FOR SALE

Newly remodeled 6 unit Investment Property in the Elmwood Village

537 West Ferry Between Elmwood Ave and Richmond Ave Buffalo NY

 Building Size:           3347 sq. ft.

Lot Size:                     32 x 122

 Features:

• 6 one bedroom apartments, 5 completely expertly renovated
• 24 new replacement windows
• Full occupancy
• Will deliver with updated Certificate of Occupancy
• Hard wired smoke detectors and sprinkler system

537 W Ferry

Between Elmwood Ave and Richmond Ave Buffalo NY

Pro Forma Income & Expense Statement

 Income:

Apt 1                        $  650

Apt 2                        $  600

Apt3                         $  525 (long term tenant) could be $675

Apt 4                        $  675

Apt 5                        $  625

Apt 6                        $  540

Monthly Income                       $3615

Annual Income                       $43,380.00

Expenses:

County Taxes         $  475.32

City Taxes              $3276.42

Sewer                     $  177.21

Water                      $  699.24

User Fees               $  221.64

Sprinkler                  $  349.16

Insurance                $1350.00

Electric                    $  480.00

Gas                          $3769.24

Repairs & Maintenance 5%      $2169.00

Management 5%      $2169.00

Vacancy 5%              $2169.00

Total Expenses         $17,305.23

NOI             $26,074.77

Sale Price                     $299,000

Capitalization Rate        8.7%