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MONTROSE STUDENT HOUSING PACKAGE 63 Montrose Ave 15 Unit Apartment Building $2,100,000 ($140,000/Unit) 8.57% Cap Rate Buffalo, NY 14214
Investment Highlights
- LONG TIME OWNER- WELL MANAGED ASSETS
- EXCELLANT WALKING SCORES / COSE TO CAMPUS
- 100% OCCUPANCY-LEASES INPLACE-VALUE ADD OPPORTUNITY / LEASES JOINT AND SEVERAL
- MANAGMENT WILLING TO STAY ON WITH STAFF
Executive Summary
SUPER VALUE ADD 8 BUILDING PACKAE OF STUDENT HOUSING PROPERTIES.
ALL WALKING DOSTANCE TO UNIVERSITY AT BUFFALO MAIN ST. CAMPUS.
12 MONTH LEASES JOINT AND SEVERAL - 100% OCCUPIED, LEASE RENEWALS FOR 2026-27 STARTED
INPLACE NOI = $180,000 / 8.6% CAP RATE GOING IN.
CURRENT STAFFA AND MANAGEMENTWILLING TO STAY ON.
ALL WALKING DOSTANCE TO UNIVERSITY AT BUFFALO MAIN ST. CAMPUS.
12 MONTH LEASES JOINT AND SEVERAL - 100% OCCUPIED, LEASE RENEWALS FOR 2026-27 STARTED
INPLACE NOI = $180,000 / 8.6% CAP RATE GOING IN.
CURRENT STAFFA AND MANAGEMENTWILLING TO STAY ON.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| 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 (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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 | $2,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $140,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 8.57% | Building Size | 2,668 SF |
| Gross Rent Multiplier | 5.7 | Average Occupancy | 100% |
| No. Units | 15 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1920/2000 |
| Property Subtype | Apartment |
| Price | $2,100,000 |
| Price Per Unit | $140,000 |
| Sale Type | Investment |
| Cap Rate | 8.57% |
| Gross Rent Multiplier | 5.7 |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 2,668 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1920/2000 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+1 | 14 | $4,800 | 2,200 - 2,600 |
| 5+2 | 1 | $2,500 | 1,353 |
1 1
Walk Score®
Very Walkable (78)
Bike Score®
Very Bikeable (74)
Property Taxes
| Parcel Number | 140200-079-380-0006-028-000 | Total Assessment | $121,000 |
| Land Assessment | $10,300 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $110,700 | Tax Year | 2024 |
Property Taxes
Parcel Number
140200-079-380-0006-028-000
Land Assessment
$10,300
Improvements Assessment
$110,700
Total Assessment
$121,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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MONTROSE STUDENT HOUSING PACKAGE | 63 Montrose Ave
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