Triplex with Three-Car
New
For Sale
$569,900
299 Richmond Avenue, Buffalo, NY 14222
Residential, Buffalo, NY
Property Size3,779 SF
Lot Size0.15 Acres
Price / SF$150.81
Days on Market1
Property Features for 299 Richmond Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 5, Bathroom 3, Bedroom 1, Basement, Bathroom 2, Bathroom 1
Parking features
Garage
Patio and Porch features
Patio, Porch
Interior features
Attic, CathedralCeilings, NaturalWoodwork, BedroomOnMainLevel, ProgrammableThermostat
Exterior features
Patio
Fireplace
1
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Use GPS.
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-100-450-0001-047-000
Size
3,779 SF
Lot size
0.15 Acres
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
electricity
Taxes and HOA fees
Tax Annual Amount
5764
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
hardwood floors
front balcony/patio
covered front sitting porch
off-street parking
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Flooring type
Varies, Hardwood, Tile, Vinyl
Building materials
WoodSiding
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 662-0449
Listed By:
Kenneth J Hickok · License #10401213668
(716) 225-5503
Added: Nov 3
Last Checked: Nov 3 at 10:06PM
MLS# B1725116
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,779-square-foot triplex on a 0.1515-acre lot contains two one-bedroom apartments and a three-bedroom second-floor residence. The larger apartment includes separate living and family rooms, a formal dining room, and a full kitchen. A three-car garage, off-street parking, front porch, and balcony/patio add to the property’s existing features. More than 1,000 square feet of additional living area is nearly complete and could support a fourth unit, subject to the required finishing work and approvals.
Two of the three units have month-to-month tenants. The property is within walking distance of Elmwood Village shops, restaurants, and cafes. Updates include electrical panels and meters for all units, along with an architectural shingle roof installed approximately six years ago.
Two of the three units have month-to-month tenants. The property is within walking distance of Elmwood Village shops, restaurants, and cafes. Updates include electrical panels and meters for all units, along with an architectural shingle roof installed approximately six years ago.
Key Highlights
- Three existing residential units: two one‑bedroom apartments and one three‑bedroom apartment
- More than 1,000 square feet of nearly completed additional living space with potential for a fourth unit
- Three‑car garage and off‑street tenant parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,497
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$749,940
$749.9K
Cap Rate 7%
$535,671
$535.7K
Cap Rate 9%
$416,633
$416.6K
Market Conditions
NOI Build-Up for 3,779 SF
Gross rent
$56.7K $15.00/SF
− Vacancy
−$3.1K −$0.83/SF
EGI
$53.6K $14.17/SF
− OpEx
−$16.1K −$4.25/SF
NOI
$37.5K $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%
$749,940
Cap Rate 7%
$535,671
Cap Rate 9%
$416,633
Alternative Uses
Best Use
Multifamily LT 5
$535.7K
$468.7K – $625.0K
NOI $37,497 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$493.4K
$431.7K – $575.6K
NOI $34,538 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$908.8K
$795.2K – $1.06M
NOI $63,614 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,984
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?
Triplex - The existing mix pairs two one-bedroom apartments with a three-bedroom residence and includes off-street parking.
Where is this triplex located?
The property is located at 299 Richmond Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $569,900.
What are key features of this property?
This property features: Three existing residential units: two one‑bedroom apartments and one three‑bedroom apartment; More than 1,000 square feet of nearly completed additional living space with potential for a fourth unit; Three‑car garage and off‑street tenant parking
