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51-55 Washington St Lockport, NY 14094

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For Sale
$1,190,000

Established residential community with growth potential in historic Lockport.

Lot size:
0.87 Acres

Property Features for 51-55 Washington St

General Information

Property type
Commercial
Standard status
Active
Lot size
0.87 Acres

Building Details

Year built
1940

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Listing Contact
Todd P Danni
Source: Elliman

Listing Agent: Todd P Danni

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

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Overview

Turnkey Multifamily Investment Opportunity

Lockport Views Apartments presents a turnkey multifamily investment opportunity. This well-established residential community offers immediate cash flow and substantial growth potential in the historic Lockport area. The property consists of three modern buildings with a total square footage that combines all buildings. There are 12 spacious units, with 11 fully updated with contemporary finishes, energy-efficient appliances, and amenities designed for resident comfort and retention. The property has undergone comprehensive renovations, including refreshed interiors, newer mechanics, windows, upgraded common areas, and enhanced landscaping. These renovations ensure low maintenance costs and high tenant appeal, with updates including efficient kitchens and durable flooring. The property includes cleared land for the potential construction of an additional 22 units, offering the opportunity to nearly double the property's footprint and revenue stream. The location provides easy access to local amenities, schools, and commuting routes. This property delivers immediate value and long-term upside.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
Lockport
County
Niagara
State
New York
Longitude
-78.691482
Latitude
43.1761436

FAQs

What type of property is this?
Apartment building - Established residential community with growth potential in historic Lockport.
Where is this apartment building located?
The property is located at 51-55 Washington St Lockport, NY.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: - Turnkey multifamily investment with immediate cash flow.; - Potential to construct an additional 22 units, nearly doubling the property's size and revenue.; - **11 out of 12 units are fully updated** with modern finishes and energy-efficient appliances.
More about this property
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