52 Locust St Buffalo, NY 14204

Property Details for 52 Locust St

Year built

1910

Lot size

0.07 lot acres

Property size

5,760 SF

Property type

Commercial real estate

Description

This exceptional multifamily investment property, located at 52 Locust St in Buffalo, NY, presents a compelling opportunity for both seasoned investors and owner-occupants. The property consists of two buildings, totaling 5,760 square feet, situated on a 0.07-acre lot. Built in 1910, the two-story structures offer five spacious rental units, with three currently occupied, generating immediate cash flow. The pro-forma net operating income (NOI) is $31,778, resulting in an attractive pro-forma cap rate of 8.15%. The asking price is $389,900. This property offers significant potential for increased revenue through raising rents in the currently vacant units and further property improvements. The property's location in Buffalo, NY, within Erie County, zip code 14204, provides access to a strong rental market. The current 60% occupancy rate presents a clear path to maximizing returns. This is a rare opportunity to acquire a well-located, income-producing multifamily property with significant upside potential. The property's solid foundation and established rental history make it an ideal addition to any investment portfolio. Don't miss this chance to secure a valuable asset in a thriving market.