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340 Elmwood 11 Unit Apartment Building $881,609 CAD ($80,146 CAD/Unit) 7.68% Cap Rate Buffalo, NY 14222
INVESTMENT HIGHLIGHTS
- STRONG RENTAL MARKET LOCATION - ELMWOOD VILLAGE AREA - ALLENTOWN LOCAL - BUFFALO CBD
- WELL MAINTAINED, ALL UTILITIES INCLUDED
- PUBLIC TRANSPORTATION, MEDICAL COORIDOR NEARBY
EXECUTIVE SUMMARY
340 Elmwood Ave. is a versatile 1900’s Victorian mansion situated on a visible and easily accessible Elmwood Village thoroughfare! The asset enjoys strong occupancy and is comprised of both apartments and a rooming house setup, (which is fully licensed). This product type fills a demanding housing option for many home seekers with limited budgets and need requirements. The property offers some off-street parking, common laundry facilities. All utilities included!
340 Elmwood is in very close in proximity to downtown Buffalo, N.Y., the Canadian border and all major thruway arteries in and out of the city of buffalo and surrounding suburb locations.
This is an excellent opportunity to utilize the property in the same format, or potentially setup as owner occupied use, or Bed and Breakfast services and/or or AIRBNB services.
The property is always rents, both leases and month to month tenancy. Updated mechanicals and roof.
The apartments come with appliances and the rooms have common and modern bathroom facilities profession monitored and cleaned weekly!
340 Elmwood has direct access to public transportation and is close to the medical coordinator and Buffalo CBD.
340 Elmwood is in very close in proximity to downtown Buffalo, N.Y., the Canadian border and all major thruway arteries in and out of the city of buffalo and surrounding suburb locations.
This is an excellent opportunity to utilize the property in the same format, or potentially setup as owner occupied use, or Bed and Breakfast services and/or or AIRBNB services.
The property is always rents, both leases and month to month tenancy. Updated mechanicals and roof.
The apartments come with appliances and the rooms have common and modern bathroom facilities profession monitored and cleaned weekly!
340 Elmwood has direct access to public transportation and is close to the medical coordinator and Buffalo CBD.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $881,609 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $80,146 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 7.68% | Building Size | 4,799 SF |
| Gross Rent Multiplier | 8.6 | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1880/2000 |
| Property Subtype | Apartment | Parking Ratio | 1.25/1,000 SF |
| Zoning | HOTEL-MULTIFAM - CURRENT ZOING COMES UNDER MULTIFAMILY - WITH LICENSED ROOMING HOUSE STATUS | ||
| Price | $881,609 CAD |
| Price Per Unit | $80,146 CAD |
| Sale Type | Investment |
| Cap Rate | 7.68% |
| Gross Rent Multiplier | 8.6 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,799 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1880/2000 |
| Parking Ratio | 1.25/1,000 SF |
| Zoning | HOTEL-MULTIFAM - CURRENT ZOING COMES UNDER MULTIFAMILY - WITH LICENSED ROOMING HOUSE STATUS |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Heating
- Kitchen
- Hardwood Floors
- Basement
SITE AMENITIES
- Laundry Facilities
- Maid Service
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | $857.64 CAD | 350 |
| 1+1 | 1 | $1,168 CAD | 800 |
1 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Biker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 140200-100-610-0004-004-000 | Total Assessment | $458,286 CAD (2024) |
| Land Assessment | $95,887 CAD (2024) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $362,398 CAD (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
140200-100-610-0004-004-000
Land Assessment
$95,887 CAD (2024)
Improvements Assessment
$362,398 CAD (2024)
Total Assessment
$458,286 CAD (2024)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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340 Elmwood
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