Two-Building 5-Unit
For Sale
$299,900
1697 Electric Ave, Lackawanna, NY 14218
Five occupied units across two buildings offer an off-street parking setup for tenants.
Property Size3,994 SF
Days on Market62
Property Features for 1697 Electric Ave
General Information
Standard status
Active
Size
3,994 SF
Property subtype
Investment
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$7,201
Building Details
Building Size
3,994 SF
Year Built
1900
Units
5
Tenancy
Multi
Listing Agency:
WNY Metro Roberts Realty
(716) 430-2091
Listed By:
Emmanuel Williams · License #10301217766
(716) 430-2091
Source:
Elliman
Added: Jun 21
Changed: Aug 13
Last Checked: Aug 21 at 7:15AM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This 5-unit multifamily property at 1697 Electric Ave consists of two buildings on one parcel. The front building includes three apartments, and the rear building includes two additional units. The property is described as having some vinyl siding, solid mechanical systems, and a sump pump. A large driveway provides off-street parking for tenants.
The asset is located in Lackawanna, with access described as being convenient to shopping, dining, public transportation, and major highways. Walkability is noted as somewhat walkable, and transit access is noted as somewhat limited.
With all units described as currently occupied, the property may appeal to investors seeking a ready-to-rent multifamily setup or to an owner-occupant looking to live in one unit while maintaining rental income from the other apartments. The two-building layout on a single parcel and the available parking are practical considerations for day-to-day tenant use.
The asset is located in Lackawanna, with access described as being convenient to shopping, dining, public transportation, and major highways. Walkability is noted as somewhat walkable, and transit access is noted as somewhat limited.
With all units described as currently occupied, the property may appeal to investors seeking a ready-to-rent multifamily setup or to an owner-occupant looking to live in one unit while maintaining rental income from the other apartments. The two-building layout on a single parcel and the available parking are practical considerations for day-to-day tenant use.
Key Highlights
- 5‑unit multi‑family across two buildings on one parcel: 3 units in the front building and 2 units in the rear building
- All 5 units are currently occupied with $4,620 per month in rent
- Includes 5 full bathrooms total (as described)
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
Explore this area
Business Placement
Demographics for 14218, NY
20,878
Population
9,478
Households
2.2
Avg Household Size
38
Median Age
21%
College-Educated
88%
High-School Grad
8.1 sq mi
ZIP Area
2,578
Density / Sq Mi
$50,484
Median Household Income
$36,457
Median Earnings
$829
Median Rent
$135,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five occupied units across two buildings offer an off-street parking setup for tenants.
Where is this apartment building located?
The property is located at 1697 Electric Ave Lackawanna, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 5‑unit multi‑family across two buildings on one parcel: 3 units in the front building and 2 units in the rear building; All 5 units are currently occupied with $4,620 per month in rent; Includes 5 full bathrooms total (as described)
