Three-Unit Residential
For Sale
$270,000
8 Alexander Street, Albany, NY 12202
Three separate apartments provide a mix of two-bedroom and one-bedroom layouts.
Property Size1,200 SF
Price / SF$225
Days on Market12
Property Features for 8 Alexander Street
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Multi-family
Property Condition
Severity
Repairs Needed
Evidence
needs some rehab
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR, 1 x 1BR
Multifamily Units
3
Building Details
Year Built
1861
Listing Agency:
Realty One Group Key
Listed By:
Jamila Belton · License #10401282078
(518) 708-3838
Source:
Signatureonerealtygroup
Added: Oct 4
Changed: Oct 15
Last Checked: Oct 14 at 11:16PM
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 Realty One Group Key
Investment Insights
Based on property information with market context.
This three-unit residential property contains two two-bedroom apartments and a larger one-bedroom garden-level unit. The building dates to 1861 and needs rehabilitation. A new roof and windows are in place.
The property is at 8 Alexander Street in Albany, with bus lines nearby and highway access a short drive away. It is offered in as-is condition.
The property is at 8 Alexander Street in Albany, with bus lines nearby and highway access a short drive away. It is offered in as-is condition.
Key Highlights
- Three units: two 2‑bedroom apartments and one large 1‑bedroom garden‑level apartment
- New roof and windows
- Built in 1861; rehabilitation needed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,666
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,320
$273.3K
Cap Rate 7%
$195,229
$195.2K
Cap Rate 9%
$151,844
$151.8K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$20.9K $17.40/SF
− Vacancy
−$1.4K −$1.13/SF
EGI
$19.5K $16.27/SF
− OpEx
−$5.9K −$4.88/SF
NOI
$13.7K $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 Rate 5%
$273,320
Cap Rate 7%
$195,229
Cap Rate 9%
$151,844
Alternative Uses
Best Use
Multifamily LT 5
$195.2K
$170.8K – $227.8K
NOI $13,666 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$175.1K
$153.2K – $204.3K
NOI $12,258 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$316.6K
$277.0K – $369.4K
NOI $22,162 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Explore this area
Business Placement
Demographics for 12202, NY
10,257
Population
5,434
Households
1.9
Avg Household Size
34
Median Age
33%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
5,129
Density / Sq Mi
$49,684
Median Household Income
$34,656
Median Earnings
$1,012
Median Rent
$139,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate apartments provide a mix of two-bedroom and one-bedroom layouts.
Where is this triplex located?
The property is located at 8 Alexander Street Albany, NY.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Three units: two 2‑bedroom apartments and one large 1‑bedroom garden‑level apartment; New roof and windows; Built in 1861; rehabilitation needed
