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255 High Street , Buffalo, NY 14204
255 High Street, Buffalo, NY 14204
3540
sq ft
3
units
3
gas meters
3
electric meters
1
hot water tanks
2
heating units
Unit 1
Vacant
status
3
beds
1
baths
Unit 2
Vacant
status
2
beds
1
baths
Unit 3
Vacant
status
2
half-baths
Unit 1
Vacant
status
3
beds
1
baths
Unit 2
Vacant
status
2
beds
1
baths
Unit 3
Vacant
status
2
half-baths
EXCEPTIONAL INVESTMENT OPPORTUNITY:
INCOME-PRODUCING OPPORTUNITY IN RAPIDLY APPRECIATING NEIGHBORHOOD
Discover an extraordinary investment opportunity in one of Buffalo's fastest-growing areas. This multi-family property features both a front and rear house on a single lot, offering multiple income streams with tremendous upside potential.
PROPERTY HIGHLIGHTS:
- Two Separate Buildings on one 25.63' x 116' lot (0.07 acres)
- Front Building: Retail/commercial space on lower level + 3BR/1BA apartment above
- Rear Building: Standalone 2BR/1BA house with first-floor laundry
- Recently Updated: Brand new tear-off roof on front house (2024)
- New Systems: 2025 electrical service in front house, circuit breakers throughout
- New HVAC: 2025 forced air system in upper apartment and rear house
- Versatile Usage: Lower unit can function as retail space or be converted to apartment
- Income Ready: Rear house is rent-ready immediately
- Multiple Utilities: Property has 3 electric meters, space for 3 gas meters
INCREDIBLE FINANCIALS:
- Potential Gross Income: $46,200.00 annually
- Exceptionally Low Taxes: Only $553.82 total property taxes annually
- Projected NOI: $33,213.00 after all expenses
- Value Based on 10% "Cap Rate": $332,130.00 (nearly DOUBLE the asking price!)
THRIVING LOCATION:
- Medical Hub: Blocks from Buffalo Niagara Medical Corridor including Roswell Park, Buffalo General Hospital, Kaleida Health Offices, Oishei Children's Hospital, and Buffalo Hearing and Speech Center
- Educational Institutions: Walking distance to UB's Jacobs School of Medicine and Biomedical Sciences
- Innovation Centers: Near Center of Excellence Bioinformatics Life Sciences and BNMC Innovation Center
- Downtown Access: Less than 10 blocks to downtown Buffalo
- Amenities Nearby: Tim Hortons, Wendy's, The Original Anchor Bar (birthplace of Buffalo Wings), Buffalo Tikka House, Penny's Coffee, Coco's Bar & Restaurant
- Entertainment: Just blocks away from vibrant Allentown district
INVESTMENT POTENTIAL:
This property offers an exceptional opportunity to capitalize on Buffalo's growing rental market in a rapidly appreciating neighborhood. With the rear house already rent-ready and potential to maximize income from the front building, this investment offers immediate cash flow with significant upside potential.
The incredibly low property taxes ($553.82 annually) and proximity to major medical employers, educational institutions, and downtown Buffalo make this an unbeatable investment opportunity that won't last long at this price point.
Don't miss this chance to own a cash-flowing property in one of Buffalo's hottest neighborhoods. Schedule your showing today!
