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1096 Elmwood Ave - 1096-1098 Elmwood Ave 6 Unit Apartment Building Offered at $1,399,000 Buffalo, NY 14222
INVESTMENT HIGHLIGHTS
- Dependable, cash flowing mixed use 6 unit property in the Elmwood Village
EXECUTIVE SUMMARY
Two solid commercial/apartment buildings located in one of the city’s best walkable neighborhoods which is home to some of the city’s most popular shops, bars & restaurants.
The front building consists of a well established fast food, sit down restaurant along with two - 4 bedroom apartments and a 2 bedroom apartment.
The rear building has two - 2 bedroom apartments along with a possible 3rd floor studio apartment/office that could be created with a fire escape installation in order to create a 7th income producing unit.
Building Highlights:
Never a vacancy in the 12 years of ownership
Four years +/- remaining on restaurant lease, with 5 yr option. Very consistent sales
Tenants pay gas & electric except for two apartments where owner pays electric
Roofs are 5-7 yrs old
Newer tankless hot water systems
Circuit breakers
Low maintenance vinyl siding
Public parking near by
Security systems
Washer/dryers in basement
Porches & balcony in rear building overlooking courtyard
Rents under market with great upside potential!
The front building consists of a well established fast food, sit down restaurant along with two - 4 bedroom apartments and a 2 bedroom apartment.
The rear building has two - 2 bedroom apartments along with a possible 3rd floor studio apartment/office that could be created with a fire escape installation in order to create a 7th income producing unit.
Building Highlights:
Never a vacancy in the 12 years of ownership
Four years +/- remaining on restaurant lease, with 5 yr option. Very consistent sales
Tenants pay gas & electric except for two apartments where owner pays electric
Roofs are 5-7 yrs old
Newer tankless hot water systems
Circuit breakers
Low maintenance vinyl siding
Public parking near by
Security systems
Washer/dryers in basement
Porches & balcony in rear building overlooking courtyard
Rents under market with great upside potential!
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,399,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $233,167 | Building Size | 4,841 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Year Built | 1915 |
| Price | $1,399,000 |
| Price Per Unit | $233,167 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | |
| Apartment Style | Mid-Rise |
| Building Size | 4,841 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1915 |
AMENITIES
UNIT AMENITIES
- Balcony
- Washer/Dryer
- Basement
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+1 | 2 | - | - |
| 2+1 | 3 | - | - |
| Studios | 1 | - | - |
1 1
Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (89)
PROPERTY TAXES
| Parcel Number | 140200-089-610-0004-009-000 | Total Assessment | $426,000 |
| Land Assessment | $47,900 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $378,100 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
140200-089-610-0004-009-000
Land Assessment
$47,900
Improvements Assessment
$378,100
Total Assessment
$426,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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1096 Elmwood Ave - 1096-1098 Elmwood Ave
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