5-Unit Apartment Building with
New
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 Market6
Property Features for 46 Norwood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 3, Bathroom 2, Bathroom 4, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 6, Bedroom 6, Bathroom 5, Bedroom 7, Bedroom 5, Bathroom 3, Bedroom 2, Basement
Window features
Skylight(s), Wood Frames
Patio and Porch features
Patio, Porch
Interior features
EntranceFoyer, Storage, Skylights, NaturalWoodwork
Exterior features
Fence, Patio
Fencing
Fenced
Fireplace
1
Appliances
GasWaterHeater
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 to Bryant St to Norwood Ave (Norwood 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
Amenities
solarium
porte-cochere
mosaic tile floor
two-story foyer
grand staircase
ornate banister
leaded glass bay window
hardwood floors
decorative fireplace
private porch
manicured gardens
storage
Building Details
Year built
1870
Floors in Building
3
Number of units
5
Flooring type
Carpet, Laminate, Varies, Hardwood, Tile
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 27
Changed: Aug 1
Last Checked: Aug 1 at 5:06PM
MLS# B1701284
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 spans 7,685 square feet on a 0.22-acre lot and is presented with historic character and functional updates. The exterior features a large solarium and porte-cochere. Inside, a two-story foyer with a grand staircase, ornate banister, and leaded glass bay window sets the tone, with interior details including mosaic tile flooring, leaded glass windows, natural woodwork, and a mix of hardwood and tile.
The first floor includes a 2-bedroom, 2-bath apartment with an updated eat-in kitchen, laundry hookups, hardwood floors, and a formal dining room with a coffered ceiling, plus a living room with a decorative fireplace opening to the semi-circular solarium. The second floor offers a 2-bedroom, 2-bath apartment with an updated kitchen and private porch, a 1-bedroom unit with a decorative fireplace and bay window, and a studio with kitchenette that could be combined with the 1-bedroom. The third-floor apartment includes 2 bedrooms, 1 bath, an eat-in kitchen, and a living room with a decorative fireplace and arched windows.
Additional improvements include a tear-off roof and gutters installed in 2020, two newer Dunkirk boilers added in 2020, and an updated 200-amp electric service in 2020, along with a sump pump. The property also offers parking for 6+ cars, plus fenced outdoor space with patio and garden features.
The first floor includes a 2-bedroom, 2-bath apartment with an updated eat-in kitchen, laundry hookups, hardwood floors, and a formal dining room with a coffered ceiling, plus a living room with a decorative fireplace opening to the semi-circular solarium. The second floor offers a 2-bedroom, 2-bath apartment with an updated kitchen and private porch, a 1-bedroom unit with a decorative fireplace and bay window, and a studio with kitchenette that could be combined with the 1-bedroom. The third-floor apartment includes 2 bedrooms, 1 bath, an eat-in kitchen, and a living room with a decorative fireplace and arched windows.
Additional improvements include a tear-off roof and gutters installed in 2020, two newer Dunkirk boilers added in 2020, and an updated 200-amp electric service in 2020, along with a sump pump. The property also offers parking for 6+ cars, plus fenced outdoor space with patio and garden features.
Key Highlights
- 5‑unit apartment building with solarium and porte‑cochere on a 0.22‑acre lot
- 7,685 square feet of living space with a two‑story foyer, grand staircase, and leaded glass bay window
- Historic structure built in 1870 with mosaic tile flooring, decorative fireplaces, and leaded glass windows
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 - Built in 1870 with updates including a 2020 roof, two 2020 boilers, and updated electric service.
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 with solarium and porte‑cochere on a 0.22‑acre lot; 7,685 square feet of living space with a two‑story foyer, grand staircase, and leaded glass bay window; Historic structure built in 1870 with mosaic tile flooring, decorative fireplaces, and leaded glass windows
