Furnished Six-Unit Apartment
For Sale
$925,000
67 Harvard Pl, Buffalo, NY 14209
Fully furnished multifamily property with laundry equipment, basement storage, a rear garage, and an additional lot.
Property Size5,471 SF
Price / SF$169.07
Days on Market29
Property Features for 67 Harvard Pl
General Information
Standard status
Active
Size
5,471 SF
Property subtype
Multi-Family
Additional Details
Furnished
Yes
Multifamily Units
6
Amenities
washer/dryer
basement storage
Building Details
Year Built
1930
Listing Agency:
WNY Metro Roberts Realty
(716) 913-0662
Listed By:
Shannon G Szalay · License #10401311154
Source:
Thejoshjamesteam
Added: Aug 1
Changed: Aug 28
Last Checked: Aug 28 at 9:11PM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This six-unit apartment building offers 5,471 square feet of furnished residential space in a 1930-built property that has been redone throughout. Furnishings include high-end leather pieces, while washers, dryers, and toiletries are provided. Each tenant has dedicated storage space in the basement, and a large garage is located at the rear.
An additional lot next door is included with the property. The building is located at 67 Harvard Pl in Buffalo, directly in the Canisius College area, providing a college-adjacent setting for this furnished multifamily asset.
An additional lot next door is included with the property. The building is located at 67 Harvard Pl in Buffalo, directly in the Canisius College area, providing a college-adjacent setting for this furnished multifamily asset.
Key Highlights
- Six‑unit apartment building with 5,471 square feet
- Fully furnished with high‑end leather furnishings
- Washers, dryers, and toiletries included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,001
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,000,020
$1.0M
Cap Rate 7%
$714,300
$714.3K
Cap Rate 9%
$555,567
$555.6K
Market Conditions
NOI Build-Up for 5,471 SF
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.
Gross rent
$95.2K $17.40/SF
− Vacancy
−$4.3K −$0.78/SF
EGI
$90.9K $16.62/SF
− OpEx
−$40.9K −$7.48/SF
NOI
$50.0K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,000,020
Cap Rate 7%
$714,300
Cap Rate 9%
$555,567
Alternative Uses
Best Use
Apartment 5plus
$714.3K
$625.0K – $833.4K
NOI $50,001 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.15M – $1.53M
NOI $92,097 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,113
Businesses Nearby
Explore this area
Business Placement
Demographics for 14209, NY
8,251
Population
4,729
Households
1.7
Avg Household Size
39
Median Age
46%
College-Educated
90%
High-School Grad
1.0 sq mi
ZIP Area
8,251
Density / Sq Mi
$49,359
Median Household Income
$33,329
Median Earnings
$1,025
Median Rent
$408,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully furnished multifamily property with laundry equipment, basement storage, a rear garage, and an additional lot.
Where is this apartment building located?
The property is located at 67 Harvard Pl Buffalo, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Six‑unit apartment building with 5,471 square feet; Fully furnished with high‑end leather furnishings; Washers, dryers, and toiletries included
