BUFFALO, N.Y. (WBEN).....A North Buffalo apartment complex - built in the years almost immediately after World Wat II - has been acquired by a local investment group.
EH Business Associates LLC paid $1.7 million for the three-building, 16-unit apartment complex at 580 Starin Avenue.
The deal adds to EH Business' local real estate portfolio that includes apartment complexes in Tonawanda and elsewhere in Buffalo.
The complex was owned by Starin Properties LLC, an investment group led by local entrepreneur Jeff Danahy.
Starin Properties paid $1.2 million for the complex in September, 2019 - meaning the apartment complex rose 42% in the past seven years.
The deal works out to $106,260 per apartment - nearly 16% above the regional average of $91,170 per unit.
The complex opened in 1949.
Investors pay $1.7 million for Starin Avenue apartments
Investors pay $1.7 million for Starin Avenue apartments
