Buffalo, NY 14201 58 Park Street

Pending
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Presented By: Nicholas Giambra with Iconic Real Estate;
  • MLS# B1604305
  • 05/05/2025
  • Request Tour
  • Request Info
  • Beds • 6
  • Baths • 4
  • SQFT • 4,799

Home Details

EXCEPTIONAL TURNKEY SHORT-TERM RENTAL INVESTMENT IN HISTORIC ALLENTOWN! House hacking to an extreme level with an owner occupied conventional or FHA loan. Fully renovated & furnished 4-unit property with PROVEN INCOME HISTORY: $97,722 (2022), $94,597 (2023), $100,029 (2024). Strong 8.73% cap rate with $56,775 NOI after ALL expenses. Perfect for investors seeking immediate cash flow in one of Buffalo's most desirable neighborhoods.cComprehensive renovation 7 years ago (city-approved) with ALL NEW systems: plumbing, electrical, HVAC, roof. Building features 2 two-bed/one-bath units and 2 one-bed/one-bath units, each with separate electric/gas, forced air heating, central AC, and 40-gallon hot water tanks. 4,799 sq ft brick building on 0.1-acre lot with valuable off-street parking for 5 vehicles. Prime Allentown location just blocks from Buffalo Niagara Medical Corridor (Roswell Park, Buffalo General, Oishei Children's Hospital, UB Medical School), minutes to downtown, and walking distance to Elmwood Village. Extremely walkable neighborhood surrounded by notable restaurants, bars, and cultural attractions. Potential gross income of $94,200 annually at market rates. Expenses include 5% vacancy/collection loss, 10% property management, and 5% maintenance/repairs. All units currently furnished and ready for continued rental operation. Don't miss this rare opportunity to acquire a high-performing investment property in one of Buffalo's most coveted neighborhoods. SHOWINGS START WEDNESDAY, MAY 7TH. OPEN HOUSE SATURDAY, MAY 10TH FROM 1:00-3:00PM.
Presented By: Nicholas Giambra with Iconic Real Estate;

Interior Features for 58 Park Street

Bedrooms

Total Bedrooms6

Bathrooms

Half Baths0
Main Level Bathrooms
Total Baths4

Other Interior Features

Air Conditioning Y/NYes
BasementFull
Basement (Y/N)Yes
Fireplace Y/NNo
FlooringCarpet, CeramicTile, Hardwood, LuxuryVinyl, Varies
Heating Y/NYes
Laundry FeaturesCommonArea
Total Fireplaces
Total Stories2

General for 58 Park Street

AppliancesGasWaterHeater
Architectural StyleFourplex
CityBuffalo
Construction MaterialsBrick, Other, CopperPlumbing, PexPlumbing
CoolingCentralAir
CountyErie
DirectionsOn Park Street between Virginia and Allen.
ElectricCircuitBreakers
Elementary School DistrictBuffalo
Full Baths4
Garage Spaces0.0
HeatingGas, ForcedAir
High School DistrictBuffalo
LevelsTwo
Lot Size Square Feet4356.0
Lot Size UnitsAcres
MLS AreaBuffalo City-140200
Middle/Junior School DistrictBuffalo
Number Of Units Total4
OwnerPaysTrashCollection, Water
Patio/Porch FeaturesBalcony
PossessionCloseOfEscrow
Property ConditionResale
Property SubtypeMultiFamily
Property TypeResidential
Rent IncludesTrashCollection, Water
RoofAsphalt
School DistrictBuffalo
Senior Community Y/NNo
SewerConnected
Standard StatusPending
StatusPending
Stories2
Tax Annual Amount13193.0
Tax Assessed Value495000
Tax Lot13
TaxOtherAnnualAssessmentAmount0.0
TownshipNot Applicable
UtilitiesElectricityConnected, HighSpeedInternetAvailable, SewerConnected, WaterConnected
Year Built1900
Year Built DetailsExisting

Exterior for 58 Park Street

Building Area Total4799.0
Exterior AmenitiesBalcony
Foundation DetailsStone
Lot Dimensions38X120
Lot FeaturesNearPublicTransit, Rectangular, RectangularLot, ResidentialLot
Lot Size Acres0.1
Lot Size Area0.1
Number of Separate Electric Meters5
Number of Separate Gas Meters4
Parking FeaturesConcrete, ParkingAvailable, TwoOrMoreSpaces
Road Frontage TypeCityStreet
Water SourceConnected, Public
Waterfront Y/NNo

Additional Details

Price History

Mark Siwiec

CEO
Price $650,000
MLS#B1604305
List Date 05/05/2025
Property Type Pending
Phone
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