UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,982 sqft
Price per Sqft $53
MLS Listing ID B1683191
Bedrooms 6
Full Baths 2
Construction Status Existing
HOA Y/N No
Year Built 1910
Annual Tax Amount $1,879
Lot Size 6,316 Sqft
Acres 0.145
Lot Dimensions 35X180
Property Sub-Type Multi Family
Property Description
Competitively priced value add
This is a classic two-family duplex (upper/lower) built in 1910 in Buffalo's First Ward neighborhood along South Park Avenue. The property offers a hefty 2,982 sq ft of living space on a 6,300 sq ft lot (0.14 acres), with separate utilities (boilers) typical for these older multi-family homes.
Key highlights for investors:Upper unit is currently tenanted for $1200 per month— providing immediate rental income and cash flow from day one.
Lower unit requires rehab — offering strong value-add potential through cosmetic and mechanical updates to bring it to market rents.
Solid bones in a location near South Park, with access to Buffalo's revitalizing areas, public transit, and amenities. The neighborhood shows ongoing interest from investors in multi-family properties.
Low property taxes (recent assessment around $140,000 total, with taxes historically modest at a few hundred dollars annually).
This property suits a hands-on investor or rehabber looking for a turnkey partial cash-flow play with upside from stabilizing the lower unit. Once both units are fully renovated and leased, it could deliver attractive returns in Buffalo's rental market.
Potential returns: Buffalo multi-family cap rates generally range 6–8%+ for value-add properties in this segment. Rents in the broader South Buffalo/First Ward area average ~$1,100–$1,600+ per unit for 2–3 bed setups (upper unit likely in that ballpark). Post-rehab, stabilized gross rents could approach $2,400–$3,200/month, supporting solid cash-on-cash once stabilized.
Location
State NY
County Erie
Area Buffalo City-140200
Rooms
Basement Full
Interior
Heating Electric, Other, See Remarks
Cooling Other, See Remarks
Flooring Laminate, Varies
Fireplace No
Appliance Gas Water Heater
Exterior
Garage Spaces 2.0
Utilities Available Sewer Connected, Water Connected
Garage Yes
Building
Lot Description Rectangular, Rectangular Lot, Residential Lot
Story 2
Sewer Connected
Water Connected, Public
Level or Stories Two
Structure Type Vinyl Siding
Construction Status Existing
Schools
School District Buffalo
Others
Senior Community No
Tax ID 140200-122-320-0004-010-000
Acceptable Financing Cash, Private Financing Available, Rehab Financing
Listing Terms Cash, Private Financing Available, Rehab Financing
Special Listing Condition Standard
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(MAY 09, 2026 - JUN 08, 2026)
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