31 Tamarack St Buffalo, NY 14220-1780
- Investment properties
- 17,478 SF
Mar 14, 2025
Current Use by Public Records
- School Lofts at Abbott / Housing Development
Property Details for 31 Tamarack St
- Year built
- 1922
- Property size
- 17,478 SF
- Zone code
- N-3R
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 140200 133.32-5-1.12
- APU
- 140200133325112
Description
This stunning 32-unit apartment building, located at 31 Tamarack St in Buffalo, NY, presents a unique investment opportunity. Originally constructed in 1926 and extensively renovated in 2016, this Class A property boasts 53,390 square feet and offers a compelling 7.50% cap rate. The building, a converted historic schoolhouse, features spacious loft apartments with 12-foot ceilings and large windows, maximizing natural light. Each unit includes high-efficiency central air conditioning and heating, energy-rated appliances, and an in-unit washer and dryer. Many original historic features, such as hardwood floors, slate blackboards, and original doors and hardware, have been meticulously preserved and restored. On-site parking is also available. With a price of $3,500,000 ($109,375 per unit and $65.56 per square foot), this property offers a blend of historical character and modern amenities in a desirable South Buffalo location, presenting significant potential for future growth and strong rental income. The property is situated in Erie County, NY, zip code 14220.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,440,000
- ML approach
- $2,930,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $4,025,000
- 6.5%
- $3,715,000
- 7%
- $3,450,000
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Location Insight
- Map
- Local Demand
- City
- Buffalo
- County
- Erie
- State
- New York
- Longitude
- -78.8148
- Latitude
- 42.8511
- CBSA code
- 15380
- CBSA name
- BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA
