Modernized Three-Unit
For Sale
$269,000
501 Plymouth Ave, Buffalo, NY 14213
Renovated multifamily property near shops, grocery stores, cafés, restaurants, and schools on Buffalo’s West Side.
Property Size2,400 SF
Price / SF$112.08
Days on Market54
Property Features for 501 Plymouth Ave
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1915
Listing Agency:
Howard Hanna WNY Inc
Listed By:
Melissa M Doerr · License #10401285971
(716) 472-3533
Source:
Skinnercnyrealty
Added: Aug 23
Changed: Oct 14
Last Checked: Oct 7 at 4:58PM
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 Howard Hanna WNY Inc
Investment Insights
Based on property information with market context.
This three-unit triplex at 501 Plymouth Avenue contains approximately 2,400 square feet and was originally built in 1915. The property has undergone comprehensive modernization, with updates throughout the building that support its current residential configuration.
Located on Buffalo’s West Side, the property places residents near shops, grocery stores, cafés, restaurants, and schools. Downtown Buffalo is accessible from the address, and the source information also notes convenient access toward Canada. The three-unit layout and extensive renovations provide a clearly defined multifamily asset for residential income use.
Located on Buffalo’s West Side, the property places residents near shops, grocery stores, cafés, restaurants, and schools. Downtown Buffalo is accessible from the address, and the source information also notes convenient access toward Canada. The three-unit layout and extensive renovations provide a clearly defined multifamily asset for residential income use.
Key Highlights
- Three‑unit triplex at 501 Plymouth Avenue
- Approximately 2,400 square feet
- Built in 1915
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,814
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,280
$476.3K
Cap Rate 7%
$340,200
$340.2K
Cap Rate 9%
$264,600
$264.6K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$36.0K $15.00/SF
− Vacancy
−$2.0K −$0.83/SF
EGI
$34.0K $14.17/SF
− OpEx
−$10.2K −$4.25/SF
NOI
$23.8K $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%
$476,280
Cap Rate 7%
$340,200
Cap Rate 9%
$264,600
Alternative Uses
Best Use
Multifamily LT 5
$340.2K
$297.7K – $396.9K
NOI $23,814 @ 7.0% cap · market cap 8.85%
Second Best
Apartment 5plus
$313.3K
$274.2K – $365.6K
NOI $21,934 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$577.2K
$505.0K – $673.4K
NOI $40,401 @ 7.0% cap · market cap 15.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,028
Businesses Nearby
Explore this area
Business Placement
Demographics for 14213, NY
25,834
Population
11,397
Households
2.3
Avg Household Size
30
Median Age
36%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
13,597
Density / Sq Mi
$52,597
Median Household Income
$36,084
Median Earnings
$1,059
Median Rent
$192,300
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?
Triplex - Renovated multifamily property near shops, grocery stores, cafés, restaurants, and schools on Buffalo’s West Side.
Where is this triplex located?
The property is located at 501 Plymouth Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Three‑unit triplex at 501 Plymouth Avenue; Approximately 2,400 square feet; Built in 1915
