8-Unit Apartment
338 Auburn Avenue Buffalo, NY 14213
For Sale
$749,000
An 8-unit building with 1 bed and 1 bath units, with rents including utilities.
Property Size6,319 SF
Price / SF$118.53
Days on Market101
Property Features for 338 Auburn Avenue
General Information
Standard status
Active
Size
6,319 SF
Property subtype
Multi Family / Other
Building Details
Year Built
1892
Listing Agency:
Chubb-Aubrey Leonard Real Estate
(716) 631-8300
Listed By:
Kasey J Haseley · License #10401374102
(716) 631-8300
Source:
Compass
Added: Apr 20
Changed: Jul 23
Last Checked: Jul 29 at 2:10PM
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 Chubb-Aubrey Leonard Real Estate
Investment Insights
Based on property information with market context.
338 Auburn Ave is an 8-unit apartment building with all units configured as 1 bedroom and 1 bathroom. The property’s common areas are fully sprinklered, and rents include all utilities, which can simplify day-to-day tenant billing.
Located on Buffalo’s West Side near Elmwood Village, Five Points, and public transit, the building benefits from proximity to established neighborhood activity and transit access.
With a consistent unit mix and in-place rental history, this property is positioned for investors seeking a straightforward residential income asset.
Located on Buffalo’s West Side near Elmwood Village, Five Points, and public transit, the building benefits from proximity to established neighborhood activity and transit access.
With a consistent unit mix and in-place rental history, this property is positioned for investors seeking a straightforward residential income asset.
Key Highlights
- 8‑unit apartment building on Buffalo’s West Side; each unit is 1 bed and 1 bath
- Average in‑place rents are $985, and rents include all utilities
- Total building size is 6,319 SF; two levels
Financial Insights For Apartment 5plus
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 | $110.0k | $17.40 |
| − Vacancy | −$4.9k | −$0.78 |
| EGI | $105.0k | $16.62 |
| − OpEx | −$47.3k | −$7.48 |
| NOI | $57.8k | $9.14 |
6,319 SF · lease $17.40/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$825.0K
$721.9K – $962.5K
NOI $57,752 @ 7.0% cap · market cap 7.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,372 @ 7.0% cap · market cap 14.20%
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?
Apartment building - An 8-unit building with 1 bed and 1 bath units, with rents including utilities.
Where is this apartment building located?
The property is located at 338 Auburn Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 8‑unit apartment building on Buffalo’s West Side; each unit is 1 bed and 1 bath; Average in‑place rents are $985, and rents include all utilities; Total building size is 6,319 SF; two levels
