Well-Maintained Five-Unit Apartment
2658 Main Street Niagara Falls, NY 14305
For Sale
$350,000
Five one-bedroom units with separately metered utilities, offering a straightforward rental setup near Niagara University.
Property Size4,103 SF
Price / SF$85.30
Days on Market96
Property Features for 2658 Main Street
General Information
- Standard status
- Active
- Size
- 4,103 SF
- Property subtype
- Multi Family / Other
Building Details
- Year Built
- 1920
Listing Agency:
Red Door Real Estate WNY LLC
(716) 299-7171
Listed By:
Awais Rehman · License #10301223794
(716) 299-7171
Source:
Compass
Added: Apr 21
Changed: Jul 10
Last Checked: Jul 25 at 12:28PM
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 Red Door Real Estate WNY LLC
Investment Insights
Based on property information with market context.
This well-maintained five-unit apartment building is configured with five one-bedroom apartments across three floors. Two units are located on the first floor, two units on the second floor, and one unit is on the third floor. The rear first-floor unit offers added privacy, and Unit #5 is described as having outside views from the kitchen. All utilities are separately metered, supporting independent tenant billing.
The property is located close to Niagara University as well as shopping, restaurants, and other amenities. It is also described as being just one block from the Amtrak train station.
For buyers seeking a compact multifamily asset, the building’s five one-bedroom layout and separately metered utilities can simplify day-to-day operations. Its mix of units on multiple floors may appeal to tenants looking for traditional apartment living, including both students and long-term renters, depending on leasing strategy.
The property is located close to Niagara University as well as shopping, restaurants, and other amenities. It is also described as being just one block from the Amtrak train station.
For buyers seeking a compact multifamily asset, the building’s five one-bedroom layout and separately metered utilities can simplify day-to-day operations. Its mix of units on multiple floors may appeal to tenants looking for traditional apartment living, including both students and long-term renters, depending on leasing strategy.
Key Highlights
- 5‑unit apartment building with five 1‑bedroom units across three floors
- All utilities are separately metered for each unit
- Building is close to Niagara University and one block from the Amtrak train station
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 | $62.5k | $15.24 |
| − Vacancy | −$4.4k | −$1.07 |
| EGI | $58.2k | $14.17 |
| − OpEx | −$26.2k | −$6.38 |
| NOI | $32.0k | $7.80 |
4,103 SF · lease $15.24/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$456.9K
$399.8K – $533.1K
NOI $31,984 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.49M
$3.05M – $4.07M
NOI $244,041 @ 7.0% cap · market cap 69.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Five one-bedroom units with separately metered utilities, offering a straightforward rental setup near Niagara University.
Where is this apartment building located?
The property is located at 2658 Main Street Niagara Falls, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 5‑unit apartment building with five 1‑bedroom units across three floors; All utilities are separately metered for each unit; Building is close to Niagara University and one block from the Amtrak train station
