3-Property Portfolio

Three property portfolio now available in Buffalo NY. Owners prefer to sell together but will entertain offers on individual properties. 

433 Norwood:

Solid, very well cared for and updated (4) unit property in the heart of the Elmwood Village. The property is prominently situated on the corner of Norwood Avenue and Breckenridge St – a 3-minute walk to restaurants, retail, and other amenities along Elmwood, but nestled on a quiet, leafy residential side street. All units have been updated and improved by current owner. Building envelope and most building systems are new or updated, including newer furnaces, many replacement windows, and a newer tear-off roof. Property has no deferred maintenance and should require no CapX in the near future. Apartments are fully rented with no delinquencies. Most units are rented at or near market value, with the exception of the 3-bedroom unit which is substantially below market. The property ensures strong predictable income, plus latent potential for additional rental revenue.

1166 Abbott Rd:

Multi-family property with small office storefront on one of South Buffalo’s primary commercial corridors. Property is located a few blocks south of the famed Imperial Pizza, as well as a new out of the ground mixed-use development by one of the region’s largest developers. Property also abuts a large 1.15 acre parcel, that is well positioned for redevelopment. All units have been updated and improved by the current owner. Building envelope and most building systems are new or updated, including newer furnaces, many newer windows throughout, low-maintenance siding, newer metal roof, and a dry, concrete block foundation. Property has no deferred maintenance and should require no CapX in the near future. Property’s convenient access to the 1-90 interstate and 219 expressway provides convenient regional access for residential and commercial tenants, supported by (6) off-street parking spaces. One of property owner’s businesses occupies the office space – they can stay or relocate if preferred by new owner. Apartments are fully rented with no delinquencies. In-place rents are at market, ensuring strong predictable income for the next owner.

96 Mariemont Ave:

Clean, simple, fully remodeled (2) unit on solid South Buffalo Street. Constructed in the 1950’s the property features a solid concrete pour foundation, bone-dry basement, and overall straight forward maintenance-free structure. Units have been fully updated by current owner. Building envelope and most building systems are new or updated, including new furnaces, newer windows throughout, low maintenance siding, and newer tear-off roof. Property has no deferred maintenance and should require no CapX in the near future. Apartments feature open, appealing layouts. Both units are rented with no delinquencies. In-place rents are at or just below market, ensuring strong predictable income for the next owner.

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