4-Unit First-Floor
For Sale
$399,000
4181 Legion Drive, Hamburg, NY 14075
Residential, Hamburg, NY
Property Size3,288 SF
Lot Size0.24 Acres
Price / SF$121.35
Days on Market92
Property Features for 4181 Legion Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 4, Basement, Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 6, Bedroom 3, Bedroom 7, Bathroom 1, Bedroom 4
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot
Elementary school district
Hamburg
Middle school district
Hamburg
High school district
Hamburg
Subdivision
Hamburg-Village-144803
Standard status
Active
APN
144803-183-170-0001-015-100
Size
3,288 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Annual Amount
10658
Utilities
Heating system
Natural Gas, Baseboard, Forced Air, Other (Heating)
Cooling system
Central Air
Water source
Public
Amenities
shared laundry facilities
open parking lot
Building Details
Floors in Building
1
Number of units
4
Flooring type
Tile, Varies, Carpet
Building materials
Brick, VinylSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Thejan Kodituwakku · License #10401342241
(716) 292-8756
Added: Jun 5
Changed: Sep 4
Last Checked: Sep 4 at 8:06AM
MLS# B1682197
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4-unit quadplex contains 3,288 square feet arranged as four apartments, all located on the first floor. The building has brick and vinyl siding, central air, natural-gas heating, public water, and a full basement. Shared laundry facilities and an open parking area serve the property, while unit finishes include carpet and tile in varying configurations.
The property is located at 4181 Legion Drive in Hamburg, near the village’s main corridor. Grocery stores, pharmacies, dining, boutiques, gas stations, and public transit are identified in the surrounding area. The site encompasses 0.2397 acres, with a compact multifamily layout and on-site parking.
The property is located at 4181 Legion Drive in Hamburg, near the village’s main corridor. Grocery stores, pharmacies, dining, boutiques, gas stations, and public transit are identified in the surrounding area. The site encompasses 0.2397 acres, with a compact multifamily layout and on-site parking.
Key Highlights
- Four first‑floor apartments within a 3,288‑square‑foot quadplex
- Full basement provides additional storage space
- Open parking area and shared laundry facilities
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,141
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$422,820
$422.8K
Cap Rate 7%
$302,014
$302.0K
Cap Rate 9%
$234,900
$234.9K
Market Conditions
NOI Build-Up for 3,288 SF
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.
Gross rent
$45.4K $13.80/SF
− Vacancy
−$15.2K −$4.61/SF
EGI
$30.2K $9.19/SF
− OpEx
−$9.1K −$2.76/SF
NOI
$21.1K $6.43/SF
Area
Erie County, NY
Vacancy
33.44%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$422,820
Cap Rate 7%
$302,014
Cap Rate 9%
$234,900
Alternative Uses
Best Use
Multifamily LT 5
$302.0K
$264.3K – $352.4K
NOI $21,141 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$271.2K
$237.3K – $316.4K
NOI $18,984 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$718.8K
$628.9K – $838.6K
NOI $50,314 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
553
Businesses Nearby
Explore this area
Business Placement
Demographics for 14075, NY
44,053
Population
20,164
Households
2.2
Avg Household Size
46
Median Age
38%
College-Educated
96%
High-School Grad
39.4 sq mi
ZIP Area
1,118
Density / Sq Mi
$82,083
Median Household Income
$50,934
Median Earnings
$1,129
Median Rent
$246,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Brick-and-vinyl property with shared laundry, public water, central air, and natural-gas heating.
Where is this quadplex located?
The property is located at 4181 Legion Drive Hamburg, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Four first‑floor apartments within a 3,288‑square‑foot quadplex; Full basement provides additional storage space; Open parking area and shared laundry facilities
