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An amazing investment opportunity in highly-desirable Allentown! 348 Virginia is TWO, 2-Family homes on a single parcel, in an unbeatable and convenient location-ideal for an investor or owner-occupant. Each structure offers both upper & lower units. The front house includes a spacious lower 3-bed, with updated vinyl flooring and currently rented to a tenant of 5+ yrs at $950/m. The bright & cozy upper 1-bed has fresh paint, updated windows, flooring, kitchen, new refrigerator & is ready for its new owner or great tenant. Both units in the rear house are 1-bed apts that are mirror images of each other. The upper is a tenant of 5+ yrs at $700/m. The rear lower also has fresh paint, new flooring, updated cabinetry, renovated bathroom, new refrigerator & ready for its next resident. Both homes feature maintenance free vinyl siding, newer roofs ('15), w updated electrical systems, plumbing upgrades, & newer HWTs—all delivers peace of mind for the property’s new owner. Coveted off-street parking, w dedicated spaces for each unit as well as green space between the homes. Past gross annual income of $42,000, commanding an attractive cap-rate, priced to sell and WELL BELOW assessed value! Positioned in historic Allentown, the property sits just steps from the area’s shopping, restaurants, nightlife and a short walk to Day’s Park, Klienhan’s Music Hall, the Medical Corridor, and downtown. Don’t miss the rare chance to own this multi-unit property in a prime and desirable location! Please allow 24-48hr notice to view rented spaces. Open house Saturday, April 26th 11am-1pm.
| DAYS ON MARKET | 3 | LAST UPDATED | 4/23/2025 |
|---|---|---|---|
| YEAR BUILT | 1870 | COMMUNITY | Buffalo City-140200 |
| COUNTY | Erie | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| School District | Buffalo |
|---|
| ADDITIONAL DETAILS | |
| APPLIANCES | Gas Water Heater |
|---|---|
| AREA | Buffalo City-140200 |
| BASEMENT | Full, Partial, Yes |
| CONSTRUCTION | Aluminum Siding, Copper Plumbing, PEX Plumbing, Vinyl Siding, Wood Siding |
| EXTERIOR | Fence, Fully Fenced |
| HEAT | Baseboard, Forced Air, Gas, Steam |
| INTERIOR | Ceiling Fan(s), Storage |
| LOT | 6456 sq ft |
| LOT DESCRIPTION | Near Public Transit, Pie Shaped Lot, Residential Lot |
| LOT DIMENSIONS | 57x102 |
| PARKING | Concrete,Parking Available,Two or More Spaces |
| SEWER | Connected |
| STORIES | 1 |
| STYLE | Fourplex |
| TAXES | 4743 |
| UTILITIES | Sewer Connected,Water Connected, Electric - Circuit Breakers |
| WATER | Connected,Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listing provided by: Luigi Rodo, Keller Williams Realty WNY
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