Four-Unit Brick Apartment
2727 Alder Creek Dr S Wheatfield, NY 14120
New
For Sale
$429,000
All-brick four-unit multifamily property with common laundry, air conditioning, and a recently replaced tear-off roof.
Days on Market5
Property Features for 2727 Alder Creek Dr S
General Information
Standard status
Active
Property subtype
Multi Family
Building Details
Year Built
1990
Listing Agency:
Keller Williams Realty Buffalo Northtowns
(716) 940-9980
Listed By:
Janelle R Rohring · License #10401317049
(716) 940-9980
Source:
Elliman
Added: Jul 25
Changed: Jul 27
Last Checked: Jul 28 at 7:19AM
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 Buffalo Northtowns
Investment Insights
Based on property information with market context.
This all-brick four-unit multifamily property includes three 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. The building has common laundry facilities, air conditioning in every unit, and interior storage space for tenants. Exterior and tenant storage is also supported by two storage sheds, and the property features an expansive rear yard.
The roof was recently replaced with a complete tear-off in June 2026. The property includes ample off-street parking and is situated on a quiet street in the Town of Wheatfield.
The current configuration offers a mix of long-term tenancy and vacancy, providing flexibility for an investor seeking immediate income and for an owner-occupant looking to occupy one unit while leasing others.
The roof was recently replaced with a complete tear-off in June 2026. The property includes ample off-street parking and is situated on a quiet street in the Town of Wheatfield.
The current configuration offers a mix of long-term tenancy and vacancy, providing flexibility for an investor seeking immediate income and for an owner-occupant looking to occupy one unit while leasing others.
Key Highlights
- All‑brick four‑unit multifamily building built in 1990
- Unit mix: three 2‑bedroom, 1‑bath units plus one 1‑bedroom, 1‑bath unit
- Recent roof update: complete tear‑off roof installed in June 2026
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 | $50.3k | $13.44 |
| − Vacancy | −$3.3k | −$0.89 |
| EGI | $47.0k | $12.55 |
| − OpEx | −$14.1k | −$3.76 |
| NOI | $32.9k | $8.78 |
3,744 SF · lease $13.44/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$469.7K
$411.0K – $548.0K
NOI $32,881 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$416.9K
$364.8K – $486.4K
NOI $29,185 @ 7.0% cap · market cap 6.80%
Theoretical Best
Warehouse
$3.18M
$2.78M – $3.71M
NOI $222,688 @ 7.0% cap · market cap 51.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - All-brick four-unit multifamily property with common laundry, air conditioning, and a recently replaced tear-off roof.
Where is this quadplex located?
The property is located at 2727 Alder Creek Dr S Wheatfield, NY.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: All‑brick four‑unit multifamily building built in 1990; Unit mix: three 2‑bedroom, 1‑bath units plus one 1‑bedroom, 1‑bath unit; Recent roof update: complete tear‑off roof installed in June 2026
