704 8th St - Apartments FOR SALE


Niagara Falls, NY 14301
$5,000,000 USD
716-275-4687
704 8th St, Niagara Falls, NY for Sale
$5,000,000 USD
Apartments - FOR SALE
1/15
null | 7.99% Cap Rate

704 8th St
Niagara Falls, NY 14301


OVERVIEW

Fully renovated in 2023, The Eleanor is a turnkey 27-unit luxury apartment building located on Pine Avenue, just steps from Niagara Falls. The property features a strong unit mix of 13 two-bedroom units, 13 one-bedroom units, and 1 studio, along with 4 storage units and 19 designated parking spaces. Situated in a federally designated Opportunity Zone, the asset benefits from county tax reductions and offers long-term tax advantages for investors. Premium amenities include a fitness center, laundry room, elevator, keyless entry, security system, sprinkler system, two entrances, and stainless steel appliances throughout. With full occupancy, modern finishes, and a prime location in a high-tourism corridor, The Eleanor delivers strong in-place cash flow with long-term appreciation potential. The Eleanor offers modern, luxury finishes designed to attract and retain high quality tenants. Units are smoke-free and feature in-unit washer/dryers, air conditioning and heating, hardwood and vinyl flooring, large bedrooms, and linen closets. Select units are wheelchair accessible, and the building is equipped with a full sprinkler system and security system throughout. Kitchens are thoughtfully designed with granite countertops, stainless steel appliances, eat-in layouts, and include microwaves, ranges, refrigerators, freezers, and instant hot water systems—supporting both tenant satisfaction and long-term durability. These features, combined with on-site amenities and full renovation in 2023, position The Eleanor as a top-tier multifamily asset in the Niagara Falls market.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$209 USD /SF

# OF UNITS

27

PRICE/UNIT

$185,185

CAP RATE

7.99%

% LEASED

89%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Eleanor Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1925

PARKING SPACES

19

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

C2-A

APN/PARCEL ID

291100-144-078-0002-051-000

ASK ABOUT THIS PROPERTY

Rabia EllahiRed Hawk RealtyMore Info
716-275-4687

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Rabia EllahiRed Hawk RealtyMore Info
716-275-4687

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