Three-Unit Multifamily
New
For Sale
$559,900
32 Irving Place, Buffalo, NY 14201
Separate utilities serve each residence, and residents share an outdoor courtyard.
Property Size3,988 SF
Days on Market6
Property Features for 32 Irving Place
General Information
Standard status
Active
Size
3,988 SF
Total Parking Spaces
4
Property subtype
Multi Family
Units
Unit Mix
1 x 4BR/2BA, 2 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,938
Amenities
shared outdoor courtyard
Building Details
Building Size
3,988 SF
Year Built
1900
Listing Agency:
HUNT Real Estate ERA
Listed By:
John Majewski lll · License #10301221295
(716) 430-9916
Source:
Highfallssir
Added: Sep 30
Changed: Oct 3
Last Checked: Oct 4 at 5:51PM
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 Real Estate ERA
Investment Insights
Based on property information with market context.
Built in 1900, this triplex contains three distinct apartments: a second-floor residence with four bedrooms and two full bathrooms, a first-floor unit with two bedrooms and one full bathroom, and a separate rear apartment with two bedrooms and one full bathroom. Original hardwood flooring runs throughout. Mechanical updates include hot water tanks installed in 2023, 2024, and 2025, plus furnace and AC systems from 2018, 2021, and 2025. The property has four off-street parking spaces and a shared outdoor courtyard.
At 32 Irving Place in Buffalo, the property is steps from the bars, restaurants, nightlife, and entertainment along Allen Street, with access to downtown Buffalo and surrounding city neighborhoods. The three units have separate utilities.
At 32 Irving Place in Buffalo, the property is steps from the bars, restaurants, nightlife, and entertainment along Allen Street, with access to downtown Buffalo and surrounding city neighborhoods. The three units have separate utilities.
Key Highlights
- Three apartments: upper unit has 4 bedrooms and 2 full bathrooms; first‑floor unit has 2 bedrooms and 1 full bathroom; rear unit has 2 bedrooms and 1 full bathroom
- Separate utilities for each of the three residences
- Hot water tanks from 2023, 2024, and 2025; furnace and AC systems from 2018, 2021, and 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,571
Cap Rate
7.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$791,420
$791.4K
Cap Rate 7%
$565,300
$565.3K
Cap Rate 9%
$439,678
$439.7K
Market Conditions
NOI Build-Up for 3,988 SF
Gross rent
$59.8K $15.00/SF
− Vacancy
−$3.3K −$0.83/SF
EGI
$56.5K $14.17/SF
− OpEx
−$17.0K −$4.25/SF
NOI
$39.6K $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%
$791,420
Cap Rate 7%
$565,300
Cap Rate 9%
$439,678
Alternative Uses
Best Use
Multifamily LT 5
$565.3K
$494.6K – $659.5K
NOI $39,571 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$520.7K
$455.6K – $607.5K
NOI $36,448 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$959.0K
$839.2K – $1.12M
NOI $67,132 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,571
Businesses Nearby
Explore this area
Business Placement
Demographics for 14201, NY
12,364
Population
7,172
Households
1.7
Avg Household Size
33
Median Age
39%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
11,240
Density / Sq Mi
$34,204
Median Household Income
$34,081
Median Earnings
$953
Median Rent
$327,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Separate utilities serve each residence, and residents share an outdoor courtyard.
Where is this triplex located?
The property is located at 32 Irving Place Buffalo, NY.
What is the asking price?
The asking price for this property is $559,900.
What are key features of this property?
This property features: Three apartments: upper unit has 4 bedrooms and 2 full bathrooms; first‑floor unit has 2 bedrooms and 1 full bathroom; rear unit has 2 bedrooms and 1 full bathroom; Separate utilities for each of the three residences; Hot water tanks from 2023, 2024, and 2025; furnace and AC systems from 2018, 2021, and 2025
