399 Elmwood Avenue

About this home

Seize the opportunity to acquire this 4-unit side-by-side brick multifamily hiding in plain sight in one of Buffalo's most central and convenient locations. Situated at 399 S. Elmwood Ave. in downtown Buffalo (Accessible from Virginia Ave), this 6,400 square foot income-producing property offers tremendous value-add potential with below-market rents and expense improvement opportunities, creating a clear opportunity to increase cash flow and enhance long-term returns immediately. Actual Gross Income of $51,420 annually, potential gross of $71,400 (7.72% CAP RATE). Its prime location places tenants just minutes from Downtown Buffalo, the Buffalo Niagara Medical Campus, Allentown, Elmwood Village, waterfront attractions, and major employment centers, supporting strong rental demand. Constructed entirely of brick hidden beneath the exterior's ivy canvas, the property offers the durability and lower-maintenance benefits that investors appreciate, while the rare side-by-side layout for the end units provides desirable unit separation and privacy. Includes a European Style courtyard for BBQ and outdoor recreation. The middle unit divides into upper/lower (3rd and 4th units). One of the property's greatest advantages is its 4-unit configuration and the overall uniqueness of the units as well as the very tall ceiling heights giving it a personal and home-like feel which tenants will be hard pressed to find elsewhere. Unlike larger apartment buildings, will qualify for residential conventional financing, giving investors access to financing options that can be more attractive than commercial loans in addition to tax advantages, making this an appealing acquisition for both experienced investors and those looking to scale into multifamily ownership. Whether your strategy is to renovate units, bring rents to market levels, improve operations, or build long-term equity through appreciation and increased income, this property presents an exceptional opportunity to unlock significant upside. Well-located four-unit investments with durable brick construction and clear value-add potential are increasingly difficult to find—don't miss your chance to add this to your portfolio.

Appliances

• Gas Water Heater

Mechanical

Schools

Tax & finance

Location

Buffalo, NY 14201 · Erie County

Open in Google Maps ↗