Showings start on January 30th and 31st from 1:00pm-3:00pm (must make appointment). All brick 6 unit building located in historic and architecturally charming West Side neighborhood one block from Niagara Street and a few blocks from D'Youville College. 405 Prospect is two buildings (front building 4 units, back building 2 units) with a newer tear off architectural shingle roof. Gas and electric is included in only 2 of the apartments, the other 4 units have separate gas and electric utility expenses maintained by existing tenants. The front building is well built with a strong stone basement and back house is slab on grade, mechanically the home features newer forced air units and hot water tanks, with circuit breakers, some new plumbing and mostly new vinyl windows. This building has been managed by the same owner since 2004 and shouldn't have a ton of deferred maintenance. Coin-op laundry in the basement. Rents can be increased with cosmetic upgrades to make this investment worth your time and energy, however the property is existing and performing in its current state. The potential gross income is $59,940 (all actual rents besides vacant unit) and net income is $38,684.85.
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