Hillside Place 297 W Main St 54 Unit Apartment Building $17,788,326 CAD ($329,413 CAD/Unit) 5.34% Cap Rate Springville, NY 14141

Hillside Place Apartments at 297 W.? Main St.?, Springville, NY 14141 presents a rare opportunity to acquire a newly constructed, fully stabilized 54-unit multifamily community in the growing Southtowns market of Erie County.? This 100% occupied asset features highly desirable single-story, patio-style apartment homes designed for today’s renters, with all 54 units offering spacious 2-bedroom layouts of approximately 1,140 SF.? Residents enjoy modern farmhouse-inspired architecture, private individual entrances, attached garages, in-unit laundry, central air, stainless steel appliances, hard-surface countertops, LVT flooring, and private patios.? The community consists of 12 buildings and benefits from easy access to Route 219, connecting residents to Buffalo, regional employment centers, shopping, dining, healthcare, and year-round recreation.? With current rents reportedly below market for comparable new construction, the property offers compelling upside through continued lease optimization.? Offered at $12.9 million, the asset is marketed at a 5.5% in-place cap rate with a projected Year 1 pro forma cap rate of 6.75%, making it an attractive blend of durable cash flow, premium construction, and future growth potential.?