This is a rare opportunity to purchase a huge brick multi-family home in New York State. Triplex multi-family homes do not come on the market very often in New York State especially ones made out of brick.On the ground floor you have a large two bedroom apartment, then upstairs you have another two bedroom apartment plus a one bedroom apartment, all three apartments are currently occupied by new tenants. This property was only recently updated, the work was carried out by one of the largest builders in Niagara Falls. This house is already under management by one of the leading Niagara Falls management companies.
This property is located in Zip Code 14303, which is a very desirable area in Niagara Falls. It is very close to the Hyde Park Municipal Golf Course which is the main golf course in Niagara, it is also close to great schools and colleges.
Purchase price: $57,500
Gross annual rental income: $16,140
Property running costs: $4,974
(Tax, insurance and management costs)
Net annual rental income: $11,166
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 20%