There's a certain charm to addresses that hint at more than just a place to live. Take 365 Young Street in Tonawanda, for instance. It’s not just a residential spot; it’s a dynamic, mixed-use property that sparks the imagination, especially for those looking for an investment with a personal touch or a unique live-work setup.
This building, a triplex constructed back in 1935, offers a compelling blend of commercial and residential space. The ground floor boasts a generous storefront, currently serving as a photo studio. But the possibilities here feel wide open – envision a cozy cafe, a vibrant retail boutique, an art gallery, or even a professional office or meeting space. It’s the kind of flexibility that’s increasingly rare and incredibly valuable.
Upstairs, the property unfolds into two distinct apartments. The second-floor unit features three bedrooms and a full bathroom, with ample living space and an updated eat-in kitchen. It’s worth noting that the tenant is vacating soon, presenting a prime opportunity for an owner-occupant to settle in or for a new tenant to be secured. Below that, a two-bedroom, one-bathroom apartment comes with the convenience of an attached 1.5-car garage and an open-concept living area with newer flooring. It’s a thoughtful layout that maximizes usability.
Beyond the individual units, the property itself has seen thoughtful updates, including new vinyl windows throughout, which are always a welcome sight for any homeowner or investor. There’s also plenty of off-street parking and a bit of green space to the east, adding to its appeal. The current gross annual income is $27,300, with individual units on month-to-month leases, but the real excitement lies in the potential for increased revenue. The current rental rates are $850/month for the lower unit, $850/month for the upper unit (which is vacating), and $400/month for the storefront.
This isn't just about numbers, though. It's about the tangible potential. Whether you're looking to expand your investment portfolio or seeking a place where you can live and work under one roof, 365 Young Street offers a tangible opportunity in Tonawanda. It’s a property that invites you to picture its future, and perhaps, your own within its walls.
