$1,000,000
$1,100,000
9.1%For more information regarding the value of a property, please contact us for a free consultation.
9 Beds
14,119 SqFt
SOLD DATE : 02/16/2024
Key Details
Sold Price $1,000,000
Property Type Multi-Family
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 14,119 sqft
Price per Sqft $70
MLS Listing ID B1504660
Sold Date 02/16/24
Bedrooms 9
Construction Status Existing
HOA Y/N No
Year Built 1920
Annual Tax Amount $12,557
Lot Size 5,871 Sqft
Acres 0.1348
Lot Dimensions 44X132
Property Sub-Type Other
Property Description
Explore an investment opportunity in the heart of Buffalo's thriving West Side, where significant developments are fueling growth. Nestled on Niagara Street witness the 'Niagara Street Now' project, a monumental streetscape redesign by the City of Buffalo, setting the stage for the area's resurgence. Rich Products is at the helm of constructing a major film and TV studio complex (1.3 miles), promising to drive economic activity. D'Youville College (0.1 miles) from this site, has committed hundreds of millions for campus improvements, including a forthcoming $100M academic center. This property features an 8-unit mixed-use brick building (w/ 2 retail spaces) at the corner of Niagara/Jersey St, along with the adjacent 3-unit building at 181 Jersey St totaling 11 total rentable spaces. The property currently enjoys full occupancy, yielding an impressive ~$120k in top-line revenue and being marketed at a TRUE 6.37% cap rate.Rental rates for the 'tenanted' spaces are below market, offering room for favorable adjustments. Join the growth trajectory and capitalize on the promising market dynamics and position for attractive returns. Don't miss your chance to be part of Buffalo's future!
Location
State NY
County Erie
Area Buffalo City-140200
Direction Directly on Niagara St and Jersey
Rooms
Basement Full
Interior
Heating Gas, Baseboard, Forced Air
Flooring Hardwood, Varies, Vinyl
Fireplace No
Appliance Gas Water Heater
Exterior
Community Features Other, See Remarks
Utilities Available Sewer Connected, Water Connected
Roof Type Asphalt,Flat
Garage No
Building
Lot Description Near Public Transit
Story 2
Sewer Connected
Water Connected, Public
Level or Stories Two
Structure Type Brick
Construction Status Existing
Schools
School District Buffalo
Others
Senior Community No
Tax ID 140200-099-830-0006-031-000
Acceptable Financing Cash
Listing Terms Cash
Financing Conventional
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!

Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Keller Williams Realty WNY
Broker Associate | License ID: 10301219405
+1(315) 430-0030 | celeste.ccgrealty@gmail.com