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616 Chestnut Ave

Niagara Falls NY 14305

4
6480 sq. ft.
6250 sq. ft.
Multi-Family
Currently for sale - view listing

Overview

ATTENTION INVESTORS!!! Rare investment opportunity in the highly desirable Deveaux area of Niagara Falls. This well-maintained, fully rented, 6-unit apartment building offers immediate cash flow with significant upside potential. The all-brick building features six apartments spread over three floors, with two units on each level. The first floor includes two studio apartments, while the upper floors offer four spacious two-bedroom units. The units have been recently painted and feature newer flooring, making them attractive to tenants. Six separate electric meters allow tenants to pay their own electric, while heat and water are included in the rent. Shared coin-operated laundry on the second floor generates additional income. Current rents are below market value, providing an excellent opportunity for increased cash flow. There is potential for a 7th unit, adding even more value to this income-producing property. Ideally located just minutes from Niagara University, Seneca Niagara Casino, Bridges to Canada, and the breathtaking Niagara Gorge with miles of scenic walking and biking trails. A large 6+ car parking area, along with additional street parking, provides ample convenience for tenants. Whether you're looking to expand your investment portfolio or capitalize on a value-add opportunity, this property offers location, income, and tremendous future potential. This one won't last long!!

Features

4 bedrooms
6480 sq. ft. floor area
6250 sq. ft. lot size
Multi-Family

Property history for 616 Chestnut Ave

2016
Sold
$154,000
08 Mar 2016 by David Stefik, of Stefik Realty Co, Inc

Happy sellers in Niagara Falls

<50%
Less than 50% of sellers in Niagara Falls reported that their sale price either exceeded or met their price expectations.

Niagara Falls stands out as a desirable suburb for sellers, consistently delivering great customer service and strong market results for homeowners.

This is based on voluntary sentiment collected from 4 reviews in Niagara Falls over the last 12 months.

Local market activity for 4 bedroom multi families in Niagara Falls

In the last 12 months, 12 four-bedroom multi families similar to 616 Chestnut Ave, have been sold.

This represents a 50% decrease in four-bedroom multi families sales when compared to the previous 12 months.

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Sales:
(619) 566-0008
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