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Colvin Avenue Apartments 272 Colvin Ave 12 Unit Apartment Building $2,394,525 CAD ($199,544 CAD/Unit) 6.16% Cap Rate Buffalo, NY 14216
Investment Highlights
- Remodeled apartments with hardwood floors and updated kitchens and baths
- North Buffalo location along Hertel Avenue retail corridor
- All one-bedroom apartments
- Brick building in excellent condition
- Nearby is the State University of NY at Buffalo south campus
- All city inspections current
Executive Summary
12 apartments in a three-story brick building in densely populated north Buffalo. The apartments are one-bedroom and share an identical layout with one-bath and open up from a central three floor staircase. All the apartments have been remodeled including hardwood floors and updated kitchens with new appliances and new bathrooms. Rent includes water, garbage, hot water, heat, internet. The building is in excellent condition; the windows have been previously replaced; the flat roof is approximately 15 years old. Two gas fired steam furnaces and two tankless hot water heaters.
Colvin Avenue north of the intersection with Hertel Avenue in north Buffalo. Nearby are the State University of New York at Buffalo’s Main Street campus and the Hertel Avenue shopping and retail corridor.
Colvin Avenue north of the intersection with Hertel Avenue in north Buffalo. Nearby are the State University of New York at Buffalo’s Main Street campus and the Hertel Avenue shopping and retail corridor.
Financial Summary (Pro Forma - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$223,060
|
$25.82
|
| Other Income |
$3,941
|
$0.46
|
| Vacancy Loss |
$11,153
|
$1.29
|
| Effective Gross Income |
$215,848
|
$24.98
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$68,288
|
$7.90
|
| Net Operating Income |
$147,560
|
$17.08
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $223,060 |
| Annual Per SF | $25.82 |
| Other Income (CAD) | |
|---|---|
| Annual | $3,941 |
| Annual Per SF | $0.46 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $11,153 |
| Annual Per SF | $1.29 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $215,848 |
| Annual Per SF | $24.98 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $68,288 |
| Annual Per SF | $7.90 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $147,560 |
| Annual Per SF | $17.08 |
Property Facts
| Price | $2,394,525 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $199,544 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 6.16% | Building Size | 8,640 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1940 |
| Property Subtype | Apartment | ||
| Zoning | MF | ||
| Price | $2,394,525 CAD |
| Price Per Unit | $199,544 CAD |
| Sale Type | Investment |
| Cap Rate | 6.16% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 8,640 SF |
| No. Stories | 3 |
| Year Built | 1940 |
| Zoning | MF |
Amenities
Unit Amenities
- Heating
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $1,635 CAD | 600 |
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Walk Score®
Very Walkable (81)
Property Taxes
| Parcel Number | 140200-078-650-0001-017-000 | Improvements Assessment | $823,792 CAD (2024) |
| Land Assessment | $54,313 CAD (2024) | Total Assessment | $878,104 CAD (2024) |
Property Taxes
Parcel Number
140200-078-650-0001-017-000
Land Assessment
$54,313 CAD (2024)
Improvements Assessment
$823,792 CAD (2024)
Total Assessment
$878,104 CAD (2024)
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Presented by
Brian Heine - Licensed Real Estate Broker
Colvin Avenue Apartments | 272 Colvin Ave
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