368 Spruce Ave

Niagara Falls NY 14301

2839 sq. ft.

11477 sq. ft.

Multi-Family

Currently for sale - view listing

Overview

Unlock Incredible Cash Flow at 368 Spruce Ave! Whether you are a seasoned investor looking for your next "cash cow" or a first-time buyer wanting to live for free while tenants pay your mortgage, this versatile multi-unit property in the heart of Niagara Falls is a must-see. Located within the coveted Niagara Falls short-term rental (Airbnb) zone, this property offers an elite opportunity to tap into the city’s thriving tourism market. Nature lovers and fitness enthusiasts will also appreciate being just a very short walk to the scenic Niagara Gorge bike path. The building currently features a high-demand layout consisting of two spacious 2-bedroom units and one 1-bedroom unit. Investor's take note: Unit 1 offers an incredible "value-add" opportunity, as it can easily be converted into two separate 1-bedroom units to maximize your door count and monthly rental yield. The property has been thoughtfully maintained, featuring a brand-new boiler system, ensuring lower maintenance costs for years to come. With nearly all units delivered vacant, you have the rare advantage of setting your own market rents from day one or moving into your preferred suite immediately. Situated on a generous lot with a 1-car garage and carport. Boasting natural woodwork and a solid foundation with high ceilings, this property is perfectly positioned to be a top-performer in your portfolio. Don't miss this chance to own a high-cap rate asset in an area of steady demand.

Features

5 bedrooms

4 bathrooms

1 carspace

1 garage space

2839 sq. ft. floor area

11477 sq. ft. lot size

Multi-Family

Property history for 368 Spruce Ave

2020

Sold

$106,000

03 Dec 2020 by Jack Russo, of Towne Housing Real Estate

2016

Sold

$45,000

18 Mar 2016 by Michael Cicero, of Hunt Real Estate ERA

Happy sellers in Niagara Falls

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