Excellent opportunity to acquire a 13-unit cash-flowing portfolio of three multi-family properties spanning 13,511 square feet along Virginia Street in Buffalo’s highly desirable West Side/Allentown corridor. This portfolio includes 308 Virginia St, 318 Virginia St, and 348 Virginia St. All properties feature stable tenancy, strong rental history, and consistent occupancy, making this an ideal addition for investors seeking reliable income in a high-demand rental market. Gross Rent=$11,875 per month, $142,500 annual gross. NOI = $102,532/YR, 8.20% ASKING CAP RATE. A variety of units – Three 3-bedroom, Two 2-bedroom, and Seven 1-bedroom units, offering flexibility in rental offerings to new tenants.
The properties offer well-maintained units, solid mechanicals, providing a turnkey operation with limited immediate maintenance needs. Tenants pay for their own electric and 7 of 13 pay for their own heat (6 are paid by landlord). Capital improvements recently addressed roof, boiler, vinyl replacement windows, new gutters/downspouts, several new HWT across the portfolio, New Plumbing, Fire Prevention, New Laundry Units, and New Electrical Services. Additionally, significant cap ex renovations in several units across the buildings -painting kitchen remodels, baths, plumbing, flooring. The 3 main properties all have stone basements.
Virginia Street is centrally located near the Douville College, steps from Allentown and the Elmwood Village, Medical Campus, public transportation, and numerous neighborhood amenities, supporting long-term rental demand and strong performance.
This portfolio presents a rare chance to secure multiple turnkey income-producing assets in one of Buffalo’s most sought-after urban neighborhoods. A solid choice for investors looking for stability, steady cash flow, and long-term appreciation potential.
