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BROS RE - UNIVERSITY HEIGHTS - UB MAIN ST. 169 Merrimac St 42 Unit Apartment Building $6,000,000 ($142,857/Unit) 11.92% Cap Rate Buffalo, NY 14214
INVESTMENT HIGHLIGHTS
- HUGE CASH FLOWING ASSETS / 100% OCCUPIED / SINGLE LEASE PER BUILDING / 23 BUILDINGS
- UTITLTIES / CABLE / LAUNDRY / APPLIANCES ARE PROVIDED
- A+ WALKING SCORES TO CAMPUS / PUBLIC TRANPORTAION -SUBWAY - BUILDINGS BEING OFFERED AT BELOW MARKET VALUES
EXECUTIVE SUMMARY
NOW BEING OFFERED, AN ACCEPTIONAL "VALUE ADD" MULTI BUILDING ASSET WITH TREMENDOUS CASH FLOW! 23 BUILDINGS, LOCATED IN THE UNIVERSITY HEIGHTS DISTRICT OF BUFFALO, N.Y.
169 MERRIMAC IS BEING SOLD WITH 22 OTHER PROPERTIES AS A PROFITABLE STUDENT HOUSING PACKAGE THAT IS WITHIN WALKING DISTANCE TO SUNY BUFFALO.
ALL BUILDINGS ARE 100% LEASED.
LEASES ARE ANNUAL LEASES, WITH 12 MONTH AGREEMENTS AND THERE IS ONE LEASE PER BUILDING.
OWNER OF 30 YEARS LOOKING TO RETIRE! CONTINUOUS CAP EX. IS ONGOING. ALL LEASES TERMINATE IN MAY.
CURRENT INPLACE CAP RATE IS APPROX. 13.0%
ALL BUILDINGS STRATEGICALLY LOCATED NEAR EACH OTHER.
OPTION TO TAKE OVER CURRENT STAFF
3077 MAIN ST. IS A MIXED USED BUILDING THAT SERVES AND AN OFFICE FOR MANAGMENT WITH 3 APARTMENTS.
NDA REQUIRE BEFORE TOURS, PLEASE SEE SUPPLIMENTS ATTACHED
SEE INVENTORY LIST - PRICED TO SELL!!!
169 MERRIMAC IS BEING SOLD WITH 22 OTHER PROPERTIES AS A PROFITABLE STUDENT HOUSING PACKAGE THAT IS WITHIN WALKING DISTANCE TO SUNY BUFFALO.
ALL BUILDINGS ARE 100% LEASED.
LEASES ARE ANNUAL LEASES, WITH 12 MONTH AGREEMENTS AND THERE IS ONE LEASE PER BUILDING.
OWNER OF 30 YEARS LOOKING TO RETIRE! CONTINUOUS CAP EX. IS ONGOING. ALL LEASES TERMINATE IN MAY.
CURRENT INPLACE CAP RATE IS APPROX. 13.0%
ALL BUILDINGS STRATEGICALLY LOCATED NEAR EACH OTHER.
OPTION TO TAKE OVER CURRENT STAFF
3077 MAIN ST. IS A MIXED USED BUILDING THAT SERVES AND AN OFFICE FOR MANAGMENT WITH 3 APARTMENTS.
NDA REQUIRE BEFORE TOURS, PLEASE SEE SUPPLIMENTS ATTACHED
SEE INVENTORY LIST - PRICED TO SELL!!!
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $6,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $142,857 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 11.92% | Building Size | 2,636 SF |
| Gross Rent Multiplier | 4.7 | Average Occupancy | 100% |
| No. Units | 42 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1912/2000 |
| Property Subtype | Apartment |
| Price | $6,000,000 |
| Price Per Unit | $142,857 |
| Sale Type | Investment |
| Cap Rate | 11.92% |
| Gross Rent Multiplier | 4.7 |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 2,636 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1912/2000 |
AMENITIES
UNIT AMENITIES
- Storage Space
- Washer/Dryer
- Hardwood Floors
- Refrigerator
- Range
- Carpet
- Wi-Fi
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 8+2 | 13 | $5,265 | 800 - 1,000 |
| 7+2 | 4 | $4,606 | 1,000 |
| 5+2 | 5 | $3,210 | 1,000 - 2,500 |
| 6+3 | 1 | $3,600 | 4,440 |
1 1
Walk Score®
Very Walkable (75)
Bike Score®
Very Bikeable (77)
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
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BROS RE - UNIVERSITY HEIGHTS - UB MAIN ST. | 169 Merrimac St
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