Property Description

Turnkey 4 unit investment property fully occupied. $63,000 Current annual rent. Extensively updated. Excellent opportunity to acquire an updated 4 unit multifamily property on Hertel Ave in Buffalo. The 4,550 sq. ft. building features four spacious 2 bedroom, 1 bath apartments currently occupied by tenants who consistently pay their rent. Current rental income $5,250/month $63,000/Year. Three apartments currently rent for $1300/month and one apartment rents for $1350/month. Most apartments have lease agreements providing investor with established rental income from day one. All apartments have separate utilities with tenants responsible for their own gas and electric. This provides an investor with excellent control of operating expenses. The apartments have been substantially remodeled and maintained, including updated kitchens, bathrooms, flooring, windows, doors and appliances. Two apartments received new refrigerators, stoves and microwaves last year while the other two apartments received new refrigerators, stoves and microwaves this year. Major mechanical improvements include two boilers replaced last year. The property also includes a large detached 2+ car garage with a brand-new roof. The entire exterior of the garage has been completely updated and freshly painted giving the garage a clean finished appearance. The garage is currently being prepared for rental and is anticipated to generate $300/month in additional income once leased. The property has three rear parking spaces and a newly redone blacktop driveway.

Property Features

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