630 Hertel Avenue, Buffalo, NY 14207

Property Description

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