Updated Four-Unit
For Sale
$599,000
Pending
180 Richmond Avenue, Buffalo, NY 14222
Fully leased residential property with renovated interiors, private patios, shared laundry, storage, and dedicated garage parking.
Property Size5,186 SF
Days on Market66
Property Features for 180 Richmond Avenue
General Information
Standard status
Pending
Size
5,186 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
1 x 3BR, 2 x 1BR, 1 x 2BR
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,769
Amenities
private patios
shared laundry
basement storage
fenced yard
stamped concrete patio
Building Details
Building Size
5,186 SF
Year Built
1890
Listing Agency:
Keller Williams Realty WNY
Listed By:
Karina Stachowiak · License #10401362457
(716) 908-4212
Source:
Highfallssir
Added: Aug 13
Changed: Oct 3
Last Checked: Oct 16 at 5:39PM
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
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Investment Insights
Based on property information with market context.
This four-unit residential property includes a first-floor three-bedroom apartment, two one-bedroom apartments, and a third-floor two-bedroom residence. Interior improvements include renovated kitchens and bathrooms, vinyl windows, updated finishes, interior paint, and professionally serviced mechanical systems. Shared laundry and additional basement storage serve the units. Two apartments offer private patios, while the property also features a fenced yard and stamped concrete patio.
Parking includes four garage bays, with one assigned to each apartment, along with additional front and rear driveway spaces. A new water line to the street was installed in 2026, and the exterior was fully painted in 2023. The property is located at 180 Richmond Avenue in Buffalo, near the Elmwood Village and Five Points areas, with shops, restaurants, cafes, and parks within steps of the building.
Parking includes four garage bays, with one assigned to each apartment, along with additional front and rear driveway spaces. A new water line to the street was installed in 2026, and the exterior was fully painted in 2023. The property is located at 180 Richmond Avenue in Buffalo, near the Elmwood Village and Five Points areas, with shops, restaurants, cafes, and parks within steps of the building.
Key Highlights
- Four‑unit configuration with one 3‑bedroom, two 1‑bedroom, and one 2‑bedroom apartments
- Fully rented property at 180 Richmond Avenue, Buffalo, NY 14222
- Four garage bays, one designated for each unit, plus front and rear driveway parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,458
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,029,160
$1.0M
Cap Rate 7%
$735,114
$735.1K
Cap Rate 9%
$571,756
$571.8K
Market Conditions
NOI Build-Up for 5,186 SF
Gross rent
$77.8K $15.00/SF
− Vacancy
−$4.3K −$0.83/SF
EGI
$73.5K $14.17/SF
− OpEx
−$22.1K −$4.25/SF
NOI
$51.5K $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%
$1,029,160
Cap Rate 7%
$735,114
Cap Rate 9%
$571,756
Alternative Uses
Best Use
Multifamily LT 5
$735.1K
$643.2K – $857.6K
NOI $51,458 @ 7.0% cap · market cap 8.59%
Second Best
Apartment 5plus
$677.1K
$592.5K – $790.0K
NOI $47,397 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,299 @ 7.0% cap · market cap 14.57%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,259
Businesses Nearby
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Business Placement
Demographics for 14222, NY
13,629
Population
7,355
Households
1.9
Avg Household Size
32
Median Age
63%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
11,358
Density / Sq Mi
$83,692
Median Household Income
$50,045
Median Earnings
$1,168
Median Rent
$408,100
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?
Quadplex - Fully leased residential property with renovated interiors, private patios, shared laundry, storage, and dedicated garage parking.
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 $599,000.
What are key features of this property?
This property features: Four‑unit configuration with one 3‑bedroom, two 1‑bedroom, and one 2‑bedroom apartments; Fully rented property at 180 Richmond Avenue, Buffalo, NY 14222; Four garage bays, one designated for each unit, plus front and rear driveway parking
