JNJ Apartments
Large apartments with hardwood floors
Heat and hot water is included in the rent and parking is either next to or behind the building
Building improvements include newer roofs, furnaces, and parking lot paving
Eight five-unit brick buildings on Ridge Road in Lackawanna
24 two-bedroom and 16 one-bedroom apartments
Priced at $110,000 per apartment
Property Description
40-unit apartment complex with 24 two-bedroom apartments and 16 one-bedroom apartments in eight five-unit brick buildings on Ridge Road near South Park Avenue in the city of Lackawanna. Recent improvements include the installation of new high efficiency furnaces in each building, the parking lot has been paved, roofs have been replaced, and many of the apartments have been updated. The apartments are large and include appliances and dining areas, there are hardwood floors throughout. The heat and hot water is included in the rent and parking is either next to or behind the buildings. Lackawanna is adjacent the southern border of the city of Buffalo. Close proximity to the Walden Galleria Mall, Buffalo-Niagara International Airport, Highmark Stadium, and downtown Buffalo. There is a bus stop directly across the street.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | Apartment Buildings |
| Price: | $4,000,000 |
| No. of Units: | 40 |
| Cap Rate: | 6.5% |
| Year Built: | 1965 |
| Building Size: | 28,144 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $100,000 |
Unit mix
| Description | No. of Units | Sq ft. | Avg. Monthly Rent |
|---|
FINANCIAL DETAILS
| Income/expense info: | Pro Forma |
|---|---|
| Financial year: | 2026 |
| Gross income: | 456720 |
| Effective Gross income: | 433884 |
| Operating expenses: | 149542 |
| Net operating income: | 284342 |
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