Buffalo, NY 14204 255 High Street

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Presented By: Nicholas Giambra with Iconic Real Estate;
  • MLS# B1604273
  • 05/05/2025
  • Request Tour
  • Request Info
  • Beds • 5
  • Full/Half Baths • 2 / 2
  • SQFT • 3,540

Home Details

EXCEPTIONAL INVESTMENT OPPORTUNITY! SHOWINGS START WED, MAY 7TH! Income-producing property in one of Buffalo's fastest-appreciating neighborhoods. This multi-family property features both front & rear houses, offering multiple income streams w/ tremendous upside potential. 2 separate buildings on one 25.63' x 116' lot. Front building has retail/commercial space on lower level plus 3BR/1BA apartment above. Rear building is a standalone 2BR/1BA house with first-floor laundry. Recently updated w/ brand new tear-off roof on front house (2024), 2025 electrical service in front house w/ circuit breakers, & 2025 forced air HVAC in upper apartment & rear house. Lower unit can function as retail space or be converted to apartment. Rear house is rent-ready immediately! Property has 3 electric meters & space for 3 gas meters. INCREDIBLE FINANCIALS: Potential gross income of $46,200.00 annually w/ exceptionally low taxes of only $553.82 total annually, w/ projected NOI of $33,213.00 after ALL expenses (yes, even vacancy & collection loss, property management, & repairs & maintenance). Once finished, the value based on a 10% "cap rate": $332,130.00 (nearly DOUBLE the asking price!) THRIVING LOCATION: Blocks from Buffalo Niagara Medical Corridor including Roswell Park, Buffalo General, Kaleida Health, Oishei Children's Hospital, & UB's Jacobs School of Medicine. Near Center of Excellence Bioinformatics and BNMC Innovation Center. Less than 10 blocks to downtown Buffalo. Walking distance amenities include Tim Hortons, Original Anchor Bar (birthplace of Buffalo Wings), Buffalo Tikka House, Penny's Coffee, Coco's, & just blocks from vibrant Allentown district. This property offers an exceptional opportunity to capitalize on Buffalo's growing rental market. With the rear house already rent-ready and potential to maximize income from the front building, this investment offers immediate cash flow with significant upside potential. The incredibly low property taxes and proximity to major medical employers, educational institutions, & downtown make this an unbeatable investment at $160k. SF marketed is different than what exist in the public records, home was professionally measured.
Presented By: Nicholas Giambra with Iconic Real Estate;

Interior Features for 255 High Street

Bedrooms

Total Bedrooms5

Bathrooms

Half Baths2
Main Level Bathrooms
Total Baths4

Other Interior Features

BasementFull, Partial, SumpPump
Basement (Y/N)Yes
Fireplace Y/NNo
FlooringCarpet, Laminate, Tile, Varies, Vinyl
Heating Y/NYes
Interior AmenitiesCeilingFans, NaturalWoodwork
Laundry FeaturesCommonArea, WasherHookup
Total Fireplaces
Total Stories2

General for 255 High Street

AppliancesGasWaterHeater
Architectural StyleTriplex
Business TypeMixed
CityBuffalo
Construction MaterialsBrick, CompositeSiding, Other, VinylSiding, CopperPlumbing, PexPlumbing
CountyErie
DirectionsOn High Street between Locust and Lemon.
ElectricCircuitBreakers
Elementary School DistrictBuffalo
Full Baths2
Garage Spaces0.0
Gross Income42000.0
HeatingGas, ForcedAir
High School DistrictBuffalo
LevelsTwo
Lot Size Square Feet3050.0
Lot Size UnitsAcres
MLS AreaBuffalo City-140200
Middle/Junior School DistrictBuffalo
Net Operating Income29268.0
Number Of Units Total3
Operating Expense12178.0
PossessionCloseOfEscrow
Property ConditionResale
Property SubtypeMixedUse
Property TypeResidential
RoofAsphalt
School DistrictBuffalo
Senior Community Y/NNo
SewerConnected
Standard StatusActive
StatusActive
Stories2
Subdivision NameHolland Land Company's Su
Tax Annual Amount554.0
Tax Assessed Value66000
Tax Lot3
TaxOtherAnnualAssessmentAmount0.0
Tenant PaysAllUtilities
TownshipNot Applicable
UtilitiesElectricityConnected, HighSpeedInternetAvailable, SewerConnected, WaterConnected
Waterfront Y/NNo
Year Built1910
Year Built DetailsExisting

Exterior for 255 High Street

Building Area Total3540.0
Exterior AmenitiesFence
FencingPartial
Foundation DetailsStone
Lot Dimensions25X116
Lot FeaturesNearPublicTransit, Rectangular, RectangularLot, ResidentialLot
Lot Size Acres0.07
Lot Size Area0.07
Number of Separate Electric Meters3
Number of Separate Gas Meters3
Parking FeaturesNoDriveway
Road Frontage TypeCityStreet
Water SourceConnected, Public

Additional Details

Price History

Mark Siwiec

CEO
Price $110,000
MLS#B1604273
List Date 05/05/2025
Property Type Single Family
Phone
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