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East and West Road Apartments 1545 East and West Rd 20 Unit Apartment Building $2,600,000 ($130,000/Unit) 6.17% Cap Rate West Seneca, NY 14224
INVESTMENT HIGHLIGHTS
- Suburban garden apartments with balconies and large parking lot
- Brick apartments in excellent condition, newer roofs and furnaces
- Residential neighborhood near Transit Road retail corridor
- All two-bedroom apartments
- Orchard Park School District
- Upside with apartment remodeling and increased income
EXECUTIVE SUMMARY
20 two-bedroom luxury apartments in two ten-unit brick buildings with parking on a 1.2-acre greenspace hilltop lot. The apartments include appliances, dishwashers, dining areas, good closet space, and balconies and patios on the upper two floors. The buildings are in excellent condition including newer roofs and furnaces. The heat and hot water are included in the rent, there are gas fired forced hot water boilers in each building, and parking is in a large lot next to the buildings. Additionally, there are large individual basement storage rooms and laundry machines in each building.
East and West Road near the intersection with Leydecker Road across from Sunshine Park in the town of West Seneca. Nearby is the Transit Road commercial corridor with shopping and entertainment. Orchard Park schools.
East and West Road near the intersection with Leydecker Road across from Sunshine Park in the town of West Seneca. Nearby is the Transit Road commercial corridor with shopping and entertainment. Orchard Park schools.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$255,060
|
$14.17
|
| Other Income |
$6,000
|
$0.33
|
| Vacancy Loss |
$12,753
|
$0.71
|
| Effective Gross Income |
$248,307
|
$13.79
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$87,980
|
$4.89
|
| Net Operating Income |
$160,327
|
$8.91
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $255,060 |
| Annual Per SF | $14.17 |
| Other Income | |
|---|---|
| Annual | $6,000 |
| Annual Per SF | $0.33 |
| Vacancy Loss | |
|---|---|
| Annual | $12,753 |
| Annual Per SF | $0.71 |
| Effective Gross Income | |
|---|---|
| Annual | $248,307 |
| Annual Per SF | $13.79 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $87,980 |
| Annual Per SF | $4.89 |
| Net Operating Income | |
|---|---|
| Annual | $160,327 |
| Annual Per SF | $8.91 |
PROPERTY FACTS Under Contract
| Price | $2,600,000 | Apartment Style | Low-Rise |
| Price Per Unit | $130,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.20 AC |
| Cap Rate | 6.17% | Building Size | 18,000 SF |
| No. Units | 20 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1970 |
| Zoning | 04 - FARM | ||
| Price | $2,600,000 |
| Price Per Unit | $130,000 |
| Sale Type | Investment |
| Cap Rate | 6.17% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.20 AC |
| Building Size | 18,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1970 |
| Zoning | 04 - FARM |
AMENITIES
UNIT AMENITIES
- Microwave
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 20 | - | - |
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PROPERTY TAXES
| Parcel Number | 146800-144-160-0001-036-000 | Improvements Assessment | $343,900 (2024) |
| Land Assessment | $72,100 (2024) | Total Assessment | $416,000 (2024) |
PROPERTY TAXES
Parcel Number
146800-144-160-0001-036-000
Land Assessment
$72,100 (2024)
Improvements Assessment
$343,900 (2024)
Total Assessment
$416,000 (2024)
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Presented by
Brian Heine - Licensed Real Estate Broker
East and West Road Apartments | 1545 East and West Rd
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