*INVESTOR OPPORTUNITY*5 UNIT APARTMENT BUILDING IN CEDAR GROVE HEIGHTS WITH ANNUALLY RENEWABLE 1-YEAR MOD-REHAB HUD CONTRACT THRU BELMONT HOUSING RESOURCES OF WNY*NEW OWNER WILL HAVE THE OPTION TO RENEW OR NOT EACH YEAR WITH NOTICE TO BELMONT EACH FEBRUARY* BUILDING IS COMPRISED OF 4-2BR UNITS RENTED @ $567/MONTH & 1-1BR UNIT RENTED @ $484/MONTH*GREAT LOCATION W/ MAINTENANCE FREE EXTERIOR,SEPARATE UTILITIES,NEW TEAR-OFF ROOF IN 2007 AND MANY OTHER RECENT IMPROVEMENTS*PARKING FOR 10 CARS IN PAVED LOT WITH STORAGE SHED*PRICED AT $219000 THIS BLDG IS SELLING FOR ONLY 6.63 TIMES ITS RENT ROLL,AT A CAP RATE OF 9.46% AND FOR ONLY $24,333 PER BEDROOM*INTERIOR PHOTOS ARE OF ONE OF THE 2 BR UNITS RECENTLY REFRESHED AND FILLED WITH BELMONT APPROVED AND SUPPORTED TENANT*
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