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.
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