,264 @ 7.0% cap · market cap 10.11%
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 property with two vacant units ready for occupancy and recent updates throughout the building.
Where is this triplex located?
The property is located at 72 Bassett Street Albany, NY.
What is the asking price?
The asking price for this property is $249,999.
What are key features of this property?
This property features: Three‑unit investment property built in 1890; 1st and 2nd floor units are vacant, ready for move‑in or immediate rental; Basement unit is tenant‑occupied with active cash flow
