This is a unique opportunity to purchase a large two apartment multi-family home in Buffalo New York in Riverside Park, one of the best areas in Buffalo. This property has been updated throughout by one of the leading Buffalo building companies. On the ground floor you have a large two bedroom apartment, then upstairs you have another large two bedroom apartment, both apartments are tenant occupied by great tenants paying a total of $15,600 rent a year. This property is under management by one of the leading Buffalo property management companies.
This property is located in Riverside Park which is a great family area in Buffalo. The location of this property is perfect for long term renting as it is close to the main river leisure facilities for Buffalo and also just a very short distance from Downtown Buffalo.
• Four bedrooms.
• 2,024 sqft built.
• 3,675 sqft lot.
• Fully managed.
• Two apartments.
• Local staff.
Purchase price: $79,000
Gross annual rental income: $15,600
Property running costs: $4,724 (Tax, insurance and management costs)
Net annual rental income: $10,876
Investment calculation - Net Income divided by Purchase price = NET ROI.