Property Description

Fully leased seven-unit mixed-use building in the heart of the Elmwood Village, steps off Elmwood Avenue's shops, cafes and restaurants. Gut-renovated in 2022 into six modern apartments (three 1BR/1BA and three 2BR/1BA) over a ground-floor storefront leased to an art studio and gallery through 7/31/2027. Apartments feature hardwood floors, recessed lighting, updated kitchens with stainless appliances and tiled baths. Scheduled rent is $9,900/month ($118,800/year), and the apartments average $1,400 in place, below prevailing Elmwood Village rents, so there is upside as units turn. Separate gas and electric meters, tenants pay their own; the owner pays only water and sewer. Three stories on a 30 x 140 lot with a municipal parking lot next door. Turnkey income in one of Buffalo's most in-demand rental neighborhoods. Rent roll and operating statement available to qualified buyers. Tenant occupied: showings by appointment only with 24-hour notice.

Property Features

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