Garrison Apartments | 270 Garrison Rd
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Garrison Apartments 270 Garrison Rd
16 Unit Apartment Building $4,042,444 CAD ($252,653 CAD/Unit) 5.44% Cap Rate Williamsville, NY 14221
Investment Highlights
- Brick apartments with separate utilities
- Remodeled kitchens and bathrooms
- Amherst is Buffalo's wealthiest suburb
- Large luxury apartments with attached parking garages
- Williamsville Central School District location
- Village neighborhood surrounded by single family homes
Executive Summary
16 large luxury apartments with separate tenant utilities in four brick buildings with two attached parking garages. The apartments, at 1,200 sq. ft. to 1,300 sq. ft., feature full hardwood floors, large kitchens, full dining rooms, AC, large bedrooms. Behind the buildings is a tenant courtyard accessed through the parking garages and the entire property is fully landscaped. The basements contain large tenant storage rooms and individual tenant laundry hook ups and a basement workroom. The property is in excellent condition with many recent repairs and capital improvements. All but three of the kitchens have been remodeled to include eat in breakfast bars with new counters and cabinetry, and all the bathrooms have new wall tile or tub surrounds, tile flooring, lighting, grab bars, and other improvements.
Wehrle Drive at the intersection with Garrison Rd., in the village of Williamsville, within the town of Amherst. Amherst is Western New York's wealthiest suburb.
Wehrle Drive at the intersection with Garrison Rd., in the village of Williamsville, within the town of Amherst. Amherst is Western New York's wealthiest suburb.
Financial Summary (Pro forma - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$391,540
|
$25.41
|
| Other Income |
$3,826
|
$0.25
|
| Vacancy Loss |
$19,577
|
$1.27
|
| Effective Gross Income |
$375,788
|
$24.39
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$156,041
|
$10.13
|
| Net Operating Income |
$219,747
|
$14.26
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $391,540 |
| Annual Per SF | $25.41 |
| Other Income (CAD) | |
|---|---|
| Annual | $3,826 |
| Annual Per SF | $0.25 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $19,577 |
| Annual Per SF | $1.27 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $375,788 |
| Annual Per SF | $24.39 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $156,041 |
| Annual Per SF | $10.13 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $219,747 |
| Annual Per SF | $14.26 |
Property Facts Under Contract
| Price | $4,042,444 CAD | Building Class | C |
| Price Per Unit | $252,653 CAD | Lot Size | 0.60 AC |
| Sale Type | Investment | Building Size | 15,408 SF |
| Cap Rate | 5.44% | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 0.97/1,000 SF |
| Apartment Style | Garden |
| Price | $4,042,444 CAD |
| Price Per Unit | $252,653 CAD |
| Sale Type | Investment |
| Cap Rate | 5.44% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.60 AC |
| Building Size | 15,408 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 0.97/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Microwave
- Storage Space
- Hardwood Floors
- Oven
- Range
- Tub/Shower
- Carpet
- Freezer
- Patio
- Porch
Site Amenities
- Courtyard
- Laundry Facilities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 14 | $2,021 CAD | - |
| 2+2 | 2 | $2,166 CAD | - |
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PROPERTY TAXES
| Parcel Number | 142201-081-100-0001-012-200 | Improvements Assessment | $768,550 CAD (2023) |
| Land Assessment | $185,021 CAD (2023) | Total Assessment | $953,571 CAD (2023) |
PROPERTY TAXES
Parcel Number
142201-081-100-0001-012-200
Land Assessment
$185,021 CAD (2023)
Improvements Assessment
$768,550 CAD (2023)
Total Assessment
$953,571 CAD (2023)
zoning
| Zoning Code | C (Commercial) |
| C (Commercial) |
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Presented by
Brian Heine - Licensed Real Estate Broker
Garrison Apartments | 270 Garrison Rd
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