169 Merrimac St - Apartments FOR SALE


Buffalo, NY 14214- University
$6,000,000 USD
716-874-3530
169 Merrimac St, Buffalo, NY for Sale
$6,000,000 USD
Apartments - FOR SALE
1/14
null | 11.92% Cap Rate

169 Merrimac St
Buffalo, NY 14214
University


HIGHLIGHTS

  • HUGE CASH FLOWING ASSETS / 100% OCCUPIED / SINGLE LEASE PER BUILDING / 23 BUILDINGS
  • A+ WALKING SCORES TO CAMPUS / PUBLIC TRANPORTAION -SUBWAY - BUILDINGS BEING OFFERED AT BELOW MARKET VALUES
  • UTITLTIES / CABLE / LAUNDRY / APPLIANCES ARE PROVIDED

OVERVIEW

NOW BEING OFFERED, AN ACCEPTIONAL "VALUE ADD" MULTI BUILDING ASSET WITH TREMENDOUS CASH FLOW! 23 BUILDINGS, LOCATED IN THE UNIVERSITY HEIGHTS DISTRICT OF BUFFALO, N.Y. 169 MERRIMAC IS BEING SOLD WITH 22 OTHER PROPERTIES AS A PROFITABLE STUDENT HOUSING PACKAGE THAT IS WITHIN WALKING DISTANCE TO SUNY BUFFALO. ALL BUILDINGS ARE 100% LEASED. LEASES ARE ANNUAL LEASES, WITH 12 MONTH AGREEMENTS AND THERE IS ONE LEASE PER BUILDING. OWNER OF 30 YEARS LOOKING TO RETIRE! CONTINUOUS CAP EX. IS ONGOING. ALL LEASES TERMINATE IN MAY. CURRENT INPLACE CAP RATE IS APPROX. 13.0% ALL BUILDINGS STRATEGICALLY LOCATED NEAR EACH OTHER. OPTION TO TAKE OVER CURRENT STAFF 3077 MAIN ST. IS A MIXED USED BUILDING THAT SERVES AND AN OFFICE FOR MANAGMENT WITH 3 APARTMENTS. NDA REQUIRE BEFORE TOURS, PLEASE SEE SUPPLIMENTS ATTACHED SEE INVENTORY LIST - PRICED TO SELL!!!

FOR SALE DETAILS

PRICE

$6,000,000 USD

PRICE/SF

$2,276 USD /SF

# OF UNITS

42

PRICE/UNIT

$142,857

CAP RATE

11.92%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

BROS RE - UNIVERSITY HEIGHTS - UB MAIN ST.

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1912

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

-

APN/PARCEL ID

140200-079-460-0001-011-100

ASK ABOUT THIS PROPERTY

Michael BattagliaNetwork One RealtyMore Info
716-874-3530

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Michael BattagliaNetwork One RealtyMore Info
716-874-3530

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.