Gasport Garden Apartments
Ten garden apartments in two buildings with shared parking lot
Six two-bedroom and four one-bedroom apartments
Excellent condition; new roofs, furnaces, and windows
Large bedrooms, eat-in kitchens, and some with balconies
Residential village neighborhood
4.4-acre lot allows room for additional development
Property Description
Ten apartments in one brick six-unit apartment building and one frame four-unit apartment building with a common gravel parking lot in Gasport, NY. The six-unit building has six two-bedroom apartments, and the four-unit building has four one-bedroom apartments. There is a gas boiler and water tanks in each building, and the owner pays the gas for the heat and hot water tank, the common electric, and the water. The apartments include large bedrooms, eat-in kitchens, balconies on the upper floors of the six-unit building, heat and hot water included in the rent, and front door parking at both buildings. The property is in excellent condition; the owner has done considerable work to the buildings and recent improvements include: new roofs on both buildings (two years), all windows replaced, new hot water boiler and water tanks in each building, and replacement toilets and new vanities in the bathrooms. The rear of the 4.4-acre parcel is zoned for additional apartments. Gasport in the Town of Royalton in Niagara County seven miles east of the City of Lockport. The immediate neighborhood is residential single-family homes.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | Apartment Buildings |
| Price: | $897,000 |
| No. of Units: | 10 |
| Cap Rate: | 6.0% |
| Year Built: | 1971 |
| Building Size: | 7,856 Sq ft |
| Lot Size: | 4.40 Acres |
| Opportunity Zone: | No |
| Price per unit: | $89,700 |
Unit mix
| Description | No. of Units | Sq ft. | Avg. Monthly Rent |
|---|
FINANCIAL DETAILS
| Income/expense info: | Pro Forma |
|---|---|
| Financial year: | 2026 |
| Gross income: | 105300 |
| Effective Gross income: | 100935 |
| Operating expenses: | 47395 |
| Net operating income: | 53540 |
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