Orchard Park food broker Charlie Dunham has acquired a pair of Southtowns apartment complexes from a Niagara Falls property manager, paying $1.295 million in all for 42 units in Holland and Delevan.
Dunham bought a 30-unit complex at 30 Knox Drive in Holland and a 14-unit on 53 Grove St. in Delevan, both owned by Apartments Niagara LLC through Holland-Delevan LLC.
The Holland property was valued at $788,700, according to Erie County Clerk records, and Evans Bank provided the financing, according to brokers Chris and Gary Greco, who represented the seller and buyer, respectively.
Dunham now plans to spend at least $250,000 more to upgrade and remodel the properties, which currently have about 12 vacancies.
“We’re going to refurbish them all,” he said. “They’ve been a little bit in rough repair, and they needed to be completely remodeled to bring them up to date and up to code.”
Dunham, whose business represents Sugar Dale Foods of Canton, Ohio, owns several other apartment buildings and mobile home parks in the area, mostly in the Southtowns, in Boston, Holland, Orchard Park and now Delevan, with a total of about 250 units.
Apartments Niagara operates 16 other apartment buildings in Niagara Falls, the town of Niagara, Lewiston, Grand Island, Buffalo and Jamestown.