84 Mariner St, Buffalo, NY 14201

B’’H

Value-Add Multifamily Investment Opportunity

Mariner St, Buffalo, NY 14201

16 Units - 11,872 SF - Allentown Section 8 Property

Transformative Investment with Significant Upside

We present a rare chance to acquire a value-add multifamily property in Buffalo's vibrant Allentown neighborhood. This 16-unit property offers immense potential for renovation, repositioning, and increased cash flow.

Key Highlights:

- 16 units (8 units divided into two apartments each)

- Section 8 units providing stable, government-backed rental income

- Average rent per unit: $1,500/month

- Annual gross income: $288,000 (16 units x $1,500/month x 12 months)

- Net operating income (NOI): $208,000 (assuming 50% expense ratio)

- Cap rate: approximately 20.4% ($208,000 NOI / $1,018,000 purchase price)

- Prime location in Allentown, close to Buffalo's downtown and major attractions

Construction Budget:

- Total budget: $800,000

- Hard costs: $600,000 (renovations, materials, labor)

- Soft costs: $200,000 (permits, inspections, architectural fees, etc.)

Total Investment:

- Purchase price: $1,018,000

- Construction budget: $800,000

- Total investment: $1,818,000

Projected Returns (assuming rent increases to $1,650/month):

- Projected annual gross income: $316,800 (16 units x $1,650/month x 12 months)

- Projected net operating income (NOI): $238,400 (assuming 50% expense ratio)

- Projected cap rate: approximately 13.1% ($238,400 NOI / $1,818,000 total investment)

Take advantage of this chance to transform a property and capitalize on Buffalo's growth! Contact us to schedule a viewing and make this value-add opportunity yours!

Zuz Realty 917-873-8411