340 Elmwood
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
340 Elmwood
11 Unit Apartment Building $1,007,189 CAD ($91,563 CAD/Unit) 6.60% Cap Rate Buffalo, NY 14222
Investment Highlights
- STRONG RENTAL MARKET LOCATION - ELMWOOD VILLAGE AREA - ALLENTOWN LOCAL
- 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 |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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 | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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 | $1,007,189 CAD | Apartment Style | Low Rise |
| Price Per Unit | $91,563 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 6.60% | Building Size | 4,799 SF |
| Sale Conditions | Lease Option | Average Occupancy | 85% |
| Gross Rent Multiplier | 8.6 | No. Stories | 3 |
| No. Units | 11 | Year Built/Renovated | 1880/2000 |
| Property Type | Multifamily | Parking Ratio | 1.25/1,000 SF |
| Property Subtype | Apartment |
| Price | $1,007,189 CAD |
| Price Per Unit | $91,563 CAD |
| Sale Type | Investment |
| Cap Rate | 6.60% |
| Sale Conditions | Lease Option |
| 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 | 85% |
| No. Stories | 3 |
| Year Built/Renovated | 1880/2000 |
| Parking Ratio | 1.25/1,000 SF |
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 | 1 | $857.34 CAD | 350 |
| 1+1 | 2 | $1,081 CAD | 450 |
1 of 1
Walk Score ®
Walker's Paradise (91)
Bike Score ®
Biker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 140200-100-610-0004-004-000 | Total Assessment | $466,463 CAD (2023) |
| Land Assessment | $97,598 CAD (2023) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $368,864 CAD (2023) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
140200-100-610-0004-004-000
Land Assessment
$97,598 CAD (2023)
Improvements Assessment
$368,864 CAD (2023)
Total Assessment
$466,463 CAD (2023)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
zoning
| Zoning Code | HOTEL-MULTIFAM (CURRENT ZOING COMES UNDER MULTIFAMILY - WITH LICENSED HOTEL OCCUPANCY STATUS) |
| HOTEL-MULTIFAM (CURRENT ZOING COMES UNDER MULTIFAMILY - WITH LICENSED HOTEL OCCUPANCY STATUS) |
1 of 23
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
340 Elmwood
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.