Listed by Cushman & Wakefield Pyramid Brokerage Company - Buffalo, New York, Cushman & Wakefield Pyramid Brokerage Company Syracuse
$6,150,000
Allentown 36-Unit Multifamily Portfolio
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 35,462
Net Rentable (SqFt) 35,462
Cap Rate 6.57%
NOI $403,947
Occupancy 100%
Tenancy Multi
Pro-Forma NOI $403,947
Class B
Year Built 1900
Year Renovated 2024
Buildings 3
Acreage 0.500
Investment Type Stabilized
Sale Condition N/A
Multifamily | $170,000/unit
Marketing description
As exclusive agent, Cushman & Wakefield | Pyramid Brokerage Company is pleased to offer a three-property multifamily portfolio in the City of Buffalo. The portfolio comprises 36 residential units across 273 Richmond Avenue, 159 College Street, and 26 Irving Place, all located in the Allentown Neighborhood. Each property was comprehensively renovated in 2024, offering modernized units while maintaining the character of the surrounding historic district. The portfolio presents a stabilized investment opportunity in a walkable, amenity-rich urban submarket with strong and consistent rental demand driven by proximity to Downtown Buffalo and the Buffalo Niagara Medical Campus.
Investment highlights
- All three properties were extensively renovated in 2024, offering a turnkey investment with no deferred maintenance and limited near-term capital needs.
- Fully leased portfolio provides immediate in-place income and demonstrates strong tenant demand.
- Walkable urban infill locations with access to dining, retail, entertainment, and neighborhood amenities in one of Buffalo's most desirable rental submarkets.
- Located near the Buffalo Niagara Medical Campus and Downtown Buffalo's central business district, supporting demand from healthcare, professional, and institutional tenants.
- Rare chance to acquire a stabilized, curated multifamily portfolio with operational efficiencies in a supply-constrained market.
- Strong in-place operations provide downside protection with potential for future rent growth and continued appreciation.
Listing Contacts
Listed by Cushman & Wakefield Pyramid Brokerage Company - Buffalo, New York, Cushman & Wakefield Pyramid Brokerage Company Syracuse
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$403,947.00
$33,662.25/mo
Valuation Metrics
0
DSCR
6.57%
Cap Rate
6.57%
ROI
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Zoning
N-2R ResidentialMulti FamilyResidential Neighborhood Zone
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View all 138 uses Last updated May 7, 2026 For deeper zoning details, reports are available at Zoneomics
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