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Chestnut Farms Apartments 4725 Chestnut Ridge Rd 14 Unit Apartment Building $1,750,000 ($125,000/Unit) 5% Cap Rate Amherst, NY 14228
Investment Highlights
- One, two, and three bedroom apartments with separate utilities
- Open and unique apartment layouts
- Additional garages and coin laundry
- Some apartments have in unit washers and dryers and multiple bathrooms
- Amherst location near the State University of NY at Buffalo north Amherst campus
- Near office parks and shopping plazas
Executive Summary
Fourteen apartments with separate utilities in four apartment buildings on a single lot on Chestnut Ridge Road in the town of Amherst. The existing buildings at the site were remodeled and additional new buildings constructed in 1981. There are four apartment buildings; A (six apartments), B (two apartments), C (three apartments, and D (three townhouse apartments). The apartment layouts are large. unique, well thought out. Features include open kitchens and combination hardwood flooring and carpet in the new construction in building A, and the incorporation of rustic barnwood beams, patios, multiple bathrooms, and in unit laundries in building D. The property is in excellent condition with capital improvements and larger repairs from 2020 through 2025.
Chestnut Ridge Road is a mix of apartment buildings, condominiums, and student housing adjacent to the State University of NY at Buffalo north Amherst campus. The property is walking distance to the Rensch Road University entrance.
Chestnut Ridge Road is a mix of apartment buildings, condominiums, and student housing adjacent to the State University of NY at Buffalo north Amherst campus. The property is walking distance to the Rensch Road University entrance.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$178,500
|
$13.96
|
| Other Income |
$3,700
|
$0.29
|
| Vacancy Loss |
$8,925
|
$0.70
|
| Effective Gross Income |
$173,275
|
$13.55
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$85,776
|
$6.71
|
| Net Operating Income |
$87,499
|
$6.84
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $178,500 |
| Annual Per SF | $13.96 |
| Other Income | |
|---|---|
| Annual | $3,700 |
| Annual Per SF | $0.29 |
| Vacancy Loss | |
|---|---|
| Annual | $8,925 |
| Annual Per SF | $0.70 |
| Effective Gross Income | |
|---|---|
| Annual | $173,275 |
| Annual Per SF | $13.55 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $85,776 |
| Annual Per SF | $6.71 |
| Net Operating Income | |
|---|---|
| Annual | $87,499 |
| Annual Per SF | $6.84 |
Property Facts
| Price | $1,750,000 | Building Class | C |
| Price Per Unit | $125,000 | Lot Size | 1.12 AC |
| Sale Type | Investment | Building Size | 12,787 SF |
| Cap Rate | 5% | No. Stories | 2 |
| No. Units | 14 | Year Built | 1981 |
| Property Type | Multifamily | Parking Ratio | 1.36/1,000 SF |
| Property Subtype | Apartment |
| Price | $1,750,000 |
| Price Per Unit | $125,000 |
| Sale Type | Investment |
| Cap Rate | 5% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 1.12 AC |
| Building Size | 12,787 SF |
| No. Stories | 2 |
| Year Built | 1981 |
| Parking Ratio | 1.36/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
| 1+1 | 4 | - | - |
| 2+2 | 3 | - | - |
| 3+2 | 1 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 142289-054-340-0001-005-000 | Improvements Assessment | $970,000 (2025) |
| Land Assessment | $310,000 (2025) | Total Assessment | $1,280,000 (2025) |
Property Taxes
Parcel Number
142289-054-340-0001-005-000
Land Assessment
$310,000 (2025)
Improvements Assessment
$970,000 (2025)
Total Assessment
$1,280,000 (2025)
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Chestnut Farms Apartments | 4725 Chestnut Ridge Rd