959 Broadway Buffalo Ny 14212Buffalo, NY 14212

This exceptional investment opportunity presents a well-maintained, 35-unit all-brick apartment building situated on a main thoroughfare in Buffalo, NY. The property boasts 51,443 square feet, encompassing five ground-floor commercial units with long-term tenants, twenty-seven two-bedroom units, and three one-bedroom units. Each unit is generously sized, enhancing desirability and ease of rental. Building amenities include coin-operated laundry on each floor generating supplemental income, and a fully functional electric elevator. Separate gas and electric utilities serve the entire building, while each unit features individual forced-air heating, a water tank, and a 100-amp electric panel. Substantial capital improvements have recently been completed, including upgrades to the elevator and electrical systems (now featuring a 3-phase 400-amp service). The spacious, LED-lit basement offers potential for future expansion or amenity additions. A separate parking lot at 697 Fillmore Ave is available for purchase. The property currently enjoys a 6.97% cap rate and a Net Operating Income (NOI) of $209,048, with significant revenue upside potential through planned rent increases to $1,000 per unit. Recent upgrades include new exterior gas meters and the property is compliant with all city inspections. The building is zoned N-3C and sits on a 0.44-acre lot. This stabilized multifamily investment offers a compelling return on investment with substantial future growth prospects. Detailed financial information is available upon request. The asking price is $3,000,000 ($85,714 per unit and $58.32 per square foot). Built in 1900, the four-story building is located at 959 Broadway, Buffalo, NY 14212.