Colvin Avenue Apartments
Remodeled apartments with hardwood floors and updated kitchens and baths
Brick building in excellent condition
North Buffalo location along Hertel Avenue retail corridor
Nearby is the State University of NY at Buffalo south campus
Seller will consider holding part of the mortgage for a quick close
All city inspections current
Property Description
12 apartments in a three-story brick building in densely populated north Buffalo. The apartments are one-bedroom and share an identical layout with one-bath and open up from a central three floor staircase. All the apartments have been remodeled including hardwood floors and updated kitchens with new appliances, Rent includes water, garbage, hot water, heat, internet. The building is in excellent condition; the windows have been previously replaced; the flat roof is approximately 15 years old. Seller will consider holding part of the mortgage for a quick close. Colvin Avenue north of the intersection with Hertel Avenue in north Buffalo,
Key Property Information
| Listing Status: | Available |
|---|---|
| Property Types: | Apartment Buildings |
| Price: | $1,750,000 |
| No. of Units: | 12 |
| Cap Rate: | 6.6% |
| Year Built: | 1940 |
| Building Size: | 8,640 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $145,833 |
Unit mix
| Description | No. of Units | Sq ft. | Avg. Monthly Rent |
|---|
FINANCIAL DETAILS
| Income/expense info: | Pro Forma |
|---|---|
| Financial year: | 2026 |
| Gross income: | 166620 |
| Effective Gross income: | 168181 |
| Operating expenses: | 51838 |
| Net operating income: | 116343 |
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