Turnkey 8-Unit Apartment
227 14th Street Buffalo, NY 14213
227 14th Street, Buffalo, NY, 14213
$1,100,000
For Sale
$1,100,000
Two-building, eight-unit property with fully rented apartments and updated interiors.
Property Size10,467 SF
Price / SF$105.09
Days on Market77
Property Features for 227 14th Street
General Information
- Standard status
- Active
- Size
- 10,467 SF
- Property subtype
- Multi Family / Other
Building Details
- Year Built
- 1910
Listing agency
Keller Williams Realty WNY
(716) 832-3300
Listed by
Max Fenske · License #10401313813
(716) 832-3300
Source
Compass
Added: May 7 Updated: Jul 21 at 11:28PM Checked: Jul 21 at 11:28PM
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.
227 14th Street is a turnkey eight-unit investment opportunity comprising two separate buildings on one lot. All apartments are fully rented and have been updated prior to current tenancy, including modernized kitchens, bathrooms, flooring, and finishes to support a low-maintenance ownership experience. Major capital improvements include newer roofs on both structures.
The property is positioned on Buffalo’s West Side with easy access to downtown Buffalo, Elmwood Village, and the Niagara Street corridor. Nearby destinations include Augie’s, Southern Junction, and Breadhive Bakery & Cafe.
This offering provides immediate income from the existing tenant base within a two-building multifamily configuration on a single parcel.
The property is positioned on Buffalo’s West Side with easy access to downtown Buffalo, Elmwood Village, and the Niagara Street corridor. Nearby destinations include Augie’s, Southern Junction, and Breadhive Bakery & Cafe.
This offering provides immediate income from the existing tenant base within a two-building multifamily configuration on a single parcel.
Key Highlights
- Two separate buildings on one lot with 8 fully rented apartments
- Total 10,467 SF with two levels and a full basement
- Gas forced‑air heating; each unit includes gas oven, gas range, gas water heater, and refrigerator
Local Financial Insights For Apartment 5plus
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 | $182.1k | $17.40 |
| − Vacancy | −$8.2k | −$0.78 |
| EGI | $173.9k | $16.62 |
| − OpEx | −$78.3k | −$7.48 |
| NOI | $95.7k | $9.14 |
10,467 SF · lease $17.40/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.37M
$1.20M – $1.59M
NOI $95,662 @ 7.0% cap · market cap 8.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.52M
$2.20M – $2.94M
NOI $176,197 @ 7.0% cap · market cap 16.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Two-building, eight-unit property with fully rented apartments and updated interiors.
Where is this apartment building located?
The property is located at 227 14th Street Buffalo, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two separate buildings on one lot with 8 fully rented apartments; Total 10,467 SF with two levels and a full basement; Gas forced‑air heating; each unit includes gas oven, gas range, gas water heater, and refrigerator
