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Key Details
Property Type Commercial
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 9,684 sqft
Price per Sqft $25
MLS Listing ID B1698331
Construction Status Existing
HOA Y/N No
Year Built 1910
Annual Tax Amount $9,614
Lot Size 10,001 Sqft
Acres 0.2296
Lot Dimensions 50X200
Property Sub-Type Apartment
Property Description
We are pleased to present a rare opportunity to acquire an income-producing, all-brick property in one of Buffalo's most recognizable and walkable urban corridors. Currently holding a Net Operating Income (NOI) of $67,360 at current occupancy (87%) with a potential projected NOI up to $96,716 at 100% occupancy. The asset is ideally positioned on the Elmwood Strip between Elmwood Village and Allentown, the property benefits from strong neighborhood visibility, convenient access to shops, restaurants, cafes, cultural destinations, and nearby employment anchors, including the Buffalo Niagara Medical Campus and Oishei Children's Hospital.
The property is currently configured as a three-story lodging house with 16 rentable rooms, offering investors an established income stream with multiple occupancy options. Six rooms include private bathrooms, while the remaining rooms are supported by shared bathrooms located throughout the building. With approximately 9,684 square feet, the building provides substantial scale for continued operation as a cash-flowing rental asset, while also presenting potential long-term upside through repositioning, renovation, or possible conversion into larger apartment-style units, subject to applicable approvals.
Located in the vibrant Elmwood Bryant area, the property sits within a neighborhood known for its walkability, historic architecture, independent businesses, restaurants, coffee shops, galleries, and active street life. This central location is a key demand driver for renters seeking convenient access to daily amenities, entertainment, public transit, and major Buffalo destinations. For investors, the combination of an irreplaceable urban location, existing rental income, and flexible future use potential makes this a compelling offering in a highly desirable Buffalo submarket.
Location
State NY
County Erie
Area Buffalo City-140200
Zoning N-2E
Direction Use a GPS.
Rooms
Basement Full, Storage Space
Interior
Heating Gas, Hot Water, Radiant
Flooring Hardwood, Varies
Inclusions Building Only
Fireplace No
Exterior
Utilities Available Electricity Connected, Sewer Connected
Roof Type Metal,Pitched
Handicap Access Accessible Doors
Total Parking Spaces 7
Building
Lot Description Rectangular, Rectangular Lot
Building Description Brick,Block,Frame,Metal Siding, Public Restrooms
Story 3
Sewer Public Sewer
Structure Type Brick,Block,Frame,Metal Siding
Construction Status Existing
Schools
School District Buffalo
Others
Tax ID 140200-100-620-0001-036-000
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Auction
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