321 Driving Park Ave - Apartments FOR SALE


Rochester, NY 14613- Edgerton
$1,300,000 USD
321 Driving Park Ave, Rochester, NY for Sale
$1,300,000 USD
Apartments - FOR SALE
1/42
null | 9.06% Cap Rate

321 Driving Park Ave
Rochester, NY 14613
Edgerton


HIGHLIGHTS

  • Brick Classic Architecture with Many Mechanical & Cosmetic Upgrades
  • High-Visibility Corner Location
  • Multiple Revenue Streams

OVERVIEW

Positioned prominently at the corner of Driving Park Avenue, 321–331 Driving Park Avenue offers investors the opportunity to acquire a substantial and distinctive mixed-use asset in Rochester’s Edgerton neighborhood. The property’s classic brick façade, strong street presence and ground-floor storefronts create the look and feel of a true neighborhood mixed-use building, backed by 17 income-producing units and a 9.06% cap rate. The asset consists of 14 residential apartments—10 one-bedroom and 4 studio units—along with 3 street-level commercial storefronts, providing diversified income across residential and commercial uses. Electric and cooking gas are separately metered. Beyond the existing rental income, the property offers additional revenue opportunities through 14 basement storage units, while on-site laundry is professionally leased and serviced under contract. The building has been carefully maintained and retains tremendous architectural character. Residential units feature hardwood floors, vinyl windows and bright, airy interiors, while ownership has continued investing in the property through meaningful capital improvements. Recent improvements include a GACO roof (2024), Bradford White hot water tank under warranty (2026), new professionally leased laundry equipment (2025), keyless entry system (2025), Arlo camera system (2025), and upgraded LED lighting throughout common areas, exterior and Store 2 (2026). A brand-new Certificate of Occupancy will be delivered at closing. For investors seeking scale, immediate cash flow, diversified income and additional revenue potential, 321–331 Driving Park Avenue presents a compelling opportunity. Its combination of 17 units, prominent corner visibility, classic architecture, recent capital investment and a strong 9.06% going-in cap rate makes this an asset that stands apart from the typical Rochester multifamily offering.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$93 USD /SF

# OF UNITS

17

PRICE/UNIT

$76,471

CAP RATE

9.06%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

URD-S

APN/PARCEL ID

261400 090.82-1-23.001

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.