Seneca Street Portfollio 2 biens | Immeuble residentiel | À vendre | 786 301 € | Buffalo, NY

This outstanding investment opportunity features a current net operating income of $72,896 at a 7.5% cap rate, valuing the property at approximately $971,947. The potential value is significantly higher (see attachments for details). The offering includes a total of 8 units, which can be purchased together. The property consists of two adjacent 4-unit buildings located at 1697–1699 and 1701–1703. The building at 1697–1699 received a tear-off roof in 2024. Both buildings share a rear parking area with 16 spaces, providing one reserved spot for each unit. The parking lot was created and blacktopped in 2021.
Each of the 8 units includes 2 bedrooms and 1 bathroom. Extensive updates have been made from 2019 to the present, with a complete list available in the attachments. All kitchens feature tiled backsplashes and updated cabinetry, while bathrooms have been renovated with tiled walls and showers. Every unit is equipped with newer kitchen appliances, including a stove and refrigerator, as well as newer washers and dryers. Additional improvements include updated flooring, lighting, and paint throughout the units. Multiple furnaces and hot water tanks have been replaced, and landscaping was refreshed in 2024.
The seller reports zero percent vacancy and no management costs over the past five years, indicating strong performance and potential for even higher net operating income.