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18-22 128 Maple Grv & Colton Ave Ave Lackawanna, NY 14218

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For Sale
$1,398,000

Fully rented, low maintenance, cash flowing 14-unit multifamily property.

Lot size:
0.70 Acres

Property Features for 18-22 128 Maple Grv & Colton Ave Ave

General Information

Lot size
0.70 Acres

Building Details

Year built
1970

Source: HUNT Real Estate Corporation Agent Nicholas Corto

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Fully Rented 14-Unit Multifamily Property

This is a rare opportunity for investors to acquire a fully rented, low-maintenance, cash-flowing 14-unit property located in Lackawanna, NY. The property generates a gross annual income of $159,180, with potential for increased rents. Each unit features a similar layout, including 2 large bedrooms, 1 full bath with ceramic tiles, a kitchenette, a large living space, and hardwood floors throughout. Tenants are responsible for their individual electric bills, while gas and water are included in the rent. The building has a solid poured foundation with a full basement and a large parking lot in the rear for tenant convenience. The mechanical systems are in good working order, with 2 boilers installed in 2021, and circuit breakers are separately metered. A coin laundry is located in the basement, and each tenant has their own storage unit. The current property manager is open to remaining with the property under new ownership. A tenant waiting list helps maintain low vacancy rates. The property consists of combined units.
Location Intelligence

Current Use by Public Records

Apartment buildings

Map

City
Lackawanna
County
Erie
State
New York
Longitude
-78.8254
Latitude
42.8173

FAQs

What type of property is this?
Apartment building - Fully rented, low maintenance, cash flowing 14-unit multifamily property.
Where is this apartment building located?
The property is located at 18-22 128 Maple Grv & Colton Ave Ave Lackawanna, NY.
What is the asking price?
The asking price for this property is $1,398,000.
What are key features of this property?
This property features: - Fully rented 14-unit building generating $159,180 gross annual income.; - Low maintenance property with tenants paying separate electric.; - Potential to increase rents for higher returns.
More about this property
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