Side-by-Side
New
For Sale
$960,000
703 Saint Lawrence Avenue, Buffalo, NY 14216
Two separately deeded rental buildings provide eight apartments and share access to a rear parking area.
Property Size4,896 SF
Price / SF$196.08
Days on Market2
Property Features for 703 Saint Lawrence Avenue
General Information
Standard status
Active
Size
4,896 SF
Total Parking Spaces
10
Property subtype
Multi Family
Site & Location
Neighborhood
Central Park
Utilities to Site
Yes
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Individually Metered Utilities
gas, electricity
Additional Details
Tenant in Place
Yes
Amenities
washer and dryer hookups
additional storage
Building Details
Buildings
2
Listing Agency:
Gurney Becker & Bourne
(716) 849-1234
Listed By:
Gary Greco Jr · License #10401251303
(716) 208-5340
Source:
Nicholcityrealty
Added: Oct 30
Last Checked: Oct 30 at 3:19PM
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 Gurney Becker & Bourne
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Investment Insights
Based on property information with market context.
Two neighboring quadplexes at 703 and 709 St. Lawrence Avenue contain eight apartments in total. Each residence has two bedrooms, one full bathroom, a living room, and an eat-in kitchen. The buildings are separately deeded and share a driveway to a rear parking area with approximately 10 spaces. The stated property size is 4,896 square feet.
Each apartment has separate gas and electric service, a forced-air furnace, and an individual hot water tank. The full basement includes tenant washer and dryer hookups, storage space, and sump pumps. Exterior features include brick and vinyl siding, along with replacement windows. The properties are on the corner of Starin Avenue, a few blocks from Hertel Avenue in North Buffalo.
Each apartment has separate gas and electric service, a forced-air furnace, and an individual hot water tank. The full basement includes tenant washer and dryer hookups, storage space, and sump pumps. Exterior features include brick and vinyl siding, along with replacement windows. The properties are on the corner of Starin Avenue, a few blocks from Hertel Avenue in North Buffalo.
Key Highlights
- Two side‑by‑side quadplexes contain eight apartments altogether
- Each building is separately deeded
- Each apartment has 2 bedrooms, 1 full bathroom, a living room, and an eat‑in kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,581
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$971,620
$971.6K
Cap Rate 7%
$694,014
$694.0K
Cap Rate 9%
$539,789
$539.8K
Market Conditions
NOI Build-Up for 4,896 SF
Gross rent
$73.4K $15.00/SF
− Vacancy
−$4.0K −$0.83/SF
EGI
$69.4K $14.17/SF
− OpEx
−$20.8K −$4.25/SF
NOI
$48.6K $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%
$971,620
Cap Rate 7%
$694,014
Cap Rate 9%
$539,789
Alternative Uses
Best Use
Multifamily LT 5
$694.0K
$607.3K – $809.7K
NOI $48,581 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$639.2K
$559.3K – $745.8K
NOI $44,746 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,417 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
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Business Placement
Demographics for 14216, NY
22,979
Population
12,773
Households
1.8
Avg Household Size
37
Median Age
54%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
8,207
Density / Sq Mi
$70,260
Median Household Income
$47,823
Median Earnings
$1,152
Median Rent
$260,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Two separately deeded rental buildings provide eight apartments and share access to a rear parking area.
Where is this quadplex located?
The property is located at 703 Saint Lawrence Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: Two side‑by‑side quadplexes contain eight apartments altogether; Each building is separately deeded; Each apartment has 2 bedrooms, 1 full bathroom, a living room, and an eat‑in kitchen
