959 Broadway St - Apartments FOR SALE


Buffalo, NY 14212
$2,700,000 USD
716-239-6432
959 Broadway St, Buffalo, NY for Sale
$2,700,000 USD
Apartments - FOR SALE
1/38
null | 7.74% Cap Rate

959 Broadway St
Buffalo, NY 14212


HIGHLIGHTS

  • Heavy foot traffic area.
  • Corner of a main street and secondary street.
  • Next to the Broadway Market.
  • Down the street from multiple retail stores including, Starbucks, Rite Aid, and Family Dollar.

OVERVIEW

PRICE REDUCED! This is a rare opportunity to own a well-maintained, 35-unit all-brick building on a prime main road in Buffalo. The property consists of 35 total units, including five commercial spaces on the ground floor with long-term tenants, 27 spacious two-bedroom apartments, and three one-bedroom units. With over 51,000 square feet of space, the apartments are generously sized, making them highly desirable and easy to rent. Additional income is generated through coin-operated laundry facilities on each floor, and the fully electric elevator provides convenient access throughout the building. Each unit features its own forced air system, water tank, and 100-amp electric panel, with separate gas and electric utilities for the entire building. Recent capital improvements include upgrades to the elevator and a robust electrical system featuring 3-phase, 400-amp service. The clean, wide-open basement, equipped with LED lighting, offers potential for additional amenities or units. Please note that the property will be sold without a certificate of occupancy, and seller financing is available to qualified buyers. A parking lot at 697 Fillmore Avenue, directly behind the building, is available for separate purchase. With current rents being increased to $1,000 per unit, there is significant potential for revenue growth. This is an outstanding investment opportunity in a sought-after location. Income Approach to Value Available upon request. New gas meters have just been installed outside and is up to date on city inspection. Also listed as commercial, MLS#B1559065

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$52 USD /SF

# OF UNITS

35

PRICE/UNIT

$77,143

CAP RATE

7.74%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mitchell Square Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

Commercial

APN/PARCEL ID

140200-111-360-0004-026-210

ASK ABOUT THIS PROPERTY

Nicholas GiambraGiambra Realty CorpMore Info
716-239-6432

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Nicholas GiambraGiambra Realty CorpMore Info
716-239-6432

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.