614 Lafayette St Jamestown, NY 14701

Property Details for 614 Lafayette St

Year built

1910

Lot size

0.09 lot acres

Property size

2,730 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity encompasses eleven residential units spread across five strategically located properties in the vibrant city of Jamestown, New York. The portfolio includes addresses at 614-616 Lafayette Street, 49 Liberty Street, 1128 North Main Street, 110 Charles Street, and 11 Delaware Avenue, offering a diversified holding within a single transaction. The combined total square footage across all properties is 2,730 square feet, situated on a 0.09-acre lot. All eleven units are currently occupied, generating immediate and consistent income with a strong potential cap rate. Tenants are responsible for their own utilities, minimizing operational overhead for the owner. The properties have recently undergone extensive renovations estimated at nearly $300,000, significantly enhancing their value and appeal. Combined property taxes for all five properties are included in the asking price of $625,000. This turnkey investment presents a rare opportunity to acquire a well-maintained, high-occupancy multifamily portfolio in a growing market. The substantial recent renovations minimize immediate capital expenditure needs, allowing for a swift return on investment. This is an ideal opportunity for both seasoned investors and those seeking to diversify their real estate holdings. The strong tenant occupancy and low operational costs make this a compelling proposition for long-term growth and passive income generation.