630 Hertel Avenue, Buffalo, NY 14207

Property Description

TURNKEY 4-UNIT MULTIFAMILY | FULLY OCCUPIED | $63,000 ANNUAL GROSS RENT l NO CAPEX 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