Description
Investor special with A+ location overlooking the Niagara River, with approximately $50,000 in net operating with a 100% occupied building with an on site manager. This property is currently operating as a profitable "rooming house" with an opportunity to acquire surrounding sites and control a block of real estate in Tonawanda, overlooking the water, with no height restrictions in the building code, with ability to build 40,000 SF floor plates, in an opportunity zone, and potential brownfield tax credits. This parcel includes 2 buildings, consisting of 5 apartments and 12 rooms and consistently maintains 91% occupancy. The property also consists of 2 garages one attached and one detached and is mechanically sound! Potential Gross Income: $79,780.00. Gross Expenses: $25,271.79. Net Income: $47,194.21. 24 hr notice required for showings. Also listed as MLS#B1389912. Please include Attachment B to the listing agreement when submitting an offer.
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0BEDS
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0.36ACRES
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0BATHS
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01/2 BATHS
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6,878SQFT
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$55$/SQFT
Description
Investor special with A+ location overlooking the Niagara River, with approximately $50,000 in net operating with a 100% occupied building with an on site manager. This property is currently operating as a profitable "rooming house" with an opportunity to acquire surrounding sites and control a block of real estate in Tonawanda, overlooking the water, with no height restrictions in the building code, with ability to build 40,000 SF floor plates, in an opportunity zone, and potential brownfield tax credits. This parcel includes 2 buildings, consisting of 5 apartments and 12 rooms and consistently maintains 91% occupancy. The property also consists of 2 garages one attached and one detached and is mechanically sound! Potential Gross Income: $79,780.00. Gross Expenses: $25,271.79. Net Income: $47,194.21. 24 hr notice required for showings. Also listed as MLS#B1389912. Please include Attachment B to the listing agreement when submitting an offer.
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Listing information © 2022 CNYIS, GENRIS, WNYREIS. Listing provided by Ryan Burke of Keller Williams Realty Wny : 716-832-3300.