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Key Details
Sold Price $538,000
Property Type Multi-Family
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 6,900 sqft
Price per Sqft $77
Subdivision Holland Land Companys
MLS Listing ID B1447543
Sold Date 02/24/23
Construction Status Existing
HOA Y/N No
Year Built 1985
Annual Tax Amount $11,771
Lot Size 0.510 Acres
Acres 0.51
Lot Dimensions 84X262
Property Description
Attention Investors - here is an opportunity to own a well-performing apartment building in the Town of Lockport! All units have separate electric meters and the entire building is serviced by electricity only (no gas). Possible value-add opportunity to install solar panels to cover common area electricity service and increase NOI! Unit mix contains (5) two bedroom units and (1)one bedroom unity (may be possible to add second bedroom). Most apartments have had some updates such as flooring, cabinets, lighting, carpeting, etc., with 2 apartments being remodeled in 2021! Total of 12 parking spaces provides plenty of parking for residents. Residents have taken pride in their apartments and they show very well. Many are longer term with below market rents, but this provides an opportunity for the new owner to increase income. Current cap rate is 6.95%. Coin-op laundry for addl'l income. Owner pays for water, garbage, common area electric, maintenance, taxes, insurance, snow plowing and lawn care.
Location
State NY
County Niagara
Community Holland Land Companys
Area Lockport-Town-292600
Direction 290 to 990 N. Left on Millersport Hwy, left on Transit, right on Robinson Rd.
Rooms
Basement None, Sump Pump
Interior
Interior Features Storage, Window Treatments
Heating Electric, Baseboard
Cooling Window Unit(s), Wall Unit(s)
Flooring Carpet, Laminate, Varies, Vinyl
Fireplaces Number 3
Fireplace Yes
Window Features Drapes
Appliance Dishwasher, Exhaust Fan, Electric Oven, Electric Range, Electric Water Heater, Microwave, Refrigerator, Range Hood
Laundry Coin-operated
Exterior
Exterior Feature Blacktop Driveway
Community Features Laundry Facilities, Other, Storage Facilities, See Remarks
Utilities Available Sewer Connected, Water Connected
Roof Type Asphalt
Building
Lot Description Agricultural, Rectangular
Sewer Connected
Water Connected, Public
Structure Type Brick,Frame,Other,See Remarks,Wood Siding,Copper Plumbing
Construction Status Existing
Schools
High Schools Lockport High
School District Lockport
Others
Senior Community No
Tax ID 292600-138-000-0001-046-000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Conventional
Special Listing Condition Standard
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Bought with WNY Metro Roberts Realty