Renovated Four-Unit Apartment
For Sale
$474,900
767 West Avenue, Buffalo, NY 14213
Residential, Buffalo, NY
Property Size3,938 SF
Lot Size0.07 Acres
Price / SF$120.59
Days on Market104
Property Features for 767 West Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 5, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 6, Bedroom 8, Bedroom 7, Bedroom 9, Bedroom 3, Basement, Bathroom 2, Bedroom 4, Bathroom 1
Parking features
On Street, Driveway
Interior features
Attic
Appliances
GasWaterHeater
Subdivision
Buffalo
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Standard status
Active
APN
140200-099-500-0002-018-000
Size
3,938 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
6710
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
4
Flooring type
Varies, Vinyl
Building materials
VinylSiding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Dalton Reynolds · License #10401342408
(716) 352-8679
Added: Jun 1
Changed: Sep 11
Last Checked: Sep 12 at 10:06PM
MLS# B1686290
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.
Located at 767 West Avenue in Buffalo, this multifamily property contains four apartments within a 3,938-square-foot building. The interiors have been renovated with updated kitchens and bathrooms, while a finished attic provides additional usable space. The room inventory includes nine bedrooms and four bathrooms.
Constructed in 1900, the building has vinyl siding, a shingle roof, and a natural-gas forced-air heating system. Public water serves the property, and parking is provided through a driveway and on-street spaces. Its West Side location offers access to public transportation and nearby amenities.
Constructed in 1900, the building has vinyl siding, a shingle roof, and a natural-gas forced-air heating system. Public water serves the property, and parking is provided through a driveway and on-street spaces. Its West Side location offers access to public transportation and nearby amenities.
Key Highlights
- Four apartments in a 3,938‑square‑foot multifamily building
- Nine bedrooms and four bathrooms across the property
- Renovated interiors with updated kitchens and bathrooms
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
$39,075
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
8.23%
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%
$781,500
$781.5K
Cap Rate 7%
$558,214
$558.2K
Cap Rate 9%
$434,167
$434.2K
Market Conditions
NOI Build-Up for 3,938 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
$59.1K $15.00/SF
− Vacancy
−$3.2K −$0.83/SF
EGI
$55.8K $14.17/SF
− OpEx
−$16.7K −$4.25/SF
NOI
$39.1K $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 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%
$781,500
Cap Rate 7%
$558,214
Cap Rate 9%
$434,167
Alternative Uses
Best Use
Multifamily LT 5
$558.2K
$488.4K – $651.3K
NOI $39,075 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$514.2K
$449.9K – $599.9K
NOI $35,991 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$947.0K
$828.6K – $1.10M
NOI $66,291 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
950
Businesses Nearby
Explore this area
Business Placement
Demographics for 14213, NY
25,834
Population
11,397
Households
2.3
Avg Household Size
30
Median Age
36%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
13,597
Density / Sq Mi
$52,597
Median Household Income
$36,084
Median Earnings
$1,059
Median Rent
$192,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments include updated kitchens, bathrooms, and finished attic space.
Where is this quadplex located?
The property is located at 767 West Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Four apartments in a 3,938‑square‑foot multifamily building; Nine bedrooms and four bathrooms across the property; Renovated interiors with updated kitchens and bathrooms
