174 Mariner Street
Rare opportunity to own a historic Allentown multi-family property with stable income and long-term
Marketing description
174 Mariner Street presents a rare opportunity to acquire a well-maintained three-unit investment property in the heart of Buffalo's historic Allentown neighborhood. Generating $54,900 in annual rental income, the property offers a strong combination of cash flow, tenant stability, and long-term value. Two leases have been extended through 2027, while the third unit provides flexibility for an owner-occupant or future rental growth.
The property has benefited from numerous improvements, including roof, exterior, electrical, plumbing, and mechanical updates, while preserving the architectural character that makes it one of Allentown's most distinctive residences. Once home to Katherine Cornell, the "First Lady of American Theater," the property features original details including ornate fireplaces, inlay hardwood floors, clawfoot tubs, and historic craftsmanship throughout.
Ideally located just steps from Allentown's restaurants, boutiques, nightlife, the Buffalo Medical Campus, and downtown Buffalo, this is an exceptional opportunity to own an income-producing property with both historic significance and investment appeal.
Investment highlights
-Three-unit multifamily property in Buffalo's highly desirable Allentown neighborhood
-Current rental income of $4,575/month ($54,900 annually)
-Tenants responsible for utilities
-Two leases secured through 2027, providing stable income
-One unit offers flexibility for owner-occupancy or future rent growth
-Numerous capital improvements, including roof, exterior, electrical, plumbing, and mechanical updates
-Located near downtown Buffalo, the Medical Campus, restaurants, nightlife, and major employment centers
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