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The rent which was being collected on this property from 3 units was $2,250 ($750 each).
The property is currently vacant to make it easier for a new owner to come in and carry out repairs without having to deal with tenants.
There is also a large upstairs room which has its own entrance and easy access to the building plumbing. I would recommend considering converting this into a 4th unit. The room is large enough to be a big studio. The other unit on that floor has a large laundry room which is not necessary to the unit and it could easily become the bathroom for the 4th unit.
This building is considered a historical building. It sits right on the Erie Canal which is also historical.
The Erie Restoration Canal is happening in the adjacent townships but has not come to Gasport yet. However it will happen, I don't know how long it will take though.
I do believe that with a healthy cash injection this building will bring a strong rental return until at which time the canal restoration project puts it on the map at which time the building will appreciate faster.
- Stories: 2
- Bedrooms: 8
- Bathrooms: 3
- Structure Type: Other
- Lot Size: N/A
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