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Arbor Meadows & Summershade Apartments 61 S Fisher Rd 78 Unit Apartment Building $10,264,089 CAD ($131,591 CAD/Unit) 7.26% Cap Rate Buffalo, NY 14218
INVESTMENT HIGHLIGHTS
- VERY WELL MAINTAINED, SELF MANAGED BY OWNER
- CLOSE TO MAIN ROADWAYS, SHOPPING CENTERS, SCHOOLS, PARKS AND BUFFALO CBD, AS WELL AS THE BUFFALO INTL. AIRPORT AND THE CANADIAN BORDER
- THE CURRENT RENT DELTA AS COMPARED TO PROPOSED MARKET RENTS IS AT 87%
- STRONG OCCUPANCY, EXCELLANT RENTAL LOCATION, STRONG TENANT PIPLINE
- CURRENT OWNERSHIP CONINUTES WITH ROUTINE MAINTENANCE AND CAP EX. / UNITS SHOW VERY WELL.
- METERED AND SUB-METERED UNITS / ALL 2 BED ROOM UNITS / THERE IS PLENTY OF OFF-STREET SURFACE PARKING
EXECUTIVE SUMMARY
NOW OFFERING ARBOR MEADOWS AND SUMMERSHADE APARTMENTS.
78 UNITS, ALL 2 BEDROOMS with FULL BATHS
TWO COMPLEXES SOLD TOGETHER, NO SEPERATION PER OWNER -PACKAGE SALE
48 UNIT COMPLEX ACROSS FROM 30 UNIT COMPLEX
WELL MANAGED, AND WELL CARED FOR / 98% OCCUPIED, LONG TERM TENANCY
RENT EXCALATION OPPORTUNITY WITH LEASE TRADEOUTS. RENTS CURRENTLY BELOW MARKET.
STORAGE AND LAUNDRY ON SITE, LAUNDRY MACHINES CONVEYS
SEE ATTACHMENTS FOR DETAILS ON INCOME AND EXPENSES PLEASE.
78 UNITS, ALL 2 BEDROOMS with FULL BATHS
TWO COMPLEXES SOLD TOGETHER, NO SEPERATION PER OWNER -PACKAGE SALE
48 UNIT COMPLEX ACROSS FROM 30 UNIT COMPLEX
WELL MANAGED, AND WELL CARED FOR / 98% OCCUPIED, LONG TERM TENANCY
RENT EXCALATION OPPORTUNITY WITH LEASE TRADEOUTS. RENTS CURRENTLY BELOW MARKET.
STORAGE AND LAUNDRY ON SITE, LAUNDRY MACHINES CONVEYS
SEE ATTACHMENTS FOR DETAILS ON INCOME AND EXPENSES PLEASE.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $10,264,089 CAD | Apartment Style | Garden |
| Price Per Unit | $131,591 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 3.70 AC |
| Cap Rate | 7.26% | Building Size | 110,592 SF |
| Gross Rent Multiplier | 8 | Average Occupancy | 98% |
| No. Units | 78 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | ||
| Zoning | 04 | ||
| Price | $10,264,089 CAD |
| Price Per Unit | $131,591 CAD |
| Sale Type | Investment |
| Cap Rate | 7.26% |
| Gross Rent Multiplier | 8 |
| No. Units | 78 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.70 AC |
| Building Size | 110,592 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1970 |
| Zoning | 04 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Storage Space
- Tile Floors
- Eat-in Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Attic
- Basement
- Handrails
- Patio
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Recycling
- Trash Pickup - Curbside
- Storage Space
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 78 | $1,481 CAD | 950 - 1,100 |
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PROPERTY TAXES
| Parcel Number | 146800-142-200-0006-004-000 | Total Assessment | $729,342 CAD (2024) |
| Land Assessment | $171,536 CAD (2024) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $557,806 CAD (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
146800-142-200-0006-004-000
Land Assessment
$171,536 CAD (2024)
Improvements Assessment
$557,806 CAD (2024)
Total Assessment
$729,342 CAD (2024)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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Arbor Meadows & Summershade Apartments | 61 S Fisher Rd
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