EXCEPTIONAL TURNKEY SHORT-TERM RENTAL INVESTMENT IN HISTORIC ALLENTOWN! House hacking to an extreme level with an owner occupied conventional or FHA loan. Fully renovated & furnished 4-unit property with PROVEN INCOME HISTORY: $97,722 (2022), $94,597 (2023), $100,029 (2024). Strong 8.73% cap rate with $56,775 NOI after ALL expenses. Perfect for investors seeking immediate cash flow in one of Buffalo's most desirable neighborhoods.cComprehensive renovation 7 years ago (city-approved) with ALL NEW systems: plumbing, electrical, HVAC, roof. Building features 2 two-bed/one-bath units and 2 one-bed/one-bath units, each with separate electric/gas, forced air heating, central AC, and 40-gallon hot water tanks. 4,799 sq ft brick building on 0.1-acre lot with valuable off-street parking for 5 vehicles. Prime Allentown location just blocks from Buffalo Niagara Medical Corridor (Roswell Park, Buffalo General, Oishei Children's Hospital, UB Medical School), minutes to downtown, and walking distance to Elmwood Village. Extremely walkable neighborhood surrounded by notable restaurants, bars, and cultural attractions. Potential gross income of $94,200 annually at market rates. Expenses include 5% vacancy/collection loss, 10% property management, and 5% maintenance/repairs. All units currently furnished and ready for continued rental operation. Don't miss this rare opportunity to acquire a high-performing investment property in one of Buffalo's most coveted neighborhoods. SHOWINGS START WEDNESDAY, MAY 7TH. OPEN HOUSE SATURDAY, MAY 10TH FROM 1:00-3:00PM.
Last Agent to Sell the Property
Listing by Iconic Real Estate License #10301221885 Listed on: 05/05/2025
$550,000
Step into the timeless elegance of 242 Norwood Avenue, a remarkably preserved, exquisitely detailed three-unit residence built in 1894. As one of the original homes on the street, this pinnacle of 19th-century architecture showcases the enduring beauty and craftsmanship of a bygone era, gracefully updated for modern living. The first-floor unit is a breathtaking display of early design artistry.
Maxwell Salman AMP Equity Management
$749,000
Well-maintained 5-unit red brick multifamily located in Buffalo’s sought-after Front Park neighborhood. Property includes (3) two-bedroom and (2) one-bedroom apartments, with 2 units currently vacant and 3 others under market rents. With all units brought to market rate, projected gross income is $85,000–$90,000 with an estimated NOI of $70,000. Separately metered utilities with a house meter for
Richard Wadsworth Hanna Commercial
$629,500
Incredible income property opportunity in the heart of the Elmwood Village! This stunning 5-unit offers off street parking for 2, porch or balcony access for 4 units, and long-term tenants. Featuring 1, 2, and 3 bedroom apartments, each with a winning combination of character and functionality! All units offer hardwood floors, fully applianced kitchens, full baths, and large windows for great
Susan Lenahan MJ Peterson Real Estate Inc.
$599,000
Welcome to this well-maintained 4- unit property offering a mix of character, updates, all located on a prime location. The property consists of 2 two bedrooms and 2 one bedroom.Unit 1: rented, one bedroom with carpet, updated kitchen with wooden cabinets, hardwood floors, bathroom with tub and floor-to-ceiling tile.Unit 2: currently vacant, newly remodeled bathroom and kitchen, hardwood
Elizabeth Bauch WNY Metro Roberts Realty
$525,000
CASH FLOWING 6-Unit Apartment for Sale. $3,500+ NET per month. Excellent addition to a portfolio. Tenants pay their own utilities. Apartments 1 and 2 each measure 1,000 sq ft of livable space. Apartments 3,4, and 5 have 1,200 square feet of space each. Expired leases are on a month to month. Solid, brick building. Foundation evenly settled. Lot Size Dimensions 48X144. Erie County Assessed
Francois Bessing Howard Hanna WNY Inc.
$649,900
Welcome to historic Linwood Avenue, where timeless architecture meets modern luxury. Designed by renowned architect Dwayne Lyman in his signature Italianate style, this remarkable two-family home offers a rare combination of elegance, functionality, and income potential. Perfect for an owner-occupant, the expansive three-story primary residence features gleaming hardwood floors, stainless steel
Ryan Burke WNY Metro Roberts Realty
$689,900
Welcome to 578 Richmond Avenue – A Rare Elmwood Village Victorian Masterpiece. Step into a piece of Buffalo’s rich architectural history with this stunning turn-of-the-century Victorian, prominently situated in the heart of the Elmwood Village. Built by a successful lumber baron, this remarkable property is as grand in history as it is in scale, once serving as the home of Buffalo's First Church
Thomas Needham Keller Williams Realty WNY
$799,000
338 Auburn Ave is a rare opportunity to own a fully occupied 8-unit apartment building in Buffalo’s vibrant West Side. Each unit features 1 bedroom and 1 bathroom, ideal for steady rental demand. All utilities are included in rent, simplifying management and appealing to tenants. With a strong rental history and a prime location near Elmwood Village, Five Points, and public transportation,
Kasey Haseley Chubb-Aubrey Leonard Real Estate
$520,000
Exceptional brick Victorian on a beautifully treed setting, strolling distance to the Elmwood Village. Tremendous period integrity, rich hardwoods, proper moldings, and many vintage fixtures from the grand 1920 era of this build. Gorgeous covered front entry, foyer boasting exquisite hardwood trimmings. Rare side-by side two-family, each unit with hardwood staircase, coffered wood DR ceilings,
Amy Benjamin HUNT Real Estate Corporation
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/30/2025 07/30/25 | Sold | $640,500 | -1.5% | $133 / Sq Ft |
| 07/08/2025 07/08/25 | Pending | -- | -- | -- |
| 06/20/2025 06/20/25 | For Sale | $650,000 | 0.0% | $135 / Sq Ft |
| 05/24/2025 05/24/25 | Pending | -- | -- | -- |
| 05/05/2025 05/05/25 | For Sale | $650,000 | -- | $135 / Sq Ft |
Seller's Agent in 2025
Nicholas Giambra
Iconic Real Estate
(716) 670-3721
2 in this area
203 Total Sales
Buyer's Agent in 2025
Marcia Keller
Hunt Real Estate
(716) 440-8831
1 in this area
102 Total Sales
Source: Western New York Real Estate Information Services (WNYREIS)
MLS Number: B1604305
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The data relating to real estate on this web site comes in part from the Internet Data Exchange (IDX) Program of the CNYIS, UNYREIS and WNYREIS. Real estate listings held by firms other than Homes.com, LLC are marked with the IDX logo and include the Listing Broker’s Firm Name.
Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties
are subject to prior sale, change or withdrawal. Neither the listing broker(s) nor Homes.com, LLC shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
© 2025 CNYIS, UNYREIS, WNYREIS. All rights reserved.