Updated Four-Unit Apartment
For Sale
$489,000
Pending
631 Kenmore Avenue, Tonawanda, NY 14223
Two-bedroom apartments feature separate utility metering, resident laundry, and off-street parking.
Property Size5,424 SF
Days on Market64
Property Features for 631 Kenmore Avenue
General Information
Standard status
Pending
Size
5,424 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$10,332
Amenities
on-site laundry
off-street parking
Building Details
Building Size
5,424 SF
Year Built
1930
Listing Agency:
Irish Jones Realty
Listed By:
Matthew Irish-Jones · License #10401329866
(716) 245-9469
Source:
Highfallssir
Added: Aug 4
Changed: Oct 2
Last Checked: Oct 5 at 11:54PM
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 Irish Jones Realty
Investment Insights
Based on property information with market context.
Built in 1930, this four-unit apartment property includes two-bedroom layouts in each residence. The apartments have received modern updates, while separately metered utilities support clear allocation of service costs. On-site laundry and off-street parking serve the residents.
One apartment is vacant, offering flexibility for an owner-occupant or a new lease-up. The property is located at 631 Kenmore Avenue in the Town of Tonawanda, near shopping, restaurants, parks, schools, and major commuter routes. Walk Score is 70, Bike Score is 61, and Transit Score is 41.
One apartment is vacant, offering flexibility for an owner-occupant or a new lease-up. The property is located at 631 Kenmore Avenue in the Town of Tonawanda, near shopping, restaurants, parks, schools, and major commuter routes. Walk Score is 70, Bike Score is 61, and Transit Score is 41.
Key Highlights
- Four residential units, each configured with two bedrooms
- Modern updates across the apartments
- Separately metered utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,875
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$697,500
$697.5K
Cap Rate 7%
$498,214
$498.2K
Cap Rate 9%
$387,500
$387.5K
Market Conditions
NOI Build-Up for 5,424 SF
Gross rent
$74.9K $13.80/SF
− Vacancy
−$25.0K −$4.61/SF
EGI
$49.8K $9.19/SF
− OpEx
−$14.9K −$2.76/SF
NOI
$34.9K $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%
$697,500
Cap Rate 7%
$498,214
Cap Rate 9%
$387,500
Alternative Uses
Best Use
Multifamily LT 5
$498.2K
$435.9K – $581.3K
NOI $34,875 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$447.4K
$391.5K – $521.9K
NOI $31,316 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $83,000 @ 7.0% cap · market cap 16.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
Explore this area
Business Placement
Demographics for 14223, NY
22,658
Population
10,586
Households
2.1
Avg Household Size
41
Median Age
44%
College-Educated
97%
High-School Grad
3.5 sq mi
ZIP Area
6,474
Density / Sq Mi
$83,528
Median Household Income
$49,835
Median Earnings
$976
Median Rent
$202,200
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?
Quadplex - Two-bedroom apartments feature separate utility metering, resident laundry, and off-street parking.
Where is this quadplex located?
The property is located at 631 Kenmore Avenue Tonawanda, NY.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Four residential units, each configured with two bedrooms; Modern updates across the apartments; Separately metered utilities
