Side-by-Side
New
For Sale
$400,000
5215 Electric Ave, Hamburg, NY 14075
Each residence spans two stories and includes separate laundry, basement storage, and gas and electric service.
Property Size2,478 SF
Days on Market6
Property Features for 5215 Electric Ave
General Information
Standard status
Active
Size
2,478 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Individually Metered Utilities
gas, electricity
Taxes and HOA fees
Annual Taxes
$7,063
Amenities
individual laundry
shared porch
fully fenced yard
Building Details
Building Size
2,478 SF
Year Built
1970
Buildings
1
Stories
2
Units
2
Listing Agency:
Trank Real Estate
Listed By:
Brenda O'Connor
(716) 864-9334
Source:
Elliman
Added: Oct 30
Changed: Oct 31
Last Checked: Nov 3 at 6:52AM
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 Trank Real Estate
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Investment Insights
Based on property information with market context.
This 1970-built duplex at 5215 Electric Ave in Hamburg contains two side-by-side residences, each arranged over two stories with three bedrooms, 1.5 baths, a living room, and a kitchen. Each unit has its own basement and laundry. The left residence also includes an 18-by-14-foot family room with French doors opening onto a shared rear porch. The yard is fenced, with no homes behind it.
A two-car garage provides one covered parking space for each residence, and the property has double-width driveways for additional parking. Gas and electric service are separately metered; the landlord pays water and sewer. The property is located between Sowles Road and Scranton Road.
A two-car garage provides one covered parking space for each residence, and the property has double-width driveways for additional parking. Gas and electric service are separately metered; the landlord pays water and sewer. The property is located between Sowles Road and Scranton Road.
Key Highlights
- Two residences, each with 3 bedrooms and 1.5 baths
- Each unit has a separate basement and laundry
- Left unit includes an 18x14 family room with French doors to the shared rear porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,933
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$318,660
$318.7K
Cap Rate 7%
$227,614
$227.6K
Cap Rate 9%
$177,033
$177.0K
Market Conditions
NOI Build-Up for 2,478 SF
Gross rent
$34.2K $13.80/SF
− Vacancy
−$11.4K −$4.61/SF
EGI
$22.8K $9.19/SF
− OpEx
−$6.8K −$2.76/SF
NOI
$15.9K $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 Rate 5%
$318,660
Cap Rate 7%
$227,614
Cap Rate 9%
$177,033
Alternative Uses
Best Use
Multifamily LT 5
$227.6K
$199.2K – $265.6K
NOI $15,933 @ 7.0% cap · market cap 3.98%
Second Best
Apartment 5plus
$204.4K
$178.8K – $238.5K
NOI $14,307 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$541.7K
$474.0K – $632.0K
NOI $37,919 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence spans two stories and includes separate laundry, basement storage, and gas and electric service.
Where is this duplex located?
The property is located at 5215 Electric Ave Hamburg, NY.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 1.5 baths; Each unit has a separate basement and laundry; Left unit includes an 18x14 family room with French doors to the shared rear porch
