Meadowlawn and Meadowspring Apartments 2 Multifamily Properties Offered at $11,136,000 in North Tonawanda, NY

80 apartments in two apartment complexes 2 ½ miles of each other; combined sale of the Meadowspring Apartments and the Meadowlawn Apartments in North Tonawanda, New York; and a single simultaneous closing is required. The Meadowlawn Apartments; 32 large luxury two-bedroom units in two 16-unit buildings with 14 garages, and the Meadowspring Apartments; 48 apartments in eight brick buildings including 32 two-bedroom units and 16 one-bedroom units. Turn-key investment with onsite management, rental, and maintenance office. Heat and water included in rent, gas fired baseboard heat. Tenants pay electric including AC. The apartments are in excellent condition; the owners have continuously upgraded the property over the past 20+ years.
North Tonawanda, between the cities of Buffalo and Niagara Falls within the Buffalo MSA (pop. 1.25 million), has convenient access to both Erie and Niagara Counties. Near grocery stores, pharmacy, and the University at Buffalo north campus. Downtown North Tonawanda has received considerable public and private investment over the past few years attracting new and higher paying tenants to the area.