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Eleanor Apartments 704 8th St 27 Unit Apartment Building $6,972,500 CAD ($258,241 CAD/Unit) 7.99% Cap Rate Niagara Falls, NY 14301
Executive Summary
Fully renovated in 2023, The Eleanor is a turnkey 27-unit luxury apartment building
located on Pine Avenue, just steps from Niagara Falls. The property features a strong
unit mix of 13 two-bedroom units, 13 one-bedroom units, and 1 studio, along with 4
storage units and 19 designated parking spaces.
Situated in a federally designated Opportunity Zone, the asset benefits from county
tax reductions and offers long-term tax advantages for investors. Premium amenities
include a fitness center, laundry room, elevator, keyless entry, security system,
sprinkler system, two entrances, and stainless steel appliances throughout.
With full occupancy, modern finishes, and a prime location in a high-tourism corridor,
The Eleanor delivers strong in-place cash flow with long-term appreciation potential.
The Eleanor offers modern, luxury finishes designed to attract and retain high quality tenants. Units are smoke-free and feature in-unit washer/dryers, air
conditioning and heating, hardwood and vinyl flooring, large bedrooms, and linen
closets. Select units are wheelchair accessible, and the building is equipped with a full
sprinkler system and security system throughout.
Kitchens are thoughtfully designed with granite countertops, stainless steel
appliances, eat-in layouts, and include microwaves, ranges, refrigerators, freezers,
and instant hot water systems—supporting both tenant satisfaction and long-term
durability.
These features, combined with on-site amenities and full renovation in 2023, position
The Eleanor as a top-tier multifamily asset in the Niagara Falls market.
located on Pine Avenue, just steps from Niagara Falls. The property features a strong
unit mix of 13 two-bedroom units, 13 one-bedroom units, and 1 studio, along with 4
storage units and 19 designated parking spaces.
Situated in a federally designated Opportunity Zone, the asset benefits from county
tax reductions and offers long-term tax advantages for investors. Premium amenities
include a fitness center, laundry room, elevator, keyless entry, security system,
sprinkler system, two entrances, and stainless steel appliances throughout.
With full occupancy, modern finishes, and a prime location in a high-tourism corridor,
The Eleanor delivers strong in-place cash flow with long-term appreciation potential.
The Eleanor offers modern, luxury finishes designed to attract and retain high quality tenants. Units are smoke-free and feature in-unit washer/dryers, air
conditioning and heating, hardwood and vinyl flooring, large bedrooms, and linen
closets. Select units are wheelchair accessible, and the building is equipped with a full
sprinkler system and security system throughout.
Kitchens are thoughtfully designed with granite countertops, stainless steel
appliances, eat-in layouts, and include microwaves, ranges, refrigerators, freezers,
and instant hot water systems—supporting both tenant satisfaction and long-term
durability.
These features, combined with on-site amenities and full renovation in 2023, position
The Eleanor as a top-tier multifamily asset in the Niagara Falls market.
Property Facts
| Price | $6,972,500 CAD | Building Class | C |
| Price Per Unit | $258,241 CAD | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 23,952 SF |
| Cap Rate | 7.99% | Average Occupancy | 89% |
| No. Units | 27 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1925/2023 |
| Property Subtype | Apartment | Parking Ratio | 0.79/1,000 SF |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Zoning | C2-A - Mixed | ||
| Price | $6,972,500 CAD |
| Price Per Unit | $258,241 CAD |
| Sale Type | Investment |
| Cap Rate | 7.99% |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 23,952 SF |
| Average Occupancy | 89% |
| No. Stories | 4 |
| Year Built/Renovated | 1925/2023 |
| Parking Ratio | 0.79/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C2-A - Mixed |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Refrigerator
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Fitness Center
- Laundry Facilities
- Smoke Free
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 13 | - | 500 |
| 2+1 | 14 | - | 650 - 800 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 291100-144-078-0002-051-000 | Improvements Assessment | $876,900 CAD |
| Land Assessment | $24,196 CAD | Total Assessment | $901,096 CAD |
Property Taxes
Parcel Number
291100-144-078-0002-051-000
Land Assessment
$24,196 CAD
Improvements Assessment
$876,900 CAD
Total Assessment
$901,096 CAD
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Eleanor Apartments | 704 8th St
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