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22827138
22827148

14, 18, 20 St Louis Pl & 519 Virginia Street, Buffalo, NY 14202

MH
NY NY 10491208216
Schneider Real Estate Services
Listed by Schneider Real Estate Services
$6,200,000
424 days on market
Updated 61 days ago

Virginia St & St Louis Place

Details
Property Type Multifamily
Sub Type Apartment Building
Units 38
Cap Rate 6.94%
Broker Co-Op Yes
Class B
Year Renovated 2014-2022
Buildings 4
Stories 4
Investment Type Stabilized

38 units available steps from Medical Campus

Marketing description

This 38-unit property combines exceptional location, meticulous maintenance, and strong income potential. The four adjoining structures form a cohesive complex located at the nexus of the bustling Buffalo Niagara Medical Campus, downtown Buffalo, and trendy Allentown neighborhood - collectively home to the region's largest economic institutions and cultural destinations. With little-to-no deferred maintenance and no pending capital requirements, this property is ready to generate stable, immediate income.

Investment highlights

BUILDING FEATURES:
• Recent
capital improvements include masonry repointing, new pitched gable asphalt roofs, newer windows, and updated interiors.
• All units have
individually metered gas and electric.
• Central door access controls and camera system for added security and
remote management.

APARTMENT HIGHLIGHTS:
• Rents and occupancy are at
market levels.
• High proportion of 1-bedroom units (most in-demand unit type in this market).
• Proven success with furnished rentals given the property’s strategic location.
• In-unit laundry in 36 of 38 apartments. The other 2 apartments share common laundry.
• High quality finishes including granite or stone countertops and hardwood floors.

LOCATION HIGHLIGHTS:
Across the street, the Buffalo Niagara Medical Campus features leading hospitals, research institutions, and the $400M state-of-the-art University at Buffalo School of Medicine. This “eds and meds” hub generates a deep, consistent renter pool for long-term leases or short-term furnished rentals.
• The building’s location on the north end of downtown provides
walkable proximity to major employers, including M&T Bank (HQ), Delaware North (HQ), and other finance and professional service firms.
• The property sits one block south of Allen Street, one of the City’s
most walkable and vibrant neighborhood commercial corridors, featuring restaurants, bars, and retail.

Listing Contacts

MH
NY NY 10491208216
Schneider Real Estate Services
Listed by Schneider Real Estate Services

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Additional Information

Name
Matt Hartrich
License
NY 10491208216
Brokerage
Schneider Real Estate Services
Brokerage Phone
716-983-4789
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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