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  • 8
  • New York
Price £26,846
  • title image

Property Description

171 Landon St, Buffalo, NY 14208 is a substantial fully tenanted property located in the popular Kingsley district. Officially a duplex, the property is currently arranged as 3 apartments.

The property totals 2,156 square feet on a lot of 3,360 square feet. The accommodation presently comprises a ground floor 3 bedroom apartment, a first floor 3 bedroom apartment and a 2 bedroom loft unit.

The upper floor and loft space units currently share the same utilities (electric, furnace and water) and are let to a brother and sister. In the future it may be worthwhile splitting the utilities to enable individual letting to different people.

The present arrangement is ideal and maximises the potential income from the property. In the future it may be necessary to rent out the first floor and attic as one combined unit unless two family members can be found for a similar deal. In this situation, the net yield would be around 21%. There is nothing to suggest the current tenants will be moving out in the foreseeable future but it is something which should be born in mind for the future. There is always the option of separating the utilities. Please contact us if you would like a more detailed explanation in respect of the above.

The ground floor unit is already tenanted also.

Recent improvements to the property include a new roof, new windows, 1 new furnace and new flooring. Within the sales price, the second furnace will be replaced and the whole exterior of the property will be repainted. This will be completed in the next 7 to 10 days prior to the closing of any sale. Numerous photos are available on request.

This property is priced to sell now so if you are interested, please contact us as soon as possible.

Unlike many of our competitors, we take into account all closing and ongoing costs to give you a genuine net yield!



KEY FIGURES:



Purchase price: $42,000



Closing costs: $2,500



TOTAL OUTLAY: $44,500



RENTAL INCOME: $15,900 per annum



OUTGOINGS:



PROPERTY TAXES: $750



Water: $600



Insurance: $600



Management: $1,230



TOTAL OUTGOINGS: $3,180



NET INCOME: $12,720



THE NET YIELD IS THEREFORE A FANTASTIC 28.58%

For further information or to reserve this property, please complete the enquiry form as soon as possible.

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