308 Virginia St Buffalo, NY 14201
Thirteen-unit multifamily portfolio in Buffalo's West Side/Allentown corridor.
Property size:
5,655 SFProperty Features for 308 Virginia St
General Information
- Size
- 5,655 SF
Building Details
- Year built
- 1900
Source:
Huntcommercial
Listing Agent: Nicholas Corto
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Thirteen Units in Buffalo Portfolio
This portfolio consists of three multi-family properties spanning 13,511 square feet on Virginia Street in Buffalo’s West Side/Allentown area. The portfolio includes properties at 308 Virginia St, 318 Virginia St, and 348 Virginia St. The properties feature stable tenancy, a strong rental history, and consistent occupancy. The gross rent is $11,875 per month, totaling $142,500 annually. The net operating income is $102,532 per year, with an 8.20% capitalization rate. The unit mix includes three 3-bedroom units, two 2-bedroom units, and seven 1-bedroom units. The properties feature well-maintained units and solid mechanical systems. Tenants are responsible for their electric bills, and seven out of thirteen tenants pay for their own heat. Recent capital improvements include work on the roof, boiler, vinyl replacement windows, new gutters and downspouts, several new hot water tanks, new plumbing, fire prevention systems, new laundry units, and new electrical services. Several units have undergone capital expenditure renovations, including painting, kitchen remodels, baths, plumbing, and flooring. The three main properties have stone basements. The location on Virginia Street is near D'Youville College, Allentown, Elmwood Village, the Medical Campus, public transportation, and neighborhood amenities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Buffalo
- County
- Erie
- State
- New York
- Longitude
- -78.8804652
- Latitude
- 42.8958899
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FAQs
What type of property is this?
Apartment building - Thirteen-unit multifamily portfolio in Buffalo's West Side/Allentown corridor.
Where is this apartment building located?
The property is located at 308 Virginia St Buffalo, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: - High Cash Flow and Cap Rate: Portfolio generates a strong NOI of $102,532 per year with an 8.20% cap rate.; - Prime Location: Located on Virginia Street in Buffalo's desirable West Side/Allentown corridor, near D'Youville College, Elmwood Village, and the Medical Campus.; - Turnkey Condition: Well-maintained units with solid mechanicals and recent capital improvements.