201 Lake Ave - Multi-Family FOR SALE


Rochester, NY 14608- Brown Square
$800,000 USD
201 Lake Ave, Rochester, NY for Sale
$800,000 USD
Multi-Family - FOR SALE
1/21
null | 6.64% Cap Rate

201 Lake Ave
Rochester, NY 14608
Brown Square


HIGHLIGHTS

  • Close to Genesee River
  • Off Street Parking w/ Downtown Location
  • New Mechanics & Updated Units

OVERVIEW

Another Rockin' Rochester Property! This well-maintained multi-unit brick building offers a strong mix of apartments and recent updates, making it an excellent investment opportunity. A newer boiler installed in 2023 ensures efficient heating, while the 15-year-old roof provides peace of mind for years to come. Residents enjoy the convenience of an on-site, coin-operated laundry. The property features a thoughtful unit layout across three floors. The third floor includes three one-bedroom apartments, two located in the rear and one in the front. The second floor offers four spacious one-bedroom units along with a studio apartment. On the first floor, you’ll find two one-bedroom apartments—one with an inviting open front porch and another with a charming side porch— plus an additional studio unit. Units 1-8 pay cooking gas only (LL pays heat & electric). Units 9-11 pay their own gas and electric. With a balanced mix of one-bedroom and studio apartments, along with valuable updates and tenant-friendly amenities, this property could make a solid long-term addition to any investment portfolio. Seller may consider finance with 50% down, 8% interest, 30 year term, balloon in 5 years. Must be sold with 189 -199 Lake Ave.

FOR SALE DETAILS

PRICE

$800,000 USD

PRICE/SF

$98 USD /SF

# OF UNITS

11

PRICE/UNIT

$72,727

CAP RATE

6.64%

% LEASED

72%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

261400-105-600-0001-010-000-0000

ASK ABOUT THIS PROPERTY

Colleen BracciRE/MAX Realty GroupMore Info

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Colleen BracciRE/MAX Realty GroupMore Info

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.