Attica Village Apartments 167 Main St 4 Unit Apartment Building $350,000 ($87,500/Unit) 8.09% Cap Rate Attica, NY 14011
INVESTMENT HIGHLIGHTS
- Vinyl sided apartment building with separate utilities
- Village location in a residential neighborhood
- Moderately priced rents appeal to the majority of the rental market
- Two 2-bedroom and two 1-bedroom apartments
- Newer metal roof and newer windows
- Local economy anchored by two large state employers
EXECUTIVE SUMMARY
Vinyl sided four-unit apartment building in the village of Attica with separate utilities. The apartments are large with remodeled kitchens and bathrooms, updated flooring and refinished original hardwood floors. The tenants pay their own gas and electric, the owner pays water. Each apartment has its own gas fired furnace and water tank, three of the apartments have laundry machines. Recent improvements include newer metal roofs and newer windows.
Main Street at the corner of Walnut Street in the village of Attica. Attica is 28 miles east of downtown Buffalo and ten miles south of Batavia in Wyoming County. The town and village of Attica have a population of 7,448 and the economy is anchored by two strong public employers; the Attica State Correctional Facility and the Wyoming County Correctional Facility.
Main Street at the corner of Walnut Street in the village of Attica. Attica is 28 miles east of downtown Buffalo and ten miles south of Batavia in Wyoming County. The town and village of Attica have a population of 7,448 and the economy is anchored by two strong public employers; the Attica State Correctional Facility and the Wyoming County Correctional Facility.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$40,200
|
$10.71
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,010
|
$0.54
|
| Effective Gross Income |
$38,190
|
$10.17
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$9,878
|
$2.63
|
| Net Operating Income |
$28,312
|
$7.54
|
PROPERTY FACTS
| Price | $350,000 |
| Price Per Unit | $87,500 |
| Sale Type | Investment |
| Cap Rate | 8.09% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 0.24 AC |
| Building Size | 3,754 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1900 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $775.00 | - |
| 2+2 | 2 | $900.00 | - |
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PROPERTY TAXES
| Parcel Number | 562201-006-015-0001-005-001-0000 | Improvements Assessment | $164,000 (2023) |
| Land Assessment | $5,900 (2023) | Total Assessment | $169,900 (2023) |
ZONING
| Zoning Code | 02 - SINGL |
