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82 Merrimac St
Buffalo, NY 14214
MERRIMAC STUDENT HOUSING PACKAGE · Multifamily Property For Sale
·
11 Units
Investment Highlights
- GREAT RENTAL LOCATIONS/STUDENT LEASES ARE JOINT AND SEVERAL
- MANAGEMENT AND STAFF WILLING TO STAY
- 2026-PROJECED CAP RATE WILL BE 13%
Executive Summary
6 BUILDINGPACKAGEOF STABILIZED STUDENT HOUSING NEAR THE UNIVERSITY AT BUFFALO, NY, MAIN ST. CAMPUS.
ALL BUILDINGS UNDER 12 MONTHLEASES ATHAT ARE JOINT AND SEVERAL.
3-7 MINUTES WALK TO CAMPUS.
2026-2027 LEASEUPS IN PROCESS NOW.
MANAGMENT AND STAFF WILLING TO STAY ON.
CURRENT INPLACE NOI = $131,000 SUPPORTING A CAP RATE OF 8.6%. 2026 NOI WILL SUPPORT A CAP RATE OF 13%.
ALL BUILDINGS UNDER 12 MONTHLEASES ATHAT ARE JOINT AND SEVERAL.
3-7 MINUTES WALK TO CAMPUS.
2026-2027 LEASEUPS IN PROCESS NOW.
MANAGMENT AND STAFF WILLING TO STAY ON.
CURRENT INPLACE NOI = $131,000 SUPPORTING A CAP RATE OF 8.6%. 2026 NOI WILL SUPPORT A CAP RATE OF 13%.
Property Facts
| Price Per Unit | $186,779 CAD | Apartment Style | Single-Family Home |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 8.74% | Lot Size | 0.08 AC |
| Gross Rent Multiplier | 5.6 | Building Size | 2,808 SF |
| No. Units | 11 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1920/2000 |
| Price Per Unit | $186,779 CAD |
| Sale Type | Investment |
| Cap Rate | 8.74% |
| Gross Rent Multiplier | 5.6 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 2,808 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1920/2000 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+1 | 10 | $6,506 CAD | 2,112 - 2,406 |
| 5+2 | 1 | $3,767 CAD | 1,744 |
Property Taxes
| Parcel Number | 140200-079-460-0007-010-000 | Improvements Assessment | $297,227 CAD |
| Land Assessment | $28,764 CAD | Total Assessment | $325,991 CAD |
Property Taxes
Parcel Number
140200-079-460-0007-010-000
Land Assessment
$28,764 CAD
Improvements Assessment
$297,227 CAD
Total Assessment
$325,991 CAD
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