Investor Opportunity – 42-Unit Redevelopment in Prime Downtown Niagara Falls 628 9th Street, Niagara Falls, NY Exceptional opportunity to acquire a 42-unit multifamily asset located in the heart of downtown Niagara Falls Situated directly across from a major hospital, one block from the courthouse, and minutes from Niagara Falls State Park, this property offers unparalleled proximity to major employers, infrastructure, and one of the world’s top tourist destinations. This partially completed redevelopment project is primed for a new investor to step in and capitalize. All preliminary work has been professionally completed, including: Environmental study Interior demolition & cleanup Rough plumbing Third-party appraisal This project offers flexibility for a range of investment strategies—long-term rentals, short-term furnished units, or mixed-use potential. Property Highlights: 42 units Prime downtown location in a high-demand rental corridor Strong tenant base from nearby hospital, courthouse, and tourism industry High upside for cash flow and equity growth Limited downtown inventory = competitive advantage Ideal for 1031 exchange or portfolio expansion Unlock substantial value-add potential in one of Western New York’s fastest-growing markets. All the groundwork is done—bring your vision and complete the project. Offered As-Is. Serious Inquiries Only. There is a current accepted offer that can be cancelled unilaterally by the seller if there is a satisfactory offer.
Listing by Pioneer Star Real Estate Inc.License #10301217718
Property Details
Home Type
Multi-Family
Est. Annual Taxes
$13,696
Year Built
Built in 1958
Lot Details
0.5 Acre Lot
Lot Dimensions are 165x132
Rectangular Lot
Interior Spaces
42 Bedrooms
31,464 Sq Ft Home
4-Story Property
Basement Fills Entire Space Under The House
Flooring
Tile
Vinyl
Parking
No Garage
Driveway
Additional Features
Property is near public transit
Gas Water Heater
Listing and Financial Details
Tax Lot 52
Assessor Parcel Number 291100-159-022-0003-052-000
Community Details
Overview
42 Units
Mile Reserve Subdivision
Amenities
Community Storage Space
Property Details
Home Type
Multi-Family
Est. Annual Taxes
$13,696
Year Built
Built in 1958
Lot Details
0
Listing Details
Property Sub Type: Other
Property Type: Multi Family
Rent Includes: Other, See Remarks, Snow Removal, Water
Year Built: 1958
Lot Features: Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Road Frontage Type: City Street
Co List Office Mls Id: PSRE
Co List Office Phone: 716-689-7250
Subdivision Name: Mile Reserve
Flooring: Other, See Remarks, Tile, Varies, Vinyl
Garage Yn: No
Year Built Details: Existing
Property Sub Type Additional: Other
Special Features: None
Interior Features
Appliances: Gas Water Heater
Basement: Full
Basement YN: Yes
Total Bedrooms: 42
Stories: 4
Stories: 4
Exterior Features
Acres: 0.5
Waterfront: No
Construction Type: Block, Concrete
Garage/Parking
Parking Features: Driveway, No Garage
Utilities
Cooling: Other, See Remarks
Heating: Other, See Remarks
Utilities: Sewer Connected, Water Connected
Water Source: Connected, Public
Condo/Co-op/Association
Community Features: Other, Storage Facilities, See Remarks
Senior Community: No
Schools
Junior High Dist: Niagara Falls
Lot Info
Parcel Number: 291100-159-022-0003-052-000
Lot Dimensions: 165X132
Lot Size Sq Ft: 21780.0
ResoLotSizeUnits: Acres
Multi Family
Number Of Units Total: 42
Tax Info
Tax Annual Amount: 13696.0
Tax Lot: 52
Map
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Home Values in the Area
Source: Public Records
Average Home Value in this Area
Source: Public Records
Tax History
Year
Tax Paid
Tax AssessmentTax Assessment
Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property.
Land
Improvement
2024
$11,777
$200,000
$43,600
$156,400
2023
$58,714
$200,000
$43,600
$156,400
2022
$5,850
$200,000
$43,600
$156,400
2021
$5,849
$200,000
$43,600
$156,400
2020
$3,881
$200,000
$43,600
$156,400
2019
$3,726
$200,000
$43,600
$156,400
2018
$5,747
$200,000
$43,600
$156,400
2017
$3,726
$200,000
$43,600
$156,400
2016
$7,044
$200,000
$43,600
$156,400
2015
--
$200,000
$43,600
$156,400
2014
--
$200,000
$43,600
$156,400
Source: Public Records
Property History
Date
Event
Price
List to Sale
Price per Sq Ft
Prior Sale
12/15/202512/15/25
For Sale
$1,430,000
0.0%
$45 / Sq Ft
10/01/202510/01/25
Pending
--
--
--
09/10/202509/10/25
For Sale
$1,430,000
+54.6%
$45 / Sq Ft
07/24/202407/24/24
Sold
$925,000
-26.0%
$29 / Sq Ft
View Prior Sale
03/04/202403/04/24
Pending
--
--
--
02/28/202402/28/24
For Sale
$1,249,900
0.0%
$40 / Sq Ft
02/16/202402/16/24
Pending
--
--
--
02/03/202402/03/24
For Sale
$1,249,900
0.0%
$40 / Sq Ft
01/18/202401/18/24
Pending
--
--
--
12/19/202312/19/23
For Sale
$1,249,900
0.0%
$40 / Sq Ft
11/29/202311/29/23
Pending
--
--
--
11/29/202311/29/23
For Sale
$1,249,900
+35.1%
$40 / Sq Ft
11/24/202311/24/23
Off Market
$925,000
--
--
10/20/202310/20/23
Price Changed
$1,249,900
-16.7%
$40 / Sq Ft
08/25/202308/25/23
For Sale
$1,499,900
--
$48 / Sq Ft
Source: Western New York Real Estate Information Services (WNYREIS)
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Pushpa GunatilakePioneer Star Real Estate Inc.
Source: Western New York Real Estate Information Services (WNYREIS)
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