Updated Four-Unit
For Sale
$500,000
39 College Street, Buffalo, NY 14201
Occupied apartments retain hardwood floors, original millwork, and dedicated basement laundry and storage.
Property Size4,446 SF
Days on Market60
Property Features for 39 College Street
General Information
Standard status
Active
Size
4,446 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,554
Amenities
laundry
covered front porch
upper-level porch
private rear yard
Building Details
Building Size
4,446 SF
Year Built
1900
Buildings
1
Listing Agency:
HUNT Real Estate ERA
Listed By:
Sean Mattrey · License #10301220699
(716) 807-6401
Source:
Highfallssir
Added: Aug 17
Changed: Oct 3
Last Checked: Oct 15 at 4:54AM
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 Buffalo quadplex contains four one-bedroom, one-bath apartments. The units feature generous living areas, hardwood floors, original trim, doors, and built-in woodwork, along with naturally bright interiors. Kitchens include appliances, cabinetry, and counter space, while the bathrooms are maintained in clean condition. Updated furnaces and individual gas and electric meters serve each apartment.
A full basement provides laundry facilities, storage, and mechanical areas. The unfinished attic adds substantial additional storage space and may offer future use subject to required approvals. Exterior features include a covered front porch, an upper-level porch, and a private rear yard. All four apartments are currently occupied.
A full basement provides laundry facilities, storage, and mechanical areas. The unfinished attic adds substantial additional storage space and may offer future use subject to required approvals. Exterior features include a covered front porch, an upper-level porch, and a private rear yard. All four apartments are currently occupied.
Key Highlights
- Four one‑bedroom, one‑bath apartments
- Individual gas and electric meters for each unit
- Updated furnaces serving the apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,115
Cap Rate
8.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$882,300
$882.3K
Cap Rate 7%
$630,214
$630.2K
Cap Rate 9%
$490,167
$490.2K
Market Conditions
NOI Build-Up for 4,446 SF
Gross rent
$66.7K $15.00/SF
− Vacancy
−$3.7K −$0.83/SF
EGI
$63.0K $14.17/SF
− OpEx
−$18.9K −$4.25/SF
NOI
$44.1K $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%
$882,300
Cap Rate 7%
$630,214
Cap Rate 9%
$490,167
Alternative Uses
Best Use
Multifamily LT 5
$630.2K
$551.4K – $735.3K
NOI $44,115 @ 7.0% cap · market cap 8.82%
Second Best
Apartment 5plus
$580.5K
$507.9K – $677.2K
NOI $40,634 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$1.07M
$935.5K – $1.25M
NOI $74,842 @ 7.0% cap · market cap 14.97%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,473
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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Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Occupied apartments retain hardwood floors, original millwork, and dedicated basement laundry and storage.
Where is this quadplex located?
The property is located at 39 College Street Buffalo, NY.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath apartments; Individual gas and electric meters for each unit; Updated furnaces serving the apartments
