55 Washington St - Apartments FOR SALE


Lockport, NY 14094
$1,175,000 USD
716-874-3530
55 Washington St, Lockport, NY for Sale
$1,175,000 USD
Apartments - FOR SALE
1/22
null | 7% Cap Rate

55 Washington St
Lockport, NY 14094


HIGHLIGHTS

  • ALL SEP. UTITLTIES / ALL 2 BEDROOMS, SINGLE BATH / MODERN FINISHES
  • STRONG RENTAL AREA/ CONSISTANT OCCUPANCY/ CLOSE TO CBD OF LOCKPORT / CLOSE TO PUBLIC TRANSPORTATION
  • APPLIANCES INCLUDED / FULL BATHS WITH TUB AND SHOWER / PLENTY OF OFF STREET PARKING
  • POTENTAIL FOR A 12TH UNIT ON GROUND LEVEL, PLUS ADDITIOANLAND F OR FUTURE DEVELOMENT OPPORTUNITY

OVERVIEW

EXCEPTIONAL "VALUE ADD" MULTIFAMILY INVESTMENT WITH THE POTENTIAL FOR A DEVELOPMENT COMPONENT FOR THE AMBITIOUS INVESTOR. THE "LOCKPORT VIEWS" APARTMENTS ARE OFFERS A STABIIZED 11 UNIT APARTMENT COMPLEX COMPRISED OF 3 BUILDINGS, A STORAGE SHED AND AMPLE ADDITIONAL ACRERAGE, FOR FUTUTE DEVELOPMENT OF UP TO 22 RESIDNTIAL UNITS. TENANTS PAY FOR HEAT AND ELECTRIC, PLENTY F OFF STREET PARKING, CLOSE TO THE CITY OF LOCKPORT AND PUBLIC TRANSPORTATION. OWNERSHIP HAS COMPLETED SUBSTANTIAL CAP EX. AND THERE IS OPPORTUNITY FOR A 12TH APARTMENT UNIT UTILIZING EXISTING SPACE ON THE GROUND LEVEL. PLEASE SEE SUPPLIMENTS FOR INCOME AND EXPENSES AND HIGHLIGHTS.

FOR SALE DETAILS

PRICE

$1,175,000 USD

PRICE/SF

$144 USD /SF

# OF UNITS

11

PRICE/UNIT

$106,818

CAP RATE

7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1940

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,340 SF

ZONING

R3

APN/PARCEL ID

290900-109-010-0001-013-001

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.