Property Description
Also listed for sale under: B1627464. Welcome to 597–605 Elmwood Avenue, a truly iconic 49-unit apartment building in the heart of Elmwood Village, ready for its next chapter in the right hands of a seasoned and visionary investor.
This is not a project for just anyone. This is a once-in-a-generation opportunity to acquire and redevelop a landmark property on one of the city’s most vibrant and walkable corridors. Positioned at the corner of Elmwood and Lexington, this expansive three-story brick building offers approximately 37,886 square feet of historic architecture and unmatched potential. The layout includes 32 one-bedroom apartments, 15 studios, 1 two-bedroom unit, and a ground-floor commercial space.
The property has been vacant and condemned by the City of Buffalo for the past two years after its prior owner let it fall to disrepair, it’s now Bank Owned. It will require a full rehabilitation of every unit, including structural, mechanical, electrical, and interior renovations. Some units must be completely gutted, while still showcasing original features such as decorative fireplaces, hardwood flooring, and detailed woodwork. Major building systems including the roof, boiler, fire escapes, windows, and electrical panels are likely due for full modernization.
For the right investor, the opportunity is clear. This is a chance to transform a distressed property into a premier multifamily asset in a neighborhood where buildings of this scale rarely become available. With strong rental demand, premium leasing potential, and likely strong long-term appreciation, Elmwood Heights offers substantial upside for someone wanting to make their mark and solidify their place in History in the City of Buffalo.
Proof of funds and a signed hold harmless agreement are required before any showings.
