8 Beds
4 Baths
4,550 SqFt
8 Beds
4 Baths
4,550 SqFt
Key Details
Property Type Multi-Family, Mobile Home
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 Avenue, featuring 4,550 sq. ft. and four spacious 2-bedroom, 1-bathroom apartments. Fully occupied with established tenants, generating $5,250/month ($63,000 annually) in gross rental income.
Current NOI: $56,600 | Current Cap Rate: 7.55%
Potential NOI: $60,200 | Potential Cap Rate: 8.03% with the addition of $300/month in garage rental income.
Three units rent for $1,300/month and one for $1,350/month. Separate utilities, with tenants paying gas and electric. Recent improvements include remodeled kitchens and bathrooms, updated flooring, windows, doors, lighting, appliances, and two replacement boilers.
Three units have basement laundry hookups, while Unit 2 has an in-unit laundry hookup. Additional features include a large detached 2+ car garage with a new roof and updated exterior, three rear parking spaces, and a newly redone blacktop driveway.
About 1,000 sq. ft. of attic space has potential for storage or future use, subject to approvals. Select units feature bonus amenities, including a sauna/hot tub, private balcony, fireplaces, and office/storage areas.
A well-maintained, turnkey, income-producing investment with strong occupancy, tenant-paid utilities, significant recent updates, off-street parking, and additional income potential.
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
Nearby Locations
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