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58 Park Street , Buffalo, NY 14201
58 Park Street, Buffalo, NY 14201
4799
sq ft
4
units
4
gas meters
5
electric meters
4
hot water tanks
4
heating units
4
cooling units
Unit 1
Vacant
status
2
beds
1
baths
Unit 2
Vacant
status
2
beds
1
baths
Unit 3
Vacant
status
1
beds
1
baths
Unit 1
Vacant
status
2
beds
1
baths
Unit 2
Vacant
status
2
beds
1
baths
Unit 3
Vacant
status
1
beds
1
baths
Premium 4-Unit Allentown Investment Opportunity
EXCEPTIONAL TURNKEY SHORT-TERM RENTAL INVESTMENT WITH PROVEN INCOME HISTORY
Rare opportunity to acquire a fully renovated and furnished 4-unit property in Buffalo's historic Allentown district. This premium investment at 58 Park Street offers immediate cash flow and has track-record as a profitable short-term rental operation generating $90,000+ annually.
Investment Highlights
- Proven Income History: Documented AirBnB revenues of $97,722 (2022), $94,597 (2023), and $100,029 (2024)
- As a Monthly Rental Earn a Strong 8.73% Cap Rate: Exceptional return for the neighborhood, property type, & property condition
- Fully Furnished 4-Unit Building: All units come completely furnished and ready for continued rental operation
- Comprehensive Renovation: Entire building renovated 7 years ago with city approval - all systems replaced
- Separate Utilities: Individual electric, gas, heat, and air-conditioning services for all units
- Off-Street Parking: Valuable concrete and gravel parking area with 5 dedicated spots
Property Specifications
- Building Size: 4,799 square feet on a 38.25' x 120' lot (0.1 acres)
- Construction: Brick exterior with full basement
- Roof: 7 years old (replaced during renovation)
- Unit Mix:
- Unit 1: 2 bed/1 bath
- Unit 2: 2 bed/1 bath
- Unit 3: 1 bed/1 bath
- Unit 4: 1 bed/1 bath
- Mechanical Systems: All units feature:
- Forced air heating and central air conditioning (7 years old)
- Gas hot water tanks (7 years old)
- Modern and separate circuit breaker electrical service
- New plumbing with copper/PEX supply lines and steel/PVC waste lines
Financial Performance
- Potential Gross Income: $94,200 annually at market rate for monthly furnished rentals
- Net Operating Income: $56,775.94 after ALL expenses
- Included in Expense Calculations:
- 5% vacancy and collection loss
- 10% property management
- 5% maintenance and repairs
- Asking Price: $650,000
- Capitalization Rate: 8.73%
Prime Allentown Location
Located in one of Buffalo's most desirable and historic neighborhoods:
- Extremely Walkable: Pedestrian-friendly area with high Walk Score
- Historic District: Renowned for its architectural charm and character
- Buffalo Niagara Medical Corridor: Just blocks from:
- Roswell Park Cancer Institute
- Buffalo General Hospital
- Oishei Children's Hospital
- Kaleida Health Offices
- Buffalo Hearing and Speech Center
- UB's Jacobs School of Medicine and Biomedical Sciences
- Center of Excellence Bioinformatics Life Sciences
- BNMC Innovation Center
- Prime Positioning: Minutes to Downtown Buffalo and walking distance to Elmwood Village
- Cultural Hub: Surrounded by notable restaurants, bars, and entertainment venues
The Giambra Team Advantage
The Giambra Team specializes in premium investment properties and can provide comprehensive guidance on maximizing your returns. Our expertise extends beyond the transaction to support your investment strategy, whether you choose to continue the profitable short-term rental operation or explore other options.
This is a rare opportunity to acquire a high-performing, fully renovated and furnished multi-unit investment in one of Buffalo's most coveted neighborhoods. Call today to schedule a private showing.
$650,000
Open house dates
