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Proposed Settlement Date

Financing Terms

Include Furniture

Include Future Bookings

By submitting an offer, I understand and acknowledge that vrolio corp is not real estate brokerage and does not represent me in any capacity on a real estate transaction. I understand that this is not a purchase commitment and I am simply presenting a non-binding letter of intent to the seller of this property and the seller is in no way obligated to respond or accept my offer.

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Walking Distance to Niagara Falls With Views of Canadian Skyline

+ 40

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Niagara Falls, NY 14301

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$1,300,000
20
11
7,380
sq. ft.
$176
per sq ft
Heated sq ft: 7,380 sq ft
Avg Nightly Rate: $450
Home Legally Sleeps: 52
Occupancy Rate: 40 weeks
Annual Gross Income : 165000
Annual Net Operating Income : 102000
Property Type: Multi-Unit Property (B&B)
Ownership Type: Full (100%)
Seasoned Short Term Rental: Yes
Furnishings Included: Yes
For Sale By: Broker
Seller Financing: Yes
Niche: City Life, Pet Friendly
New Construction: Inquire
Days on Vrolio: 1196

Property Description

Great turnkey business opportunity. Three highly profitable, completely renovated & permitted vacation rentals strategically located in Niagara Falls downtown Entertainment District with million dollar view of the Canadian skyline & Niagara Gorge. #1 Mega House vacation home features 11 bedrooms, 5 full and 1 half bath, accommodate up to 28 people. #2 The Gray Goose house 4 bedrooms, 2 full baths & sleeps 12. #3 House has a 3 bedroom apartment. Grandview is upper features 3 bedrooms, 1.5 baths, and sleeps up to 6. First floor Park View apartment features 3 bedrooms, 2 full baths, and sleeps up to 8. All with fully equipped kitchens, have its ow off street parking & picnic area, strategically located. Niagara Falls State Park borders these properties within walking distance to the majestic Falls & attractions. Niagara Falls is known as the honeymoon capital of the world. Attracts 8 million + travelers per year.

Presented by:
Agent:
Louis Rizzo
Howard Hanna Real Estate Services
Seller Financing
Yes
Distress Sale
None
Seller Financing Terms
50% down. Owner holds 6% 10 years.
Seasonal Nightly Rates
High: 650
Low: 250
Peak: 650
Special Event: 650
Avarage: 450.00
Furniture Age
3
Est Value of Furnishings
$70,000
Peak & High Seasons
June, July, August
Ownership Percentage
Full (100%)
Qualifies for foreign national visa
Not sure
Reason for Selling
Retiring
Foreign national buyer restrictions from government?
No
Gross Annual Income
165000
Net Operating Income
102000
Stories
2
Additional Indoor Rooms
Unfinished basement, Other
Appliances
Dishwasher, Dryer, Electric appliances, Full stove, Microwave, Oven, Refrigerator, Washer
Heating/Cooling
Central A/C (gas or electric), Central Heat (gas or electric)
Floor Coverings
Laminate Wood
Security
Yes
Security Description
Cameras
Half Baths
2
Master Suite(s)
Inquire
Energy Efficiency
Energy Efficient Insulation, Energy Star appliances, Energy Star certified windows, Energy efficient lighting, Programmable thermostat
Year built
1910
Outdoor Features
Sprinkler System
View
City, River/Creek, Waterfall
Backyard Exposure
West
Lot Size
98'x132'
Community Features
Bar, Bike Rentals, Driving Range, Fitness Center, Golf Shop, Health Spa, Lake Access, Marina, Meeting Rooms, Nature Trails/Walking Path, Playground, Public Golf Course, Restaurant(s), River Access, Stores, Sundries Shop/Convenience Store, Tennis Court, Theater, Waterpark
Tax Amount/Year
$5,908
CDD Amount
Inquire
Neighborhood
Inquire
Deed Restricted Community
No
Interview Required
No
Neighborhood Amenities
Bar, Bike Rentals, Driving Range, Fitness Center, Golf Shop, Health Spa, Lake Access, Marina, Meeting Rooms, Nature Trails/Walking Path, Playground, Public Golf Course, Restaurant(s), River Access, Stores, Sundries Shop/Convenience Store, Tennis Court, Theater, Waterpark
Mandatory HOA
Inquire
Home Legally Sleeps:
52
Onsite Parking
Off Street parking for 6+ vehicles.
Neighborhood Association STR Rules
Inquire
Municipality STR Rules
No restrictions documented by owner. Verification recomended
Transferrable Permit or License
Yes, Municipality Issuing New Permits
Rental Tax Info
$13.00
Minimum Nightly Rental
No Minimum
Rental Length Requirement
No Restriction
Has Rental History
Yes
Established Rental History
2 Years
Occupancy Rate
40
Being Sold with Bookings
Inquire
Caretaker Info
InquireCaretaker cannot stay and oversee the property
Bookings Placed By
Third Party
Managed By
Owner
Management Bookings Percentage
Inquire
Caretaker Bookings Percentage
Inquire
Paid Booking History
Yes
Future Booking Calendar
Management Fees
Inquire
Caretaker Fees
Inquire
Sold with Marketing Collateral
No
Manager Cancellation Policy
 
  •  
Credit Card Fee
Inquire
Cleaning Fee
$200.00
Licesnes & Permits (Annual)
Inquire
Advertising & Tech Costs (Annual)
Inquire
Yard & Pest Control (Annual)
Inquire
Pool & Spa Maintinence (Annual)
Inquire
Electricity (Annual)
$3,600.00
Water/Sewer (Annual)
$1,272.00
Cable/Interbet (Annual)
$2,736.00
Accounting Fee (Annual)
Inquire
Property Taxes (Annual)
$5,908.00
Homeowner's Insurance (Annual)
$3,000.00
Short Term Rental Insurance Rider (Annual)
Inquire
CDD Fee (Annual)
Inquire
Annual Homeowner's Association Dues
Inquire
Additional Membership Fees (Annual)
Inquire
Acquisition
Purchase price
Closing costs
Home Inspection
Furniture & Interiors Package
Rehab Work Estimates
Other
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User understands this calculator is deemed reliable but not guaranteed. Vrolio makes absolutely no guarantees on returns or income. User should do their own due diligence and verify all data before making a purchasing decision. User understands that this is an educational tool only. We therefore accept no liability arising from any reliance made by any user or person to whom this information is made available to. Please use this tool at your own discretion and use caution always before buying any real estate investment.

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Listing Source: Howard Hanna Real Estate Services, 17169407008

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