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405 Prospect Avenue
Buffalo, NY 14201

Multifamily in Front Park / Buffalo / NY / 14201

$525,000

20% Min Down
Entire Building
7,933 Sqft
$66 / Sqft
Listed Jan 24th, 2021, Built in 1900
Showsheet
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Common Charges
$0
Property Taxes
$9,351
Mortgage
$1,945
Total Monthly Payment
$11,296
Est. Rental Income
$795
Cap Rate
-19.56%
HopScore Analysis
HopScore Market Price:
$530,250
Difference from Asking Price:
$5,250
Closest Comparable:
None Found
Description
Showings start on January 30th and 31st from 1:00pm-3:00pm (must make appointment). All brick 6 unit building located in historic and architecturally charming West Side neighborhood one block from Niagara Street and a few blocks from D'Youville College. 405 Prospect is two buildings (front building 4 units, back building 2 units) with a newer tear off architectural shingle roof. Gas and electric is included in only 2 of the apartments, the other 4 units have separate gas and electric utility expenses maintained by existing tenants. The front building is well built with a strong stone basement and back house is slab on grade, mechanically the home features newer forced air units and hot water tanks, with circuit breakers, some new plumbing and mostly new vinyl windows. This building has been managed by the same owner since 2004 and shouldn't have a ton of deferred maintenance. Coin-op laundry in the basement. Rents can be increased with cosmetic upgrades to make this investment worth your time and energy, however the property is existing and performing in its current state. The potential gross income is $59,940 (all actual rents besides vacant unit) and net income is $38,684.85.

The manager has listed the unit size as 7933 square feet.
Features & Amenities
Dishwasher
Dryer
Oven - Gas
Refrigerator
Washer
Exterior: Brick
Forced Air
Floor Coverings: Carpet, Hardwood, Laminate, Tile
Listed By
Nicholas Giambra
(716) 239-6432
Keller Williams Realty Buffalo Northtowns
Price History
Date Event Price Source
2021-03-07 Status Change Relisted Listing Records
2021-03-03 Status Change Off Market Listing Records
2021-02-21 Status Change Relisted Listing Records
2021-02-09 Status Change Off Market Listing Records
2021-01-24 Listed $525,000 Listing Records
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Nearby Schools

(within attendance boundary)
MARTIN LUTHER KING JR #48  •  1.89 mi
487 High St, Buffalo, NY 14211
Public  •  Elementary  •  Grades PK to 2
Buffalo City School District
780 Parkside Ave, Buffalo, NY 14216
Public  •  Middle School  •  Grades 6 to 8
Buffalo City School District
10 Delaware Ave, Buffalo, NY 14202
Public  •  High School  •  Grades 6 to 12
Buffalo City School District
School zoning information and other data are provided by RealtyHop Schools and 3rd party sources. The contents of the database are not guaranteed to be accurate or timely. Contact the schools or districts before making any decisions using on this data.
Room By Room Floorplans and Photos
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Comparable Apartments for Rent
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