Elmwood Village Four-Unit
180 Richmond Avenue Buffalo, NY 14222
180 Richmond Avenue, Buffalo, NY, 14222
$649,000
For Sale
$649,000
Fully rented four-unit property in Buffalo's Elmwood Village/Five Points.
Property Size5,186 SF
Price / SF$125.14
Days on Market73
Property Features for 180 Richmond Avenue
General Information
- Standard status
- Active
- Size
- 5,186 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1890
Listing Agency
Keller Williams Realty WNY
(716) 908-4212
Listed by
Karina Stachowiak · License #10401362457
(716) 908-4212
Source
Xome
Added: May 5 Checked: May 27 at 1:58 pm
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 Keller Williams Realty WNY
Investment Insights
Based on property information with market context.
Located in the Elmwood Village/Five Points neighborhood of Buffalo, 180 Richmond Avenue is a fully rented four-unit property. The property has been maintained and updated, featuring a mix of apartments with living spaces and finishes that attract long-term tenants. The first-floor residence includes three bedrooms, a kitchen with granite countertops and cabinetry, living areas, and architectural details. Two one-bedroom apartments each feature private patios, living spaces, updated kitchens and baths, and outdoor retreats. The third-floor two-bedroom apartment provides natural light and storage, with updated finishes. Shared laundry and additional storage are available in the basement. Updates include renovated kitchens and bathrooms, vinyl windows, and interior and exterior paint (2023). A new water line to the street is planned for 2026. Mechanical systems are serviced annually. Outdoor amenities include a fenced yard with a stamped concrete patio and parking, including four garage bays and driveway parking. The property is located near shops, restaurants, cafes, and parks.
Key Highlights
- Fully rented, cash‑flowing four‑unit property in the heart of Buffalo’s vibrant Elmwood Village/Five Points neighborhood.
- Exceptional parking: four garage bays (one per unit) plus additional driveway parking.
- Extensive updates including renovated kitchens and bathrooms, vinyl windows, newer mechanicals, new water line (2026), and fresh paint.
Local Financial Insights For Multifamily LT 5
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 | $77.8k | $15.00 |
| − Vacancy | −$4.3k | −$0.83 |
| EGI | $73.5k | $14.17 |
| − OpEx | −$22.1k | −$4.25 |
| NOI | $51.5k | $9.92 |
5,186 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$735.1K
$643.2K – $857.6K
NOI $51,458 @ 7.0% cap · market cap 7.93%
Second Best
Apartment 5plus
$677.1K
$592.5K – $790.0K
NOI $47,397 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,299 @ 7.0% cap · market cap 13.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fully rented four-unit property in Buffalo's Elmwood Village/Five Points.
Where is this quadplex located?
The property is located at 180 Richmond Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Fully rented, cash‑flowing four‑unit property in the heart of Buffalo’s vibrant Elmwood Village/Five Points neighborhood.; Exceptional parking: **four garage bays (one per unit) plus additional driveway parking.**; Extensive updates including renovated kitchens and bathrooms, vinyl windows, newer mechanicals, new water line (2026), and fresh paint.
