| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 60th | Good |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2402 N Forest Rd, Getzville, NY, 14068, US |
| Region / Metro | Getzville |
| Year of Construction | 1992 |
| Units | 121 |
| Transaction Date | 2020-12-29 |
| Transaction Price | $9,548,009 |
| Buyer | 2402 NORTH FOREST ROAD LLC |
| Seller | CREEKVIEW COURT LLC |
2402 N Forest Rd Getzville Multifamily Investment
Neighborhood data point to a deep renter base and steady household growth that can support leasing durability, according to WDSuite’s CRE market data. Focus on renter demand and location fundamentals rather than outsized rent assumptions.
The property sits in an Inner Suburb of the Buffalo-Cheektowaga metro that is competitive among metro neighborhoods (ranked 55 out of 301). Local amenities skew practical: restaurants and parks test in the top quartile nationally, while grocery access is above average; cafés and pharmacies are limited, which may influence resident convenience expectations.
For multifamily investors, the renter-occupied share of housing units in the neighborhood is high, signaling depth in the tenant base and potential support for occupancy. Neighborhood occupancy has been softer recently, indicating the need for active leasing and retention strategies to maintain stability relative to metro trends.
Within a 3-mile radius, population and household counts have grown over the last five years, with additional gains projected, pointing to a larger tenant base over time. Median rents in the area remain moderate relative to incomes and ownership costs, which can aid lease retention and broaden the pool of prospective renters.
The asset’s 1992 vintage is newer than the neighborhood average (mid-1980s), offering a competitive position versus older stock. Investors should still plan for periodic system upgrades and selective renovations to preserve appeal and support rent growth consistent with market positioning.
Neighborhood-level crime rankings are not available in WDSuite for this location, so comparative safety insights versus the Buffalo-Cheektowaga metro cannot be stated here. Investors commonly supplement market diligence with municipal police statistics and insurer loss data to benchmark trends at the neighborhood and city levels.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, notably in healthcare, logistics, and financial services. The list below reflects major employers within typical commuting distance.
- UnitedHealth Group — healthcare services (4.2 miles)
- FedEx Trade Networks — logistics & trade services (6.8 miles)
- M&T Bank Corp. — banking & financial services (9.6 miles) — HQ
- Thermo Fisher Scientifc — life sciences (9.8 miles)
- McKesson — healthcare distribution (11.3 miles)
This 121-unit, 1992-vintage community benefits from a high share of renter-occupied housing at the neighborhood level and growing 3-mile household counts, supporting a durable tenant base. According to CRE market data from WDSuite, neighborhood occupancy has eased, so performance hinges on targeted leasing, renewal management, and maintaining a competitive finish level versus older stock.
Amenity access skews toward parks, restaurants, and groceries, while ownership remains a higher-commitment option, which can sustain rental demand and aid retention. The asset’s slightly newer vintage than local averages suggests manageable capital planning with potential value-add through selective interior and system updates rather than full repositioning.
- High renter concentration signals depth of tenant demand and supports leasing durability.
- 3-mile population and household growth expand the renter pool, aiding occupancy over time.
- 1992 vintage offers a competitive edge versus older stock with room for targeted upgrades.
- Practical amenity access (parks, restaurants, groceries) supports everyday livability and retention.
- Risk: Softer neighborhood occupancy and limited café/pharmacy options call for active leasing and resident services to preserve performance.