8479-8481 East Ave - Apartments FOR SALE


Gasport, NY 14067
$897,000 USD
716-884-4437
8479-8481 East Ave, Gasport, NY for Sale
$897,000 USD
Apartments - FOR SALE
1/18
null | 5.94% Cap Rate

8479-8481 East Ave
Gasport, NY 14067


HIGHLIGHTS

  • Ten garden apartments in two buildings with shared parking lot
  • Six two-bedroom and four one-bedroom apartments
  • Excellent condition; new roofs, furnaces, and windows
  • Large bedrooms, eat-in kitchens, and some with balconies
  • Residential village neighborhood
  • 4.4-acre lot allows room for additional development

OVERVIEW

Ten apartments in one brick six-unit apartment building and one frame four-unit apartment building with a common gravel parking lot in Gasport, NY. The six-unit building has six two-bedroom apartments, and the four-unit building has four one-bedroom apartments. There is a gas boiler and water tanks in each building, and the owner pays the gas for the heat and hot water tank, the common electric, and the water. The apartments include large bedrooms, eat-in kitchens, balconies on the upper floors of the six-unit building, heat and hot water included in the rent, and front door parking at both buildings. The property is in excellent condition; the owner has done considerable work to the buildings and recent improvements include: new roofs on both buildings (two years), all windows replaced, new hot water boiler and water tanks in each building, and replacement toilets and new vanities in the bathrooms. The rear of the 4.4-acre parcel is zoned for additional apartments. Gasport in the Town of Royalton in Niagara County seven miles east of the City of Lockport. The immediate neighborhood is residential single-family homes.

FOR SALE DETAILS

PRICE

$897,000 USD

PRICE/SF

$114 USD /SF

# OF UNITS

10

PRICE/UNIT

$89,700

CAP RATE

5.94%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Gasport Garden Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1971

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.4 AC

LAND SF

191,664 SF

ZONING

R

APN/PARCEL ID

293689-097-012-0002-029-000

ASK ABOUT THIS PROPERTY

Brian HeineBrian Heine - Licensed Real Estate BrokerMore Info
716-884-4437

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Brian HeineBrian Heine - Licensed Real Estate BrokerMore Info
716-884-4437

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