Fully Rented Lackawanna Multifamily
18-22 Maple Grove Ave & 128 Colton Ave, Lackawanna, NY 14218
Fourteen-unit, fully rented multifamily property with income upside.
Type:Multifamily
Property size:
16,823 SFPrice / SF:
$83/SF- Added:
- Nov 21, 2025
- Days on Market:
- 180
- Last Refresh:
- Apr 5 at 8:58 pm
Property Features for 18-22 Maple Grove Ave & 128 Colton Ave
General Information
- Standard status
- Active
- Size
- 16,823 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1970
Listing agent Nicholas Corto (716) 864-1929
Listing office Hunt Commercial - Buffalo (716) 864-1929
Listing date Nov 21, 2025
Source Huntcommercial
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All listing content including descriptions, pricing, images are the copyrighted material of Hunt Commercial - Buffalo
HighLights
- Fully rented 14‑unit building generating $159,180 gross annual income
- Significant upside potential to increase rents
- Low‑maintenance property with tenants paying separate electric
- Includes tenant amenities such as coin laundry and individual storage units
- Good working mechanicals, including two boilers replaced in 2021
- Property manager available to stay on, ensuring smooth transition
Overview
This is a rare opportunity for investors to acquire a fully rented, low-maintenance, cash-flowing 14-unit property in Lackawanna, NY. The property generates a gross annual income of $159,180, with potential for increased rents. Each of the units features a similar layout, including 2 large bedrooms, 1 full bath with ceramic tile, 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 a dedicated storage unit. The current property manager is open to remaining with the property under new ownership. Due to a waiting list of prospective tenants, vacancy rates remain low. The property is being sold as a package deal consisting of 14 units, each with 2 bedrooms and 1 bath. The tenant-occupied building requires advance notice for showings, with a preference for 48 hours. Only 3 units are available for initial showings; a full inspection of the entire building can be conducted during due diligence. The package includes 8 units at Colton Ave and 6 units at Maple Grove. Commercial financing or cash is required for purchase. All tenants are currently on month-to-month leases at below-market rents, presenting an excellent value-add opportunity. The roof is approximately 10 years old. The Maple Grove location is near South Park Ave.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Lackawanna
- County
- Erie
- State
- New York
- Longitude
- -78.8262
- Latitude
- 42.8252
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Fourteen-unit, fully rented multifamily property with income upside.
Where is this apartment building located?
The property is located at 18-22 Maple Grove Ave & 128 Colton 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; Significant upside potential to increase rents; Low‑maintenance property with tenants paying separate electric
