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70 McKinley Pkwy - Downing St. Apartments 70 Unit Apartment Building Offered at $6,000,000 at a 9.12% Cap Rate Buffalo, NY 14220
EXECUTIVE SUMMARY
An exceptional investment opportunity: this well-maintained, turnkey 70-unit, all-brick apartment complex with ample off street parking is ideally located on McKinley Parkway in South Buffalo close to Frederick Law Olmsted Designed South Park & Buffalo's Botanical Gardens. This Property spans 3.8 acres across 23 buildings & features a desirable unit mix of 25 one-bedroom, 23 two-bedroom, and 22 townhouse-style apartments. All units offer separate utilities and heating systems, central air, and on-site parking. Ownership covers water and garbage. The complex currently generates $60,986 in gross monthly income and benefits from long-term tenants with rents below market, presenting strong upside potential. Each building includes a full basement with storage and individual laundry hookups (tenant-supplied washers and dryers).
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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 - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Storage Space
- Washer/Dryer Hookup
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Carpet
- Basement
- Garden
- Linen Closet
- Vinyl Flooring
- Large Bedrooms
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 25 | $950.00 | - |
| 2+1 | 45 | $1,100 | - |
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PROPERTY TAXES
| Parcel Number | 140200-133-800-0002-035-000 | Total Assessment | $3,060,000 (2024) |
| Land Assessment | $126,800 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,933,200 (2024) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Number
140200-133-800-0002-035-000
Land Assessment
$126,800 (2024)
Improvements Assessment
$2,933,200 (2024)
Total Assessment
$3,060,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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70 McKinley Pkwy - Downing St. Apartments
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