Updated Four-Unit
For Sale
$699,900
20-22 Granger Place, Buffalo, NY 14222
Four two-bedroom apartments combine refreshed interiors with original architectural details and one vacant unit for flexible ownership use.
Property Size4,428 SF
Days on Market60
Property Features for 20-22 Granger Place
General Information
Standard status
Active
Size
4,428 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,603
Building Details
Building Size
4,428 SF
Year Built
1900
Listing Agency:
HUNT Real Estate ERA
Listed By:
Sean Mattrey · License #10301220699
(716) 807-6401
Source:
Highfallssir
Added: Aug 17
Changed: Oct 2
Last Checked: Oct 15 at 7:38AM
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
Investment Insights
Based on property information with market context.
Located at 20-22 Granger Place in Buffalo, this quadplex was built in 1900 and contains four apartments, each configured with two bedrooms and one full bathroom. The interiors have been refreshed with updated kitchens, cabinetry, countertops, appliances, and bathrooms, while original architectural elements remain throughout the property. Living areas provide a practical residential layout with character that carries through the building.
One apartment is vacant, while the other three provide rental income, creating an owner-occupant configuration with an established income component. The available unit allows the next owner to select a residence within the property while maintaining income from the balance of the apartments. The combination of four consistent unit layouts, completed interior updates, and retained original details supports straightforward day-to-day management.
One apartment is vacant, while the other three provide rental income, creating an owner-occupant configuration with an established income component. The available unit allows the next owner to select a residence within the property while maintaining income from the balance of the apartments. The combination of four consistent unit layouts, completed interior updates, and retained original details supports straightforward day-to-day management.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 full bathroom
- One unit is vacant; the remaining three provide rental income
- Updated kitchens include cabinetry, countertops, and appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,937
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$878,740
$878.7K
Cap Rate 7%
$627,671
$627.7K
Cap Rate 9%
$488,189
$488.2K
Market Conditions
NOI Build-Up for 4,428 SF
Gross rent
$66.4K $15.00/SF
− Vacancy
−$3.7K −$0.83/SF
EGI
$62.8K $14.17/SF
− OpEx
−$18.8K −$4.25/SF
NOI
$43.9K $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%
$878,740
Cap Rate 7%
$627,671
Cap Rate 9%
$488,189
Alternative Uses
Best Use
Multifamily LT 5
$627.7K
$549.2K – $732.3K
NOI $43,937 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$578.1K
$505.9K – $674.5K
NOI $40,469 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$1.06M
$931.7K – $1.24M
NOI $74,539 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom apartments combine refreshed interiors with original architectural details and one vacant unit for flexible ownership use.
Where is this quadplex located?
The property is located at 20-22 Granger Place Buffalo, NY.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 full bathroom; One unit is vacant; the remaining three provide rental income; Updated kitchens include cabinetry, countertops, and appliances
