348 Virginia Street, Buffalo, NY 14201

Excellent opportunity to acquire a 13-unit cash-flowing portfolio of three multi-family properties spanning 13,511 square feet along Virginia Street in Buffalo’s highly desirable West Side/Allentown corridor. This portfolio includes 308 Virginia St, 318 Virginia St, and 348 Virginia St. All properties feature stable tenancy, strong rental history, and consistent occupancy, making this an ideal addition for investors seeking reliable income in a high-demand rental market. Gross Rent=$11,875 per month, $142,500 annual gross. NOI = $102,532/YR, 8.20% ASKING CAP RATE. A variety of units - Three 3-bedroom, Two 2-bedroom, and Seven 1-bedroom units, offering flexibility in rental offerings to new tenants. The properties offer well-maintained units, solid mechanicals, providing a turnkey operation with limited immediate maintenance needs. Tenants pay for their own electric and 7 of 13 pay for their own heat (6 are paid by landlord). Capital improvements recently addressed roof, boiler, … read more …