566 Colvin Ave, Buffalo, NY 14216

157 Unit Apartment Building | $15,500,000 ($98,726/Unit) | 6.29% Cap Rate | Buffalo, NY 14216

Asking Price $15,500,000

Property Type: Multifamily
Square Feet: 157,692 SF

Listing Contacts

Michael Battaglia

Verified Profile

Property Info

Property Overview

GREAT WNY MULTIFAMILY ASSET OFFERING! THE BUFFALO-NIAGARA PORTFOLIO IS COMPRISED OF 6 SEPERATE COMMUNITES, (ALL WITHIN 3-20 MINUTES OF EACH OTHER) WITH 15 BUILDINGS, ALL LOCATED IN ERIE & NIAGARA COUNTIES. THE PROPERTIES ARE SELF MANAGED BY CURRENT OWNER. THE MAKEUP OF THE UNITS ARE 1- AND 2-BEDROOM GARDEN STYLES, WITH SINGLE FULL BATHS. THERE IS A COMBINATION OF BOTH COMMON AND SUB-METERED UTITLTIES.
CURRENT OWNERSHIP WILL BE LOOKING TO COMPLETE A 1031 EXCHANGE. THE PROPERTIES WILL BE SOLD AS ONE ENTITY AND CANNOT BE SOLD SEPERATELY.
APPLIANCES, OFF STREET PARKING, GARAGES, LAUNDRY AND STORAGE ARE OFFERED. SEVERAL PROPERTIES ARE “PET FREINDLY!
TENANCY IS MARKET RATE WITH A SMALL PERCENTAGE OF RENTAL ASSISTANCE TENANTS. ANNUAL LEASES
ALL LOCATIONS ARE IN STRONG RESIDENTIAL COMMUNITIES, C+ TO B+ CLASS UNITS. EASY ACCESS TO BUSINESS DISTRICTS, SCHOOLS, PARKS AND RECREATION AREAS ALONG WITH RETAIL HUBS, AND MAJOR ROADWAYS WITH PUBLIC TRANSPORTATION.
CURRENT RENTS RE APPROX. 92% OF PROJECTED TARGETED MARKET RENTS.
NO PRIVATE FINANCING AVAILABLE.
NO UNACCOMPANIED VISITS PLEASE

Property Details

Class: C
Year Built/Renovated: 1950/2000
Stories: 2
Lot Size (sq. ft): 208,652 SF
Units: 157

Highlights

6 SUBURBAN LOCATIONS, STRONG TENANCY, STRONG OCCUPANCY
BOTH SUBMETERED AND SEPERATE UTILTITIES, KITCHEN APPLIANCES INCLUDED, BATHS WITH TUB & SHOWERS
OFF STREET PARKING, STORAGE AND ONSITE LAUNDRY FACILITIES
ALL COMMUNITIES CLOSE TO SHOPPING, SCHOOLS, PUBLIC TRANSPORTAION AND MAJOR ROADWAYS
LOCATIONS ARE IN ERIE AND NIAGARA COUNTIES
PORTFOLIO SALE, NO SEPERATION OF PROPERTIES

Nearby Properties

$2,500,000

Owner-User (Manufacturing) - Vale, NC

82,876 SF | Industrial Building | Vale, NC 28168 | $2,500,000 ($30/SF)

7514 Nc Hwy
Vale, NC 28168

View Details
$1,150,000

5,484 SF | 100% Leased | Industrial Building | North Charleston, SC 29406 | $1,150,000 ($210/SF) | 1% Cap Rate

5639 Pullman Ave
North Charleston, SC 29406

View Details
40,000 SF | Industrial Building | Dahlonega, GA 30533 | For Sale

00 Lumpkin County Pkwy
Dahlonega, GA 30533

View Details
University Crossing Office Building

6,926 SF Office Condo Unit in Dayton, OH 45417

1435 Cincinnati St
Dayton, OH 45417

View Details
Dallas MSA

2.8 Acres of Commercial Land in Dallas, TX 75243

9200 Markville Dr
Dallas, TX 75243

View Details
$1,825,000

Entenmann's Bakery Outlet

8,160 SF | Retail Building | Lakeland, FL 33801 | $1,825,000 ($224/SF)

3354 Us Highway 92
Lakeland, FL 33801

View Details
$422,093

0.57 Acres of Commercial Land Offered at $422,093 USD in Broken Arrow, OK 74012

850 Msn Ave
Broken Arrow, OK 74012

View Details

Similar Properties

$15,500,000

Sterling Bazaar

87,359 SF | 91% Leased | Retail Building | Peoria, IL 61604 | $15,500,000 ($177/SF) | 6.24% Cap Rate

3311-3316 Sterling Ave
Peoria, IL 61604

View Details
$15,500,000

11,875 SF | 100% Leased | Retail Building | Charleston, SC 29401 | $15,500,000 ($1,305/SF)

32 Market St
Charleston, SC 29401

View Details
$15,500,000

245,000 SF | 4-Star Industrial Building | Smithville, TN 37166 | $15,500,000 ($63/SF) | 6.38% Cap Rate

400 Moog Industrial Blvd
Smithville, TN 37166

View Details
$15,500,000

Harvest Flats

48 Unit Apartment Building | $15,500,000 ($322,917/Unit) | 5.20% Cap Rate | Kalispell, MT 59901

Nhn Stillwater Rd
Kalispell, MT 59901

View Details
$15,500,000

Boca Raton Corporate Center

60,050 SF | 58% Leased | Office Building | Boca Raton, FL 33487 | $15,500,000 ($258/SF) | 7.83% Cap Rate

1095 Broken Sound Pkwy
Boca Raton, FL 33487

View Details
$15,500,000

89-91 Ludlow St, New York, NY 10002

6,000 SF | 100% Leased | Retail Building | New York, NY 10002 | $15,500,000 ($2,583/SF)

89 Ludlow St
New York, NY 10002

View Details
$15,500,000

163.33 +/- Acres Westside Paso Robles

163.33 Acres of Commercial Land Offered at $15,500,000 USD in Paso Robles, CA 93446

2137 Live Oak Rd
Paso Robles, CA 93446

View Details

FAQ

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?: Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?: Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker: We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?: Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
How do I unsubscribe from emails?: At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].