.svg)
.svg)
490 7th Street , Buffalo, NY 14201
490 7th Street, Buffalo, NY 14201
2308
sq ft
2
units
2
gas meters
2
electric meters
2
hot water tanks
2
heating units
Unit 1
$650
rent
Tenant Occupied
status
2
beds
1
baths
Unit 2
$630
rent
Tenant Occupied
status
2
beds
1
baths
Unit 1
$650
rent
Tenant Occupied
status
2
beds
1
baths
Unit 2
$630
rent
Tenant Occupied
status
2
beds
1
baths
It’s difficult to find a well-maintained investment property on Buffalo’s West Side, a byproduct of the transient home ownership of past eras. The community has been improving steadily for decades now, creating tremendous competition for the limited supply of high-quality real estate.
It’s within that context that The Giambra Group is excited to present a rare find at 490 7th St., an updated two-unit home just a short walk away from the new Community Beer Works brewery. Listed at $180,000, the 2,308-square-foot residence includes many updated features that include electric wiring, HVAC, plumbing, roof, windows, insulation and much more.
The sellers bought the house at an auction nearly four decades ago, kickstarting a successful run in real estate and property management. They’ve watched the West Side become a destination for new generations who prioritize urban living in dense, walkable neighborhoods. Monthly rent at the home has risen from $240 a month in its original form to $650 now, which is still significantly below market averages and offers tremendous income upside for the next owner.
The proactive maintenance and low rents are part of a broader strategy for the sellers, who have long followed a philosophy of investing in their real estate assets to maximize their value while creating the kind of environment that keeps tenants from quickly moving on. These are the kinds of people who’ve been working with the same expert window contract for decades. They use high-quality paint and primer so they only have to do it once. They see value in the restoration of hardwood floors and wood trim. The next owners are free to pursue their own real estate strategies, but they stand to leverage the quality and upside created by the current sellers.
Given the tremendous bottleneck of high-quality residential real estate inventory in the community, The Giambra Group expects the property to appeal to both seasoned investors who understand that they can earn a profit right away and new ones for whom the home could be a residence, creating a pathway to home ownership and equity-building.
$180,000
Deadline
Open house dates
