61 S Fisher Rd - Apartments FOR SALE


Buffalo, NY 14218
$7,450,000 USD
716-874-3530
61 S Fisher Rd, Buffalo, NY for Sale
$7,450,000 USD
Apartments - FOR SALE
1/4
null | 7.26% Cap Rate

61 S Fisher Rd
Buffalo, NY 14218


HIGHLIGHTS

  • VERY WELL MAINTAINED, SELF MANAGED BY OWNER
  • STRONG OCCUPANCY, EXCELLANT RENTAL LOCATION, STRONG TENANT PIPLINE
  • CLOSE TO MAIN ROADWAYS, SHOPPING CENTERS, SCHOOLS, PARKS AND BUFFALO CBD, AS WELL AS THE BUFFALO INTL. AIRPORT AND THE CANADIAN BORDER
  • CURRENT OWNERSHIP CONINUTES WITH ROUTINE MAINTENANCE AND CAP EX. / UNITS SHOW VERY WELL.
  • THE CURRENT RENT DELTA AS COMPARED TO PROPOSED MARKET RENTS IS AT 87%
  • METERED AND SUB-METERED UNITS / ALL 2 BED ROOM UNITS / THERE IS PLENTY OF OFF-STREET SURFACE PARKING

OVERVIEW

NOW OFFERING ARBOR MEADOWS AND SUMMERSHADE APARTMENTS. 78 UNITS, ALL 2 BEDROOMS with FULL BATHS TWO COMPLEXES SOLD TOGETHER, NO SEPERATION PER OWNER -PACKAGE SALE 48 UNIT COMPLEX ACROSS FROM 30 UNIT COMPLEX WELL MANAGED, AND WELL CARED FOR / 98% OCCUPIED, LONG TERM TENANCY RENT EXCALATION OPPORTUNITY WITH LEASE TRADEOUTS. RENTS CURRENTLY BELOW MARKET. STORAGE AND LAUNDRY ON SITE, LAUNDRY MACHINES CONVEYS SEE ATTACHMENTS FOR DETAILS ON INCOME AND EXPENSES PLEASE.

FOR SALE DETAILS

PRICE

$7,450,000 USD

PRICE/SF

$582 USD /SF

# OF UNITS

78

PRICE/UNIT

$95,513

CAP RATE

7.26%

% LEASED

98%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Arbor Meadows & Summershade Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.7 AC

LAND SF

161,172 SF

ZONING

04

APN/PARCEL ID

146800-142-200-0006-004-000

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.