TURNKEY 4-UNIT INVESTMENT PROPERTY | FULLY OCCUPIED | $63,000 CURRENT ANNUAL RENT | EXTENSIVELY UPDATED
Excellent opportunity to acquire an extensively updated 4-unit multifamily property on Hertel Ave. in Buffalo. The approximately 4,550 sq. ft. building features four spacious 2-bedroom, 1-bath apartments , all currently occupied by established tenants.
Current rental income is $5,250 per month, or $63,000 annually . Three apartments currently rent for $1,300 per month , while one apartment rents for $1,350 per month . Stabilized tenancies are in place across all four units , with most apartments operating under lease agreements, providing an investor with income in place from day one.
UNIT-SPECIFIC FEATURES Apartment 1: Bathroom features an integrated fan/speaker system with nightlight and daylight settings , along with a slate-stone electric fireplace .
Apartment 2: Features a bonus room with a sauna and hot tub , providing a distinctive amenity that sets this unit apart.
Apartment 3: Features a private balcony and a living room with wall-to-wall cabinetry, glass shelving, a fireplace mantel, and an electric fireplace .
Apartment 4: Features a bonus storage room/office space and RGB LED recessed lighting in the kitchen and bathroom .
All four apartments have separate utilities , with tenants responsible for their own gas and electric. This helps keep operating expenses predictable for the owner.
The apartments have been substantially remodeled and well 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 , providing a significant recent capital improvement.
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 it a clean, finished appearance. The garage is currently being prepared for rental and is anticipated to generate approximately $300 per month in additional income once leased.
The property also features three rear parking spaces and a newly redone blacktop driveway .
This is an excellent opportunity for an investor seeking a fully occupied, income-producing 4-unit property with established rents, stabilized tenancies, extensive updates, recent mechanical improvements, separate tenant-paid utilities, distinctive unit-specific amenities, a substantially improved detached garage, parking, and additional income potential .