Thirteen Units in Buffalo
308 318 & 348 Virginia St, Buffalo, NY 14201
Thirteen-unit multifamily portfolio in Buffalo's West Side/Allentown corridor.
Type:Multifamily
Property size:
5,655 SFPrice / SF:
$221/SF- Added:
- Jan 27, 2026
- Days on Market:
- 114
- Last Refresh:
- Apr 5 at 9:00 pm
Property Features for 308 318 & 348 Virginia St
General Information
- Standard status
- Active
- Size
- 5,655 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1900
Listing agent Nicholas Corto (716) 864-1929
Listing office Hunt Commercial - Buffalo (716) 864-1929
Listing date Jan 27, 2026
Source Huntcommercial
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 Hunt Commercial - Buffalo
HighLights
- High Cash Flow and Cap Rate: Portfolio generates a strong NOI of $102,532 per year with an 8.20% cap rate.
- Prime Location: Located on Virginia Street in Buffalo's desirable West Side/Allentown corridor, near D'Youville College, Elmwood Village, and the Medical Campus.
- Turnkey Condition: Well‑maintained units with solid mechanicals and recent capital improvements.
- Stable Tenancy and Occupancy: Properties feature a strong rental history and consistent occupancy.
- Diversified Unit Mix: Portfolio includes a variety of unit sizes (3‑bedroom, 2‑bedroom, and 1‑bedroom).
- Tenant Paid Utilities: Tenants pay for their own electric, and a majority (7 of 13) also pay for their own heat.
Overview
This portfolio consists of three multi-family properties spanning 13,511 square feet on Virginia Street in Buffalo’s West Side/Allentown area. The portfolio includes properties at 308 Virginia St, 318 Virginia St, and 348 Virginia St. The properties feature stable tenancy, a strong rental history, and consistent occupancy. The gross rent is $11,875 per month, totaling $142,500 annually. The net operating income is $102,532 per year, with an 8.20% capitalization rate. The unit mix includes three 3-bedroom units, two 2-bedroom units, and seven 1-bedroom units. The properties feature well-maintained units and solid mechanical systems. Tenants are responsible for their electric bills, and seven out of thirteen tenants pay for their own heat. Recent capital improvements include work on the roof, boiler, vinyl replacement windows, new gutters and downspouts, several new hot water tanks, new plumbing, fire prevention systems, new laundry units, and new electrical services. Several units have undergone capital expenditure renovations, including painting, kitchen remodels, baths, plumbing, and flooring. The three main properties have stone basements. The location on Virginia Street is near D'Youville College, Allentown, Elmwood Village, the Medical Campus, public transportation, and neighborhood amenities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Buffalo
- County
- Erie
- State
- New York
- Longitude
- -78.8805
- Latitude
- 42.8959
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Thirteen-unit multifamily portfolio in Buffalo's West Side/Allentown corridor.
Where is this apartment building located?
The property is located at 308 318 & 348 Virginia St Buffalo, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: High Cash Flow and Cap Rate: Portfolio generates a strong NOI of $102,532 per year with an 8.20% cap rate.; Prime Location: Located on Virginia Street in Buffalo's desirable West Side/Allentown corridor, near D'Youville College, Elmwood Village, and the Medical Campus.; Turnkey Condition: Well‑maintained units with solid mechanicals and recent capital improvements.
