NOT LISTED FOR SALE

505 Ridge Rd Unit 503 Lackawanna, NY 14218

Estimated Value: $204,000 - $215,336

6 Beds
3 Baths
3,276 Sq Ft
$64/Sq Ft Est. Value

Last Sold June 28, 2024

Last sale price $209,000 $64 Per Sq Ft

Est. 1% increase in value since last sale

Current estimated payment $1,394/month

12 Days on Market

Highlights

  • Deck
  • Attic
  • Awning
  • Property is near public transit
  • Programmable Thermostat
  • Forced Air Heating System

About This Home

As of June 2024

3-unit money maker with potential to bring in over $3,100 per month in rent plus coin operated laundry. Existing 2 tenants plan to stay and HUGE vacant 3br upper apartment with estimated market value $1,350 - $1,400 could easily be the owners unit! 2nd floor upper apartment boasts finished 3rd story living space that essentially doubles the size of the unit. Lower front unit has already signed lease renewal for increase from $775 to $805 per month beginning 5/1/2024. Lower rear leased through 9/30/2024. With some creativity the basement could be turned into an additional rental unit with separate entrance. An easy addition to any portfolio with professional management already in place. Located near bus route and minutes from major highways!

Last Agent to Sell the Property

Christopher Lofstrand

Listing by Nichol City Realty Brokerage Phone: 716-609-4075 License #10401359173 Listed on: 04/16/2024

Last Buyer's Agent

George Bauer

Listing by HUNT Real Estate Corporation License #10401211614

HUNT Real Estate Corporation

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,877

Year Built

  • Built in 1910

Lot Details

  • 4,409 Sq Ft Lot
  • Lot Dimensions are 32x137
  • Partially Fenced Property

Home Design

  • Triplex
  • Block Foundation
  • Aluminum Siding
  • Steel Siding
  • Copper Plumbing

Interior Spaces

  • 3,276 Sq Ft Home
  • 3-Story Property
  • Awning
  • Attic

Flooring

  • Laminate
  • Vinyl

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 3 Full Bathrooms

Basement

  • Basement Fills Entire Space Under The House
  • Sump Pump

Utilities

  • Forced Air Heating System
  • Heating System Uses Gas
  • Programmable Thermostat
  • PEX Plumbing
  • Gas Water Heater

Additional Features

  • Deck
  • Property is near public transit

Listing and Financial Details

  • Rent includes gardener, water
  • Tax Lot 10
  • Assessor Parcel Number 140900-142-370-0002-010-000

Community Details

Overview

  • 3 Units
  • Buffalo Crk Reservation Subdivision

Amenities

  • Laundry Facilities

Building Details

  • 3 Separate Gas Meters
  • Operating Expense $7,934
  • Gross Income $37,800

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,877

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Property Type: Residential
  • Rent Includes: Gardener, Water
  • Year Built: 1910
  • Unit: 503
  • Attribution Contact: 716-609-4075
  • ResoLaundryFeatures: Common Area
  • Lot Features: Near Public Transit
  • Road Frontage Type: Main Thoroughfare
  • Subdivision Name: Buffalo Crk Reservation
  • Directions: Ridge Rd and Center St intersection. Across from public parking lot and baseball field
  • Architectural Style: Triplex
  • Flooring: Laminate, Varies, Vinyl
  • Interior Features: Attic, Programmable Thermostat
  • Year Built Details: Existing
  • Financial Info Electric: Circuit Breakers
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: None

Interior Features

  • Appliances: Electric Water Heater, Gas Water Heater
  • Basement: Full, Sump Pump
  • Basement YN: Yes
  • Full Bathrooms: 3
  • Total Bedrooms: 6
  • Stories: 3
  • Stories: 3

Exterior Features

  • Fencing: Partial
  • Acres: 0.1012
  • Waterfront: No
  • Construction Type: Aluminum Siding, Block, Concrete, Steel Siding, Copper Plumbing, PEX Plumbing
  • Exterior Features: Awning(s), Deck, Fence
  • Foundation Details: Block
  • Patio And Porch Features: Deck

Garage/Parking

  • Parking Features: No Driveway

Utilities

  • Heating: Gas, Forced Air
  • HeatingYN: Yes
  • Utilities: Sewer Connected, Water Connected
  • Water Source: Connected, Public

Condo/Co-op/Association

  • Senior Community: No

Schools

  • Junior High Dist: Lackawanna

Lot Info

  • Parcel Number: 140900-142-370-0002-010-000
  • Lot Dimensions: 32X137
  • Lot Size Sq Ft: 4409.0
  • ResoLotSizeUnits: Acres
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units In Community: 3
  • Number Of Units Total: 3
  • Annual Gross Income: 37800.0
  • Annual Operating Expense: 7934.0
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3

Tax Info

  • Tax Annual Amount: 5877.0
  • Tax Lot: 10

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 16, 2024
Closed on
Jun 18, 2024
Sold by
Cjl Ii Holdings Llc
Bought by
Ultra Iron Realty Llc
Seller's Agent
Christopher Lofstrand
Nichol City Realty
Buyer's Agent
George Bauer
HUNT Real Estate Corporation
List Price
$209,000
Sold Price
$209,000
Views
70
Current Estimated Value
$210,834

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,834
Avg. Annual Appreciation
-1.45%

Purchase Details

Closed on
May 29, 2019
Sold by
Tripodi Stephen F and Tripodi Wong C
Bought by
Cjl Ii Holdings Llc
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Ultra Iron Realty Llc $209,000 None Available
Ultra Iron Realty Llc $209,000 None Available
Cjl Ii Holdings Llc $129,000 Eastern Abstract Of Ny Inc
Cjl Ii Holdings Llc $129,000 Eastern Abstract Of Ny Inc
Cjl Ii Holdings Llc $129,000 Eastern Abstract Of Ny Inc
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/28/2024 06/28/24 Sold $209,000 0.0% $64 / Sq Ft
04/29/2024 04/29/24 Pending -- -- --
04/16/2024 04/16/24 For Sale $209,000 -- $64 / Sq Ft
Source: Western New York Real Estate Information Services (WNYREIS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 -- $130,000 $6,800 $123,200
2023 $2,937 $130,000 $6,800 $123,200
2022 $3,171 $130,000 $6,800 $123,200
2021 $3,199 $130,000 $6,800 $123,200
2020 $1,183 $130,000 $6,800 $123,200
2019 $3,461 $55,000 $4,100 $50,900
2018 $2,123 $55,000 $4,100 $50,900
2017 $3,461 $55,000 $4,100 $50,900
Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2024

    Christopher Lofstrand

    Nichol City Realty

    (716) 609-4075

    1 in this area

    2 Total Sales

    Christopher Lofstrand
    Section Image
  • George Bauer

    Buyer's Agent in 2024

    George Bauer

    Hunt Real Estate

    (716) 605-9777

    2 in this area

    28 Total Sales

    George Bauer
    Section Image
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Map

Source: Western New York Real Estate Information Services (WNYREIS)

MLS Number: B1532161

Western New York Real Estate Information Services (WNYREIS)

APN: 140900-142-370-0002-010-000

New York Erie County Lackawanna 14218

505 Ridge Rd Unit 503, Lackawanna, NY

This home is located at 505 Ridge Rd Unit 503, Lackawanna, NY 14218 since 16 April 2024 and is currently estimated at $210,834, approximately $64 per square foot. This property was built in 1910. 505 Ridge Rd Unit 503 is a home located in Erie County with nearby schools including Truman Elementary School, Martin Road Elementary School, and Lackawanna Middle School.

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