*INVESTOR OPPORTUNITY*5 UNIT APARTMENT BUILDING
5 UNIT APARTMENT BUILDING IN CEDAR GROVE HEIGHTS WITH ANNUALLY RENEWABLE 1-YEAR MOD-REHAB HUD CONTRACT THRU BELMONT HOUSING RESOURCES OF WNY*NEW OWNER WILL HAVE THE OPTION TO RENEW OR NOT EACH YEAR WITH NOTICE TO BELMONT EACH FEBRUARY* BUILDING IS COMPRISED OF 4-2BR UNITS RENTED @ $567/MONTH & 1-1BR UNIT RENTED @ $484/MONTH*GREAT LOCATION W/ MAINTENANCE FREE EXTERIOR,SEPARATE UTILITIES,NEW TEAR-OFF ROOF IN 2007 AND MANY OTHER RECENT IMPROVEMENTS*PARKING FOR 10 CARS IN PAVED LOT WITH STORAGE SHED*PRICED AT $219000 THIS BLDG IS SELLING FOR ONLY 6.63 TIMES ITS RENT ROLL,AT A CAP RATE OF 9.46% AND FOR ONLY $24,333 PER BEDROOM*INTERIOR PHOTOS ARE OF ONE OF THE 2 BR UNITS RECENTLY REFRESHED AND FILLED WITH BELMONT APPROVED AND SUPPORTED TENANT*
Property Details
| Listing ID: |
10751 |
| Status: |
EXPIRED/OFF-MARKET |
| Property Type: |
Multi-Family |
| Year Built: |
1941 |
| County: |
Erie |
| School District: |
Cleveland Hill |
| Taxes: |
$ 4,537.00 |
| Lot Size: |
134 x 73 |
