Highland Park 164 Chalmers Ave 39 Unit Apartment Building $5,500,000 ($141,026/Unit) 6.67% Cap Rate Buffalo, NY 14214

Besen Partners has been exclusively retained by Ownership to market Highland Park – 164 Chalmers Avenue, Buffalo, NY 14214. The property was built in 2019 and contains 39 total apartments with a mix of one and two bedrooms. The units offer an attractively large average square footage of 1,162 per unit.
Situated on the north side of Chalmers Avenue between Holden Street and Hill Street in Northeast Buffalo, the property offers modern apartment living with open layouts, in-unit laundry, stainless steel appliances, granite countertops, landscaped green space, off-street parking and excellent connectivity to public transportation. The asset is well-positioned within the North Buffalo rental market, offering residents spacious, thoughtfully designed floor plans and contemporary finishes in a professionally maintained setting.
Buffalo is an economic hub in Western New York, driven by a diversified economy, strategic location, and ongoing investment. As New York State’s second-largest city, it serves as a regional center for commerce, healthcare, and education.
Anchored by institutions like the University at Buffalo, Buffalo Niagara Medical Campus, M&T Bank HQ and Tesla Gigafactory 2, the city supports strong employment and innovation. Revitalization efforts in the downtown and waterfront—highlighted by projects like Canalside—continue to enhance its appeal.
With strong connectivity, relative affordability, and growth in tech and renewable energy, Buffalo offers a compelling opportunity for commercial real estate investors seeking long-term stability and upside.
INVESTMENT HGHLIGHTS
Recent Apartment Development:
Highland Park represents a recent construction that took place on the site of a previously underutilized retail property into a modern residential community—aligning with Buffalo’s broader urban revitalization trend.
Modern Construction with Premium Finishes:
The attractive large units, averaging over 1,100 square feet, feature contemporary interiors that include stainless steel appliances, in-unit laundry, and high-end finishes—supporting strong tenant demand and premium rent positioning relative to older housing stock.
North Buffalo Location with Strong Connectivity:
Located in a desirable residential neighborhood within proximity to retail corridors and a short drive to downtown Buffalo, the property benefits from both neighborhood stability and access to employment centers including Tesla Gigafactory 2.
Part of Buffalo’s Ongoing Renaissance:
The development contributes to the city’s broader economic and residential resurgence, positioning it within a growth corridor supported by public and private investment.
Amenity-Driven Tenant Appeal:
Amenities including off-street parking, contemporary apartment layouts, and convenient access to public transportation support strong leasing activity and long-term tenant retention within Buffalo’s competitive rental market. The property is a two-minute drive (0.5 mi) from the Amherst Light Rail station and is within an eight-minute walk of multiple bus stops on East Amherst Street.
Built-In Demand from Supply-Constrained Submarket:
North Buffalo continues to see consistent rental demand driven by affordability, quality-of-life factors, and limited new construction relative to demand.