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If you're looking for a prime investment opportunity or a chance to embrace the house hacking...
Rare Owner-Occupied Investment Opportunity in one of Buffalo's Premier Neighborhood's
The Giambra Team would love the opportunity to show you the property and explain the opportunity in more detail. For more information contact the listing agent, Joseph Strano at joseph.strano@giambrateam.com or 716-445-0574.
Register For Open Houses Saturday 3/8 from 11:00am-1:00pm & Sunday 3/9 from 11:00am-1:00pm
Location, Location, Location
Situated at 193 Norwood Avenue in the heart of Buffalo's sought-after Elmwood Village, this property is merely two blocks away from the lively Elmwood Strip, known for its diverse array of shops, eateries, and cultural attractions. The area is celebrated for its tree-lined avenues, historic residences, and pedestrian-friendly environment. Positioned on one of Buffalo's most historic and architecturally notable streets, this carefully renovated 3,850 square foot multi-family property provides an ideal combination of comfortable primary living and dependable investment income.
Income-Producing Property with Desirable Owners Unit
The owner's unit boasts a spacious two-story design with three bedrooms and two full bathrooms, perfect for an owner-occupant aiming to minimize living expenses. It can generate $2,500 per month, if operated as a rental unit. Additionally, there are two one-bedroom, one-bath apartments that offer significant rental income to help offset monthly mortgage and interest payments. These one-bedroom units are currently rented at $1,250 each, bringing in a total of $5,000 per month. Each unit has its own utilities (electric and gas), individual heating systems, and hot water tanks.
Extensive Renovations Since 2013
The current owner has invested over $200,000 in comprehensive improvements. These include a new roof, modern HVAC systems, updated hot water tanks, new sump pump, freshly poured driveway and parking pad, two new automatic garage doors, professional landscaping, and premium flooring throughout. This property offers a proven rental history with excellent tenant retention. Its prime location ensures continuous demand, while its low-maintenance condition minimizes owner involvement. Separate utilities keep owner expenses down, and the ample off-street parking is a rare find in the Elmwood Village area.
Owner-Occupant Benefits
Living in this prestigious neighborhood becomes affordable with rental income to offset mortgage payments. The property combines historic charm with modern conveniences, all within walking distance to Elmwood Village amenities and situated on one of Buffalo's most prestigious streets.This opportunity combines historic Buffalo architecture with modern updates and reliable income potential. Don't miss your chance to own a piece of Elmwood Village history while building your financial future.
