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Creekside Village
41 Paradise Lane, Tonawanda, NY 14150
N/A
80
67,000 SF
Multifamily
Garden/Low-Rise
Investment
0.7%
9%
100%
1973
4.70 AC
-
Last Verified 9/15/2009
Listing ID 16283679
Highlights
All brick suburban garden apartment complex- Excellent condition, 100% occupancy
- Shows 9% cap rate and near 10% cash on cash return
- Upside with nearby rents higher
- Assumable $2,740,000 first mortgage
- Recent improvements include new roofs and entry doors
Description
80 unit brick garden apartment complex in excellent condition. Recent improvements include new roofs, entry doors, and balconies. The tenant common areas have new carpet, paint, and large energy efficient stair hall windows. Some remodeled units, onsite rental office, and property website included in sale. Seller will help with management transition. Strong area rental market with property across the street charging rents $100 higher; near 100% occupancy. The existing $2,740,000 first mortgage at 7.5% must be assumed in the sale. Vacant land included may allow the construction of additional apartments or garages.
Tonawanda (population 78,000) is a densely populated first ring suburb of Buffalo (MSA 1.2 million). The apartment complex is near the State University of NY at Buffalo north campus and ample shopping and entertainment is available on the nearby retail corridors of Niagara Falls Boulevard and Sheridan Drive.
Map of 41 Paradise Lane, Tonawanda, NY 14150 (Erie County)
Created 6/17/2009
Additional Information for 41 Paradise Lane, Tonawanda, NY 14150
- Active For Sale - 0 Listing
- Active For Lease - 0 Listing
- Previously Listed - 3 Historic Listings
- Sales Comparables Available - 1 RecentSales Record
View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.