11-Unit Multifamily Apartment
55 Washington Street Unit 11 Lockport, NY 14094
For Sale
$1,175,000
Stabilized 11-unit complex across three buildings with off-street parking and tenant-paid heat and electric.
Property Size9,580 SF
Price / SF$122.65
Days on Market73
Property Features for 55 Washington Street Unit 11
General Information
- Standard status
- Active
- Size
- 9,580 SF
- Property subtype
- Multi Family / Other
Building Details
- Year Built
- 1940
Listing Agency:
Network One Realty
(716) 874-3530
Listed By:
Michael F Battaglia · License #10371200173
(716) 874-3530
Source:
Compass
Added: May 14
Changed: Jul 23
Last Checked: Jul 25 at 11:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Network One Realty
Investment Insights
Based on property information with market context.
This stabilized 11-unit multifamily property consists of three buildings plus a storage shed. The offering also includes ample additional acreage for future development. Ownership has completed substantial capital improvements. There is also an opportunity to add a 12th apartment unit by utilizing existing space on the ground level.
The property is located at 55 Washington Street (Unit 11) in Lockport City, New York. Tenants pay for heat and electric, and the site provides plenty of off-street parking. It is close to the city of Lockport and public transportation.
Additional income and expense details are available in the supplements.
The property is located at 55 Washington Street (Unit 11) in Lockport City, New York. Tenants pay for heat and electric, and the site provides plenty of off-street parking. It is close to the city of Lockport and public transportation.
Additional income and expense details are available in the supplements.
Key Highlights
- Stabilized 11‑unit multifamily complex across 3 buildings
- Tenant‑paid heat and electric
- Total building area: 9,580 SF; 2 levels
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $146.0k | $15.24 |
| − Vacancy | −$10.2k | −$1.07 |
| EGI | $135.8k | $14.17 |
| − OpEx | −$61.1k | −$6.38 |
| NOI | $74.7k | $7.80 |
9,580 SF · lease $15.24/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$933.5K – $1.24M
NOI $74,679 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$8.14M
$7.12M – $9.50M
NOI $569,806 @ 7.0% cap · market cap 48.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Stabilized 11-unit complex across three buildings with off-street parking and tenant-paid heat and electric.
Where is this apartment building located?
The property is located at 55 Washington Street Unit 11 Lockport, NY.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Stabilized 11‑unit multifamily complex across 3 buildings; Tenant‑paid heat and electric; Total building area: 9,580 SF; 2 levels
