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Joe Andriatch

joe@evolve716.com +1(716) 465-8063

$399,900

Est. payment - /mo

8 Beds

8 Baths

4,304 SqFt

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UPDATED:

Key Details

Property Type Multi-Family, Mobile Home

Sub Type Multi Family

Listing Status Pending

Purchase Type For Sale

Square Footage 4,304 sqft

Price per Sqft $92

MLS Listing ID B1704097

Style Fourplex

Bedrooms 8

Full Baths 4

Half Baths 4

Construction Status Existing

HOA Y/N No

Year Built 1979

Annual Tax Amount $6,439

Lot Size 0.520 Acres

Acres 0.52

Lot Dimensions 84X265

Property Sub-Type Multi Family

Property Description

Investor Alert! Brick four-unit with significant rental upside! Excellent opportunity to own a solid all brick four unit investment property in the Town of Lockport. Each unit offers an identical & desirable floor plan featuring 2 bedrooms, dining area, 1.5 baths, modern kitchen & modern bathrooms. Built in 1979, providing the added benefit of no lead-based paint concerns. Additional features include separate utilities , on-site coin-operated laundry, 2.5 car detached garage, patio, storage shed, blacktop driveway & ample off-street parking. The all-brick construction offers durability & low exterior maintenance, while the individual apartment layouts provide consistent and desirable rental units. Convenient Town of Lockport location near Transit Road, shopping, restaurants, schools, medical facilities, entertainment and major transportation routes. A compelling opportunity for the investor looking for existing income, solid brick construction and substantial rental-growth potential. The property is currently generating approximately $40,560.00 in annual rental income, while current market rents indicate the potential to achieve approximately $62,400 annually- an impressive $21,840 in additional gross annual rental income when the rents are brought to market. Several long-term tenants provide a strong foundation of rental history & stability. Increase the rents, increase the income and build long-term equity! Real Estate is about more than collecting rent-it's about building wealth, creating equity & owning an asset that can work for you for years to come. With separate income-producing units, current rental income and substantial room for future growth, this property gives an investor the opportunity to improve cash flow today while building long term equity for tomorrow.Opportunities to purchase a solid brick four-unit with this kind of upside don't come along everyday-this is one worth putting on your investment list. Secluded backyard with no rear neighbors. Spacious 2.5 car garage excellent storage & parking, complemented by a covered patio & open patio area. Storage shed provides convenient space for your riding lawnmower & other maintenance equipment.

Location

State NY

County Niagara

Area Lockport-Town-292600

Rooms

Basement Partial

Interior

Heating Baseboard, Electric

Cooling Wall Unit(s)

Flooring Carpet, Varies, Vinyl

Fireplace No

Appliance Electric Water Heater

Laundry Common Area

Exterior

Exterior Feature Balcony, Patio

Garage Spaces 2.5

Utilities Available Cable Available, Electricity Connected, Sewer Connected, Water Connected

Roof Type Asphalt

Porch Balcony, Open, Patio, Porch

Garage Yes

Building

Lot Description Near Public Transit, Rectangular, Rectangular Lot

Story 2

Foundation Poured

Sewer Connected

Water Connected, Public

Architectural Style Fourplex

Level or Stories Two

Structure Type Brick

Construction Status Existing

Schools

Elementary Schools George Southard Elementary

Middle Schools North Park Middle

High Schools Lockport High

School District Lockport

Others

Senior Community No

Tax ID 292600-138-000-0001-054-000

Acceptable Financing Cash, Conventional, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

Special Listing Condition Standard

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Listed by Howard Hanna WNY Inc. 716-691-5800

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Joe Andriatch

+1(716) 465-8063

Broker | License ID: 10311209306

Broker License ID: 10311209306

6335 Robinson RD Lockport, NY 14094

Joe Andriatch

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Nearby Locations

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