Gated Multifamily Loft
118 Cottage Street Buffalo, NY 14201
New
For Sale
$3,300,000
MULTI_FAMILY - Buffalo, NY
Property Size23,575 SF
Lot Size0.59 Acres
Price / SF$139.98
Days on Market6
Property Features for 118 Cottage Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 20
- Rooms
- Bedroom 7, Bedroom 18, Bedroom 20, Bedroom 2, Bedroom 17, Bedroom 19, Bedroom 10, Basement, Bedroom 8, Bedroom 12, Bedroom 1, Bedroom 16, Bedroom 15, Bedroom 13, Bedroom 3, Bedroom 11, Bedroom 5, Bedroom 9, Bedroom 6, Bedroom 14, Bedroom 4
- Parking features
- Garage
- Security features
- Security
- Exterior features
- BlacktopDriveway, ConcreteDriveway
- Appliances
- Dryer, ElectricOven, ElectricRange, GasOven, GasRange, GasWaterHeater, Refrigerator, Washer
- Standard status
- Active
- APN
- 140200-099-840-0007-016-000
- Size
- 23,575 SF
- Lot size
- 0.59 Acres
Taxes and HOA fees
- Tax Annual Amount
- 30655
Utilities
- Heating system
- Natural Gas, Forced Air
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 3
- Number of units
- 20
- Flooring type
- Hardwood, Varies, Tile
- Building materials
- Brick
- Roof type
- Shingle, Asphalt
Listing Agency:
Gurney Becker & Bourne
(716) 849-1234
Listed By:
Carmelo A Parlato · License #10401209029
(716) 335-2227
Added: Jul 18
Changed: Jul 20
Last Checked: Jul 23 at 4:06PM
MLS# B1698031
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The Cottage Street Lofts at 118, 120, and 126 Cottage Street comprise 20 gated residential units in Allentown. The buildings feature brick construction with Italianate architecture and overlook Days Park. Parking is provided for 26 vehicles, supporting day-to-day resident access.
The property sits within the Allentown Historic Preservation District and is described as within walking distance of the Buffalo Niagara Medical Campus.
Unit mix is detailed by building: 118 Cottage Street includes 12 units, with eight 1-bedroom, 1-bath units and four 2-bedroom units, including configurations with balconies, porches, and both 1.5- and 1-bath layouts. 120 Cottage Street is described as a four-unit building with all 1-bedroom units, including combinations of 2-story and 1-story layouts with 1-bath and 1.5-bath variations. 126 Cottage Street is also described as a four-unit building with 1-bedroom and 2-bedroom units, including both 1- and 2-story configurations and 1.5- and 2.5-bath options.
The property sits within the Allentown Historic Preservation District and is described as within walking distance of the Buffalo Niagara Medical Campus.
Unit mix is detailed by building: 118 Cottage Street includes 12 units, with eight 1-bedroom, 1-bath units and four 2-bedroom units, including configurations with balconies, porches, and both 1.5- and 1-bath layouts. 120 Cottage Street is described as a four-unit building with all 1-bedroom units, including combinations of 2-story and 1-story layouts with 1-bath and 1.5-bath variations. 126 Cottage Street is also described as a four-unit building with 1-bedroom and 2-bedroom units, including both 1- and 2-story configurations and 1.5- and 2.5-bath options.
Key Highlights
- Cottage Street Lofts complex includes 20 gated residential units at 118, 120, and 126 Cottage Street
- All buildings are brick construction with Italianate architecture and overlook Olmsted‑designed Days Park
- 118 Cottage Street has 12 units: eight 1 bed/1 bath and four 2 bed units with balconies/porches and 1 or 1.5 baths
Financial Insights For Apartment 5plus
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 | $410.2k | $17.40 |
| − Vacancy | −$18.5k | −$0.78 |
| EGI | $391.7k | $16.62 |
| − OpEx | −$176.3k | −$7.48 |
| NOI | $215.5k | $9.14 |
23,575 SF · lease $17.40/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.08M
$2.69M – $3.59M
NOI $215,460 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.67M
$4.96M – $6.61M
NOI $396,852 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Brick Italianate multifamily buildings offer 20 gated residential units with parking for 26 vehicles.
Where is this apartment building located?
The property is located at 118 Cottage Street Buffalo, NY.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Cottage Street Lofts complex includes 20 gated residential units at 118, 120, and 126 Cottage Street; All buildings are brick construction with Italianate architecture and overlook Olmsted‑designed Days Park; 118 Cottage Street has 12 units: eight 1 bed/1 bath and four 2 bed units with balconies/porches and 1 or 1.5 baths
