616 Chestnut Avenue
Property Description
ATTENTION INVESTORS!!! Rare investment opportunity in the highly desirable Deveaux area of Niagara Falls. This well-maintained, fully rented, 6-unit apartment building offers immediate cash flow with significant upside potential. The all-brick building features six apartments spread over three floors, with two units on each level. The first floor includes two studio apartments, while the upper floors offer four spacious two-bedroom units. The units have been recently painted and feature newer flooring, making them attractive to tenants. Six separate electric meters allow tenants to pay their own electric, while heat and water are included in the rent. Shared coin-operated laundry on the second floor generates additional income. Current rents are below market value, providing an excellent opportunity for increased cash flow. There is potential for a 7th unit, adding even more value to this income-producing property. Ideally located just minutes from Niagara University, Seneca Niagara Casino, Bridges to Canada, and the breathtaking Niagara Gorge with miles of scenic walking and biking trails. A large 6+ car parking area, along with additional street parking, provides ample convenience for tenants. Whether you're looking to expand your investment portfolio or capitalize on a value-add opportunity, this property offers location, income, and tremendous future potential. This one won't last long!!
Broker Details
Keller Williams Realty Buffalo Northtowns (716) 832-3300
MLS ID: FIDELIDA State License Number: 10401268824
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $299,900 |
| No. of Units: | 6 |
| Year Built: | 1970 |
| Lot Size: | 6,480.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $49,983 |
| Property Website | Click Here |
| Number of Bedrooms: | 4 |
| Number of Bathrooms: | 0 |
ID: 3yd-BNARNY-B1692496
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