Multifamily Portfolio with Vacant
54 South Street Buffalo, NY 14204
54 South Street, Buffalo, NY, 14204
$349,900
For Sale
$349,900
MULTI_FAMILY - Buffalo, NY
Property Size3,297 SF
Lot Size0.07 Acres
Price / SF$106.13
Days on Market8
Property Features for 54 South Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 9
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bathroom 1, Bedroom 9, Bedroom 6, Bedroom 5, Bedroom 7, Bathroom 3, Basement, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 8
- Parking features
- Driveway
- Appliances
- GasWaterHeater
- Standard status
- Active
- APN
- 140200-122-480-0006-015-000
- Size
- 3,297 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2608
Utilities
- Heating system
- Forced Air, Space Heater, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 3
- Building materials
- VinylSiding
Listing Agency
Queen City Realty Group LLC
(716) 923-7407
295 Main Street Suite 123, Buffalo, NY
Listed by
Dominic C Russo · License #30RU0798615
(716) 444-8643
Added: Jul 11 Checked: Jul 18 at 8:06 am
MLS# B1698008
Listing URL
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 sale includes three properties sold together: 54 South Street, 56 South Street, and 1 Tennessee. 54 South is described as a 3/3 double, with $900/month for the upper unit and $850/month for the lower unit. 56 South Street is an empty lot included with the sale of 54 South Street.
Directly behind 54 and 56 South is a single-family home at 1 Tennessee, which rents for $950/month. The information provided also notes that many nearby vacant lots have had new housing built in the neighborhood.
The total lot area provided is 0.0669 acres, and the property size is listed as 3,297 square feet. The SBL number provided is 140200--014-000.
Directly behind 54 and 56 South is a single-family home at 1 Tennessee, which rents for $950/month. The information provided also notes that many nearby vacant lots have had new housing built in the neighborhood.
The total lot area provided is 0.0669 acres, and the property size is listed as 3,297 square feet. The SBL number provided is 140200--014-000.
Key Highlights
- Multiple‑property package: 54 South St and 56 South St are sold together, plus 1 Tennessee with a separate rental unit
- 54 South St is a 3/3 double—$900/month for the upper unit and $850/month for the lower unit
- 1 Tennessee is a single‑family home renting for $950/month
Local 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 | $57.4k | $17.40 |
| − Vacancy | −$2.6k | −$0.78 |
| EGI | $54.8k | $16.62 |
| − OpEx | −$24.7k | −$7.48 |
| NOI | $30.1k | $9.14 |
3,297 SF · lease $17.40/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$467.3K
$408.9K – $545.2K
NOI $32,714 @ 7.0% cap · market cap 9.35%
Second Best
Apartment 5plus
$430.5K
$376.7K – $502.2K
NOI $30,132 @ 7.0% cap · market cap 8.61%
Theoretical Best
Office A
$792.9K
$693.8K – $925.0K
NOI $55,500 @ 7.0% cap · market cap 15.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Sale includes a 3/3 double, a separately rented single-family home, and an additional vacant lot.
Where is this duplex located?
The property is located at 54 South Street Buffalo, NY.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Multiple‑property package: 54 South St and 56 South St are sold together, plus 1 Tennessee with a separate rental unit; 54 South St is a 3/3 double—$900/month for the upper unit and $850/month for the lower unit; 1 Tennessee is a single‑family home renting for $950/month
