5-Unit Apartment Building
For Sale
$799,000
46 Norwood Avenue, Buffalo, NY 14222
MULTI_FAMILY - Buffalo, NY
Property Size7,685 SF
Lot Size0.22 Acres
Price / SF$103.97
Days on Market14
Property Features for 46 Norwood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Rooms
Basement, Bedroom 1, Bedroom 2, Bedroom 4, Bedroom 3
Parking features
Garage
Window features
Skylight(s), Wood Frames
Patio and Porch features
Porch, Patio
Interior features
EntranceFoyer, Storage, Skylights, NaturalWoodwork
Exterior features
BlacktopDriveway, Fence, Patio
Fencing
Fenced
Fireplace
1
Appliances
Dryer, Dishwasher, GasOven, GasRange, GasWaterHeater, Microwave, Refrigerator, Washer
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Richmond Ave or Elmwood Ave to Bryant Street to Norwood Ave (Norwood Ave is one-way)
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-100-610-0002-005-000
Size
7,685 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Annual Amount
12207
Utilities
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1870
Floors in Building
3
Number of units
5
Flooring type
Laminate, Varies, Tile, Hardwood, Carpet
Building materials
WoodSiding, CopperPlumbing
Roof type
Shingle, Flat, Asphalt
Additional Structures
Storage
Listing Agency:
Gurney Becker & Bourne
(716) 849-1234
Listed By:
Jeffrey Moyer · License #10401225154
(716) 818-9042
Added: Jul 18
Changed: Jul 28
Last Checked: Jul 31 at 2:06PM
MLS# B1698573
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 5-unit apartment building totals 7,685 square feet and retains original architectural character throughout. The property features a large solarium and porte-cochere, with interior details including a two-story foyer, grand staircase, decorative fire places, mosaic tile flooring, and leaded glass bay windows. Unit layouts include first-floor and second-floor apartments with two-bedroom and two-bath configurations, as well as additional one-bedroom and studio-style living spaces. Updates reported include a tear-off roof and gutters (2020), two newer Dunkirk boilers (2020), and updated 200-amp electric service (2020), along with a sump pump, ample storage, and parking for 6+ cars.
The building is located at 46 Norwood Avenue in Buffalo, New York, in the Elmwood Village area. The property also includes landscaped outdoor grounds.
The building is located at 46 Norwood Avenue in Buffalo, New York, in the Elmwood Village area. The property also includes landscaped outdoor grounds.
Key Highlights
- 5‑unit apartment building originally built as a single‑family home with 7,685 SF
- Units include 2BD/2BA on the first floor, 2BD/2BA plus 1BD and studio on the second floor, and a 3rd‑floor 2BD/1BA
- Historic interior details include two‑story foyer, grand staircase, leaded glass bay window, natural woodwork, and hardwood/mosaic tile flooring
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 | $133.7k | $17.40 |
| − Vacancy | −$6.0k | −$0.78 |
| EGI | $127.7k | $16.62 |
| − OpEx | −$57.5k | −$7.48 |
| NOI | $70.2k | $9.14 |
7,685 SF · lease $17.40/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.00M
$878.0K – $1.17M
NOI $70,236 @ 7.0% cap · market cap 8.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,366 @ 7.0% cap · market cap 16.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,452
Businesses Nearby
Explore this area
Business Placement
Demographics for 14222, NY
13,629
Population
7,355
Households
1.9
Avg Household Size
32
Median Age
63%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
11,358
Density / Sq Mi
$83,692
Median Household Income
$50,045
Median Earnings
$1,168
Median Rent
$408,100
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?
Apartment building - Five-unit apartment building with multiple updated kitchens, leaded-glass windows, and parking for 6+ vehicles.
Where is this apartment building located?
The property is located at 46 Norwood Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 5‑unit apartment building originally built as a single‑family home with 7,685 SF; Units include 2BD/2BA on the first floor, 2BD/2BA plus 1BD and studio on the second floor, and a 3rd‑floor 2BD/1BA; Historic interior details include two‑story foyer, grand staircase, leaded glass bay window, natural woodwork, and hardwood/mosaic tile flooring
