not syslogd i don't believe, but something more modern like syslog-ng you certainly can.
Code:
destination logip {
file("/archive/logs/HOSTS/$HOST_FROM/$FACILITY/$YEAR$MONTH/${FACILITY}${YEAR}${MONTH}${DAY}"
owner(syslog-ng) group(syslog-ng) perm(0600) dir_perm(0700) create_dirs(yes)
template("$DATE $FULLHOST $PROGRAM $TAG [$FACILITY.$LEVEL] $MESSAGE\n") );
};