Triplex with Two-Car
For Sale
$375,000
116 College Street, Buffalo, NY 14201
Three distinct residences combine original character, refreshed amenities, private outdoor space, and convenient on-site parking.
Property Size2,323 SF
Days on Market54
Property Features for 116 College Street
General Information
Standard status
Active
Size
2,323 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,738
Building Details
Building Size
2,323 SF
Year Built
1900
Listing Agency:
HUNT Real Estate ERA
Listed By:
Timothy Ranallo · License #40RA0947411
(716) 400-4295
Source:
Highfallssir
Added: Aug 28
Changed: Oct 5
Last Checked: Oct 19 at 5:44PM
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 HUNT Real Estate ERA
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Investment Insights
Based on property information with market context.
This three-unit residential property includes two first-floor residences and an upper-level apartment. The front ground-floor unit offers a living room, formal dining room, eat-in kitchen, full bath, bedroom, closet storage, original hardwood floors, and fresh paint. A separate rear unit features an open living, dining, and kitchen arrangement, heated flooring, a bedroom, and a newer full bath. Upstairs, the third residence provides an open living and dining area, skylights, a remodeled kitchen, full bath, large bedroom, closet storage, and a front porch.
The property also includes a yard and a two-car garage, adding uncommon convenience for a multifamily building. Built in 1900, it retains period character while incorporating updated and remodeled interior elements. The address is in Buffalo’s Allentown area, near Allen Street.
The property also includes a yard and a two-car garage, adding uncommon convenience for a multifamily building. Built in 1900, it retains period character while incorporating updated and remodeled interior elements. The address is in Buffalo’s Allentown area, near Allen Street.
Key Highlights
- Three‑unit configuration with two ground‑floor residences and one upper apartment
- Two‑car garage plus on‑site yard
- Front first‑floor unit includes formal dining room, eat‑in kitchen, original hardwood floors, and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,050
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,000
$461.0K
Cap Rate 7%
$329,286
$329.3K
Cap Rate 9%
$256,111
$256.1K
Market Conditions
NOI Build-Up for 2,323 SF
Gross rent
$34.8K $15.00/SF
− Vacancy
−$1.9K −$0.83/SF
EGI
$32.9K $14.17/SF
− OpEx
−$9.9K −$4.25/SF
NOI
$23.0K $9.92/SF
Area
Buffalo, NY
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,000
Cap Rate 7%
$329,286
Cap Rate 9%
$256,111
Alternative Uses
Best Use
Multifamily LT 5
$329.3K
$288.1K – $384.2K
NOI $23,050 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$303.3K
$265.4K – $353.9K
NOI $21,231 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$558.6K
$488.8K – $651.7K
NOI $39,104 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,735
Businesses Nearby
Explore this area
Business Placement
Demographics for 14201, NY
12,364
Population
7,172
Households
1.7
Avg Household Size
33
Median Age
39%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
11,240
Density / Sq Mi
$34,204
Median Household Income
$34,081
Median Earnings
$953
Median Rent
$327,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three distinct residences combine original character, refreshed amenities, private outdoor space, and convenient on-site parking.
Where is this triplex located?
The property is located at 116 College Street Buffalo, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Three‑unit configuration with two ground‑floor residences and one upper apartment; Two‑car garage plus on‑site yard; Front first‑floor unit includes formal dining room, eat‑in kitchen, original hardwood floors, and fresh paint
