UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,550 sqft
Price per Sqft $164
MLS Listing ID B1717451
Style Fourplex
Bedrooms 8
Full Baths 4
Construction Status Existing
HOA Y/N No
Year Built 1904
Annual Tax Amount $4,113
Lot Size 5,183 Sqft
Acres 0.119
Lot Dimensions 38X136
Property Sub-Type Multi Family
Property Description
Extensively updated 4-unit multifamily property on Hertel Ave., with 4,550 sq. ft. with four spacious 2-bedroom, 1-bath apartments. The property is fully occupied with established tenants and currently generates $5,250/month in gross rental income, or Est.$63,000 annually.after Est. exp:$6,400 Est. NOI; $56.600 Pontential Cap. Rate 7.55
Three units are currently rented at $1,300/month, while the fourth rents for $1,350/month.
All units feature separate utilities, with tenants responsible for gas and electric. Recent capital improvements include remodeled kitchens and bathrooms, updated flooring, windows, doors, lighting, and appliances, along with two replacement boilers. Appliances have also been recently replaced throughout the property.
Three apartments with separate basement laundry hookups, while Unit 2 features an in-unit laundry hookup.
Additional property features include a large detached 2+ car garage with a new roof and updated exterior, $300/month in potential additional rental income. The property also includes three rear parking spaces and a newly resurfaced blacktop driveway.
The attic provides 1,000 sq. ft. of additional space, potential for storage or future use, subject to applicable approvals.
Several units feature desirable bonus spaces and upgraded amenities, including a sauna/hot tub, private balcony, fireplaces, office/storage areas, and upgraded lighting.
This is a well-maintained, turnkey, income-producing property with strong occupancy, tenant-paid utilities, substantial recent capital improvements, off-street parking, a detached garage, and additional income potential.
Current Gross Rental Income: $5,250/month
Annual Gross Rental Income: $63,000
Fully Occupied | Tenant-Paid Utilities | Recent Capital Improvements
Location
State NY
County Erie
Area Buffalo City-140200
Direction Elmwood or Niagara to Hertel
Rooms
Basement Full
Interior
Heating Gas, Forced Air
Flooring Laminate, Varies
Fireplace No
Appliance Gas Water Heater
Exterior
Garage Spaces 2.0
Utilities Available Sewer Connected, Water Connected
Garage Yes
Building
Lot Description Irregular Lot, Near Public Transit, Residential Lot
Story 2
Sewer Connected
Water Connected, Public
Architectural Style Fourplex
Level or Stories Two
Structure Type Vinyl Siding,Wood Siding
Construction Status Existing
Schools
School District Buffalo
Others
Senior Community No
Tax ID 140200-077-680-0003-022-000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
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