Lofts Buffalo 14-20 Saint Louis Pl 38 Unit Apartment Building $8,492,202 CAD ($223,479 CAD/Unit) 6.85% Cap Rate Buffalo, NY 14202

This 38-unit property combines exceptional location, meticulous maintenance, and strong income potential. The four adjoining structures form a cohesive complex located at the nexus of the bustling Buffalo Niagara Medical Campus, downtown Buffalo, and trendy Allentown neighborhood - collectively home to the region's largest economic institutions and cultural destinations. With little-to-no deferred maintenance and no pending capital requirements, this property is ready to generate stable, immediate income.
BUILDING FEATURES:
• Recent capital improvements include masonry repointing, new pitched gable asphalt roofs, newer windows, and updated interiors.
• All units have individually metered gas and electric.
• Central door access controls and camera system for added security and remote management.
APARTMENT HIGHLIGHTS:
• Rents and occupancy are at market levels.
• High proportion of 1-bedroom units (most in-demand unit type in this market).
• Proven success with furnished rentals given the property’s strategic location.
• In-unit laundry in 36 of 38 apartments. The other 2 apartments share common laundry.
• High quality finishes including granite or stone countertops and hardwood floors.
• See marketing brochure for each building's floorplans
LOCATION HIGHLIGHTS:
• Across the street, the Buffalo Niagara Medical Campus features leading hospitals, research institutions, and the $400M state-of-the-art University at Buffalo School of Medicine. This “eds and meds” hub generates a deep, consistent renter pool for long-term leases or short-term furnished rentals.
• The building’s location on the north end of downtown provides walkable proximity to major employers, including M&T Bank (HQ), Delaware North (HQ), and other finance and professional service firms.
• The property sits one block south of Allen Street, one of the City’s most walkable and vibrant neighborhood commercial corridors, featuring restaurants, bars, and retail.