| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Good |
| Demographics | 55th | Fair |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 60 Oakridge Dr, West Seneca, NY, 14224, US |
| Region / Metro | West Seneca |
| Year of Construction | 1992 |
| Units | 48 |
| Transaction Date | 2017-08-22 |
| Transaction Price | $7,612,500 |
| Buyer | WEST SENECA APARTMENT GROUP LLC |
| Seller | OAKRIDGE MFR HOLDINGS LLC |
60 Oakridge Dr West Seneca Multifamily Investment
Neighborhood occupancy is above national medians and renter affordability appears manageable, supporting cash flow stability for well-run assets, according to WDSuite’s CRE market data. These metrics describe the surrounding neighborhood, not this specific property.
Located in suburban West Seneca within the Buffalo-Cheektowaga metro, the area reflects steady renter fundamentals. Neighborhood occupancy trends sit above the national median (top half nationwide), suggesting durable lease-up and retention potential for comparable assets. Median rents in the area track near the national midpoint, which helps sustain demand without overextending typical household budgets.
The broader housing context shows a relatively owner-leaning neighborhood, with renter-occupied units representing a smaller share of the stock. For investors, that translates to a moderate but dependable tenant base where well-managed properties can compete on convenience and professional management. Within a 3-mile radius, household and income profiles skew middle to upper-middle, and projections point to population growth and an expansion in households over the next five years — a setup that can enlarge the local renter pool and support occupancy stability.
The property’s 1992 vintage is newer than the neighborhood’s average building age (1960s era). That relative youth typically means stronger competitive positioning versus older stock, though investors should still plan for modernization of systems and common areas as part of medium-term capital planning.
Local amenities inside the immediate neighborhood are limited (few cafes, groceries, parks, or pharmacies by density), though restaurant availability is comparatively better than many suburbs. Average school ratings sit around the national midpoint. Relative to the Buffalo-Cheektowaga metro’s 301 neighborhoods, overall the area is above metro median on several livability metrics and competitive among peer suburban locations for workforce-oriented multifamily.
Safety indicators are mixed but generally favorable in comparative terms. Property-related offenses are in the top decile nationally for safer outcomes, while overall violent-offense levels trend better than many U.S. neighborhoods. These comparisons are based on national percentiles, where higher percentiles indicate safer conditions.
Recent year-over-year trends show some volatility in violent incidents, even as property offenses improved. Investors should underwrite with standard risk controls (lighting, access control, and resident screening) and monitor submarket-level crime trends versus the Buffalo-Cheektowaga metro’s 301 neighborhoods rather than block-by-block variation.
Nearby corporate offices support commuter convenience and a steady workforce renter base, anchored by healthcare, financial services, logistics, and life sciences employers noted below.
- McKesson — healthcare distribution corporate offices (0.8 miles)
- M&T Bank Corp. — financial services corporate offices (8.4 miles) — HQ
- FedEx Trade Networks — logistics corporate offices (11.1 miles)
- UnitedHealth Group — healthcare services corporate offices (12.9 miles)
- Thermo Fisher Scientifc — life sciences corporate offices (17.8 miles)
This 48-unit asset, built in 1992, offers relative competitiveness versus older neighborhood stock while remaining a candidate for targeted upgrades to enhance rentability and reduce near-term CapEx surprises. Neighborhood occupancy sits above the national median and rent levels track mid-market, indicating a balanced demand environment with manageable affordability pressure that can support retention and stable rent rolls.
Within a 3-mile radius, projections call for population growth and a meaningful increase in households, pointing to a larger tenant base over the next five years. Combined with proximity to diversified employers, the submarket should continue to support steady leasing. Based on CRE market data from WDSuite, ownership costs in the broader area are more accessible than high-cost metros, which can introduce some competition from for-sale options; however, professionally managed apartments with renovated interiors and on-site services typically maintain an advantage on convenience and turnover management.
- 1992 construction offers a newer profile than much of the surrounding stock, with targeted modernization driving competitive positioning.
- Neighborhood occupancy above national medians supports lease stability and predictable NOI.
- 3-mile projections indicate population and household growth, expanding the local renter pool.
- Proximity to diversified employers underpins workforce demand and retention.
- Risks: limited immediate amenities, potential competition from ownership options, and mixed but improving safety trends warrant prudent underwriting.