Two Brick Apartment Buildings
For Sale
$800,000
Pending
3 & 7 Rudolph St, Lackawanna, NY 14218
Two five-unit buildings with value-add potential in Lackawanna, NY.
Property Size6,806 SF
Lot Size0.25 Acres
Days on Market219
Property Features for 3 & 7 Rudolph St
General Information
Standard status
Pending
Size
6,806 SF
Lot size
0.25 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$12,381
Building Details
Building Size
6,806 SF
Year Built
1947
Stories
2
Units
10
Listing Agency:
Network One Realty
Listed By:
Michael F Battaglia · License #10371200173
(716) 310-9871
Source:
Elliman
Added: Mar 12
Changed: Oct 1
Last Checked: Oct 16 at 10:38AM
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 Network One Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a package sale featuring two brick five-unit buildings. The property includes a two-car garage. Tenants are responsible for electric, while the owner covers gas and water expenses. Shared expenses for snow removal, lawn maintenance, and trash disposal are in place with the adjacent property owner. Some tenants are on leases, while others are on a month-to-month basis. The roof is approximately 10 years old, and some windows have been replaced. Coin laundry facilities are available in the basement. Rents are below market value for the area, presenting a value-add opportunity. Please note that the buildings cannot be separated.
Key Highlights
- Excellent Location
- "Value Add" Opportunity with Rents Below Market
- Package Sale: Two Brick 5‑Unit Buildings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,202
Cap Rate
7.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,244,040
$1.2M
Cap Rate 7%
$888,600
$888.6K
Cap Rate 9%
$691,133
$691.1K
Market Conditions
NOI Build-Up for 6,806 SF
Gross rent
$118.4K $17.40/SF
− Vacancy
−$5.3K −$0.78/SF
EGI
$113.1K $16.62/SF
− OpEx
−$50.9K −$7.48/SF
NOI
$62.2K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,244,040
Cap Rate 7%
$888,600
Cap Rate 9%
$691,133
Alternative Uses
Best Use
Apartment 5plus
$888.6K
$777.5K – $1.04M
NOI $62,202 @ 7.0% cap · market cap 7.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,569 @ 7.0% cap · market cap 14.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
534
Businesses Nearby
Explore this area
Business Placement
Demographics for 14218, NY
20,878
Population
9,478
Households
2.2
Avg Household Size
38
Median Age
21%
College-Educated
88%
High-School Grad
8.1 sq mi
ZIP Area
2,578
Density / Sq Mi
$50,484
Median Household Income
$36,457
Median Earnings
$829
Median Rent
$135,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Two five-unit buildings with value-add potential in Lackawanna, NY.
Where is this apartment building located?
The property is located at 3 & 7 Rudolph St Lackawanna, NY.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Excellent Location; "Value Add" Opportunity with Rents Below Market; Package Sale: Two Brick 5‑Unit Buildings
