Building Details

Building Size 5,846 SF

Year Built 1910

Buildings 2

Listing Agency: Litwin Realty

Listed By: Ashley J Litwin · License #10491212742 Show Phone

Source: Highfallssir

Added: Sep 16 Changed: Oct 5 Last Checked: Oct 4 at 2:35PM

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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 Litwin Realty

Investment Insights

Based on property information with market context.

Built in 1910, this historic multifamily property combines a primary residence with additional apartments in a separate carriage house. The front unit includes 5 bedrooms, 2.5 baths, and large first-floor entertaining areas. The main house also offers a full attic with rooms that may be finished and a basement speakeasy area requiring restoration.

The property includes 8 driveway parking spaces plus 3 garage spaces. Recent improvements include a new copper water line connecting the house and carriage house, a wooden backyard fence, and an underground watering system serving the gardens. The address provides walking access to Elmwood Avenue, public transit, restaurants, and seasonal festivals.

The layout supports several residential configurations, including continued separation between the main residence and carriage house apartments. The main house may also be converted into an 8-bedroom residence with 3 full and 2 half bathrooms, subject to applicable approvals.

Key Highlights

• 5‑bedroom front unit with 2.5 baths and large first‑floor entertaining areas
• Carriage house apartments provide separate residential space
• 8 driveway parking spaces plus 3 garage spaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$53,429

Cap Rate

3.24%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,068,580 $1.1M

Cap Rate 7%

$763,271 $763.3K

Cap Rate 9%

$593,656 $593.7K

Market Conditions

NOI Build-Up for 5,846 SF

Gross rent

$101.7K $17.40/SF

− Vacancy

−$4.6K −$0.78/SF

EGI

$97.1K $16.62/SF

− OpEx

−$43.7K −$7.48/SF

NOI

$53.4K $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 Rate 5%

$1,068,580

Cap Rate 7%

$763,271

Cap Rate 9%

$593,656

Alternative Uses

Best Use

Apartment 5plus

$763.3K

$667.9K – $890.5K (±1% cap)

NOI $53,429 @ 7.0% cap · market cap 3.24%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.41M

$1.23M – $1.64M (±1% cap)

NOI $98,409 @ 7.0% cap · market cap 5.96%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick Electrical Service (Bike/Boat/Book/etc) Store HVAC Service Acupuncture Auto Parts Store Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,042

Businesses Nearby

Explore this area Business Placement

Demographics for 14222, NY

13,629

Population

7,355

Households

1.9

Avg Household Size

32

Median Age

63%

College-Educated

98%

High-School Grad

1.2 sq mi

ZIP Area

11,358

Density / Sq Mi

$83,692

Median Household Income

$50,045

Median Earnings

$1,168

Median Rent

$408,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Multifamily property - Multifamily property with carriage house apartments, flexible living arrangements, and substantial outdoor space.

Where is this multifamily property located?

The property is located at 801 West Ferry Street Buffalo, NY.

What is the asking price?

The asking price for this property is $1,650,000.

What are key features of this property?

This property features: 5‑bedroom front unit with 2.5 baths and large first‑floor entertaining areas; Carriage house apartments provide separate residential space; 8 driveway parking spaces plus 3 garage spaces