| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Good |
| Demographics | 55th | Fair |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 72 Oakridge Dr, West Seneca, NY, 14224, US |
| Region / Metro | West Seneca |
| Year of Construction | 1987 |
| Units | 104 |
| Transaction Date | 2016-07-12 |
| Transaction Price | $6,216,500 |
| Buyer | Tzeto Companies |
| Seller | Santo & Joseph Bueme |
72 Oakridge Dr West Seneca Multifamily Investment
Neighborhood occupancy trends sit above the metro median, pointing to steady leasing prospects for this 1987, 104-unit asset, according to WDSuite’s CRE market data.
West Seneca is a suburban location within the Buffalo-Cheektowaga metro where neighborhood occupancy is above the metro median and stronger than the national average, supporting income stability for well-managed assets. Rents benchmark near national norms, and the rent-to-income profile indicates manageable affordability pressure, which can aid tenant retention and measured pricing power for owners.
Construction in the surrounding neighborhood skews older than this property (average vintage around the early 1960s), so a 1987 build offers relative competitiveness versus older stock. Investors should still underwrite targeted system upgrades or light modernization to sustain positioning against renovated comparables.
Amenities within the immediate neighborhood are limited, though restaurant density is competitive versus many U.S. suburbs. Average school ratings track close to national midpoints, which, combined with suburban household patterns, supports a stable renter base for workforce-oriented units.
Demographic statistics within a 3-mile radius indicate a flat-to-slightly-declining population in recent years but a projected increase in households over the next five years, signaling a potential expansion of the renter pool and support for occupancy stability. Owner-occupied housing remains prevalent, and a moderate share of renter-occupied units suggests a steady, not transient, multifamily demand base in this part of Erie County.
Safety indicators compare favorably to national benchmarks on several measures. Property offense rates track in the top decile nationally, while violent offense metrics read safer than average compared with U.S. neighborhoods overall. Recent year-over-year readings show a notable decline in property offenses but an uptick in violent offenses, so investors should monitor trend direction alongside local enforcement and community initiatives.
At the metro level, these results position the neighborhood as competitive among Buffalo-Cheektowaga areas, with a generally stable safety profile for suburban product. As always, underwrite with block-level diligence and time-of-day observations to validate leasing and operations assumptions.
Proximity to regional employers supports renter demand through commute convenience and diversified job bases, including healthcare, financial services, logistics, and life sciences. The following employers anchor the area and can contribute to leasing stability.
- McKesson — healthcare distribution (0.8 miles)
- M&T Bank Corp. — banking services (8.4 miles) — HQ
- FedEx Trade Networks — logistics & brokerage (11.1 miles)
- UnitedHealth Group — healthcare services (12.9 miles)
- Thermo Fisher Scientific — life sciences (17.8 miles)
The 1987-vintage, 104-unit property at 72 Oakridge Dr benefits from neighborhood occupancy that sits above the metro median and national averages, supporting consistent leasing and cash flow visibility. Relative to an older surrounding stock, the asset’s vintage provides a competitive baseline, with selective modernization likely to enhance performance versus renovated peers. Based on CRE market data from WDSuite, rent levels align near national medians and rent-to-income dynamics suggest manageable affordability pressure, which can aid retention while allowing disciplined rent growth.
Within a 3-mile radius, recent population trends have been broadly stable, and forecasts indicate growth in household counts — a signal of a larger tenant base and durable demand for multifamily housing. Owner-occupancy remains high in this suburban node, which can temper new-renter churn while nearby employment centers in healthcare, finance, logistics, and life sciences help underpin leasing fundamentals.
- Above-metro neighborhood occupancy supports income stability and lease renewal rates.
- 1987 vintage is newer than much of the area’s stock, with potential value-add via targeted upgrades.
- Rent-to-income dynamics near national medians provide room for disciplined pricing and retention management.
- Household growth within 3 miles points to a larger renter pool and supports occupancy over time.
- Risks: limited immediate amenities, competition from ownership options, and mixed safety trends warrant conservative underwriting.