959 Ridge Rd - Apartments FOR SALE


Lackawanna, NY 14218
$4,400,000 USD
716-884-4437
959 Ridge Rd, Lackawanna, NY for Sale
$4,400,000 USD
Apartments - FOR SALE
1/12
null | 6.46% Cap Rate

959 Ridge Rd
Lackawanna, NY 14218


HIGHLIGHTS

  • Large apartments with hardwood floors
  • Heat and hot water is included in the rent and parking is either next to or behind the building
  • Building improvements include newer roofs, furnaces, and parking lot paving
  • Eight five-unit brick buildings on Ridge Road in Lackawanna
  • 24 two-bedroom and 16 one-bedroom apartments
  • Priced at $110,000 per apartment

OVERVIEW

40-unit apartment complex with 24 two-bedroom apartments and 16 one-bedroom apartments in eight five-unit brick buildings on Ridge Road near South Park Avenue in the city of Lackawanna. Recent improvements include the installation of new high efficiency furnaces in each building, the parking lot has been paved, roofs have been replaced, and many of the apartments have been updated. The apartments are large and include appliances and dining areas, there are hardwood floors throughout. The heat and hot water is included in the rent and parking is either next to or behind the buildings. Lackawanna is adjacent the southern border of the city of Buffalo. Close proximity to the Walden Galleria Mall, Buffalo-Niagara International Airport, Highmark Stadium, and downtown Buffalo. There is a bus stop directly across the street.

FOR SALE DETAILS

PRICE

$4,400,000 USD

PRICE/SF

$138 USD /SF

# OF UNITS

40

PRICE/UNIT

$110,000

CAP RATE

6.46%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

JNJ Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.8 AC

LAND SF

78,477 SF

ZONING

Commercial

APN/PARCEL ID

140900-142-070-0009-002-000,140900-142-070-0009-003-000,140900-142-070-0009-004-000,140900-142-070-0009-005-000,140900-142-070-0009-006-000

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.