4-Unit Brick
471-473 Virginia Street, Buffalo, NY 14202
For Sale
New
$950,000
Each residence has garage space, with the four spaces located in an oversized garage.
Property Size7,786 SF
Days on Market6
Property Features for 471-473 Virginia Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Asking Price
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Construction
Listing Agency:
REMAX North
Listed By:
Dave J Measer · License NY 30ME0483611
(716) 725-3106
Source:
Highfallssir
Added: Nov 9
Changed: Nov 12
Last Checked: Nov 12 at 2:37PM
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 REMAX North
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1892, this brick quadplex contains four residences and nearly 8,000 square feet. Two upper-floor apartments each exceed 2,000 square feet and include three bedrooms and two bathrooms. The first floor is arranged as a front residence and a rear residence.
The property is in Buffalo’s Allentown neighborhood. Garage space is provided for each unit within an oversized garage.
The property is in Buffalo’s Allentown neighborhood. Garage space is provided for each unit within an oversized garage.
Key Highlights
- Four‑unit brick property built in 1892
- Nearly 8000 square feet across the four residences
- Second- and third‑floor units each exceed 2000 square feet and have 3 bedrooms and 2 baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,257
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,545,140
$1.5M
Cap Rate 7%
$1,103,671
$1.1M
Cap Rate 9%
$858,411
$858.4K
Market Conditions
NOI Build-Up for 7,786 SF
Gross rent
$116.8K $15.00/SF
− Vacancy
−$6.4K −$0.83/SF
EGI
$110.4K $14.17/SF
− OpEx
−$33.1K −$4.25/SF
NOI
$77.3K $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%
$1,545,140
Cap Rate 7%
$1,103,671
Cap Rate 9%
$858,411
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$965.7K – $1.29M
NOI $77,257 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$1.02M
$889.5K – $1.19M
NOI $71,159 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$1.87M
$1.64M – $2.18M
NOI $131,066 @ 7.0% cap · market cap 13.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
5,495
Businesses Nearby
Explore this area
Business Placement
Demographics for 14202, NY
3,850
Population
2,452
Households
1.6
Avg Household Size
38
Median Age
45%
College-Educated
92%
High-School Grad
0.9 sq mi
ZIP Area
4,278
Density / Sq Mi
$47,990
Median Household Income
$36,936
Median Earnings
$709
Median Rent
$495,800
Median Home Value
Market
Average Price Trend$/SF for Quadplexes in Buffalo, NY
Properties on Market for Quadplexes in Buffalo
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has garage space, with the four spaces located in an oversized garage.
Where is this quadplex located?
The property is located at 471-473 Virginia Street Buffalo, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Four‑unit brick property built in 1892; Nearly 8000 square feet across the four residences; Second- and third‑floor units each exceed 2000 square feet and have 3 bedrooms and 2 baths
