High-Yield Downtown Multi-Family Play: 1950 Quadplex

Offering an extraordinary entry point into Chautauqua County’s multi-family investment market, this substantial 2,702-square-foot multi-family property at 110 E 6th St represents a high-upside value-add asset in Jamestown, New York.

Listed by: Real Estate Advantage 716-484-2020, Wayne Weaver 716-664-1339

Listed at a competitive purchase price of $119,000—equating to an astounding ~$44 per square foot and just $29,750 per residential unit—this 1950-built four-unit apartment building is strategically positioned in a walkable downtown residential corridor.

Featuring a uniform layout of four independent 1-bedroom, 1-bathroom apartments, the property provides a high-efficiency cash-flow model. Crucially, the building features separately metered utilities for all four units (4 gas meters and 4 electric meters), drastically reducing owner-paid operating expenses and maximizing net operating income (NOI) upon full lease-up and stabilization.

The residence presents a solid multi-family footprint along East 6th Street, positioned on a manageable urban parcel complete with essential off-street parking spaces for tenants. Inside, the 2,702-square-foot interior is efficiently partitioned across two floors, providing a clear-span structure ready for targeted cosmetic overhauls and kitchen/bath modernization.

🏛️ Quadplex Layout & Utility Infrastructure

The property’s mid-century multi-family geometry is designed for low-overhead management and high tenant density:

Four Identical 1-Bed / 1-Bath Units: Each apartment offers a functional, easy-to-rent layout comprising a private living parlor, a full kitchen workspace, a dedicated bedroom chamber, and an en-suite full bathroom.

Immediate Cash Flow & Value-Add Transition: One unit is currently occupied by a paying tenant, delivering immediate gross rental income on day one to help offset carrying costs while you renovate and stabilize the three vacant units.

Separately Metered Utility Grid: Outfitted natively with 4 individual electric meters and 4 individual gas meters, allowing tenants to pay their own heating and electrical usage directly, insulating the landlord from seasonal utility spikes.

Off-Street Parking: Includes dedicated off-street parking bays, a crucial competitive advantage for attracting and retaining quality tenants in a downtown municipal grid.

💼 Investment Strategy & Value-Add Playbook

💰 Stabilization & Capitalization Framework: Acquiring a 4-unit residential building for $119,000 provides an unmatched margin of safety for value-add real estate investors.

Low Entry Basis: At $29,750 per door, the acquisition cost leaves substantial capital reserves for targeted cosmetic upgrades (flooring, paint, modern light fixtures, updated kitchen cabinetry, and low-flow bath fixtures).

High Cap Rate Potential: Fully stabilized 1-bedroom apartments in downtown Jamestown command strong regional market rents. Executing a light rehab across the three vacant units can quickly yield gross annual rents exceeding $30,000–$36,000, delivering double-digit cash-on-cash returns.

Low-Expense Management: With separate gas and electric meters already in place, owner expenses are primarily limited to property taxes, building insurance, water/sewer, and routine maintenance.

📋 Property Specifications

💰 Price: $119,000 (An incredible ~$44/sqft / $29,750 per unit acquisition baseline)

📍 Address: 110 E 6th St, Jamestown, NY 14701 (Chautauqua County Corridor)

📜 Property Type: Standalone Four-Unit Multi-Family Residential Apartment Building

📐 Interior Size: 2,702 finished above-grade sqft

🛏️ Unit Mix: 4 Units Total (All 1-Bedroom / 1-Bathroom Configurations)

🛁 Bathrooms: 4 Full Bathrooms (1 per unit)

🏗️ Year Built: 1950 (Mid-Century Purpose-Built / Solid Construction)

⚡ Utilities: Separately Metered (4 Electric Meters, 4 Gas Meters)

🚗 Parking: Off-Street Tenant Parking Lot Included

📈 Occupancy: 1 Unit Currently Rented / 3 Units Vacant for Immediate Value-Add Upgrades

🔍 Key Features & Preservation Value Points Explained

🏛️ Mind-Blowing Financial Runway at ~$29.7k Per Door: Acquiring a four-unit residential income property for under $120,000 is an extraordinary multi-family real estate anomaly. The ultra-low purchase price minimizes debt service requirements and provides immense equity upside post-stabilization.

⚡ Separately Metered Gas & Electric: Retrofitting separate meters into an older multi-family building can cost upwards of $10,000–$15,000. Having individual utility infrastructure already installed significantly enhances net operating income and simplifies property management.

📍 Strategic Downtown Jamestown Location: Located on East 6th Street, tenants enjoy immediate walkable access to Jamestown’s downtown commercial core—including the National Comedy Center, Northwest Arena, local breweries, diners, banks, and public transit hubs. Enjoy rapid driving access to I-86 and Route 60 for direct commutes to Chautauqua Lake, Fredonia, or Erie, PA regional employment centers.