865 Lake Ave - Apartments FOR SALE


Rochester, NY 14613- Edgerton
$1,525,000 USD
865 Lake Ave, Rochester, NY for Sale
$1,525,000 USD
Apartments - FOR SALE
1/25
null | Request Cap Rate

865 Lake Ave
Rochester, NY 14613
Edgerton


HIGHLIGHTS

  • Brick building with parking for all. All new vinyl windows.
  • Kitchens and baths updated
  • Across the street from the Maplewood Rosegarden

OVERVIEW

Another Rockin' Rochester Property! Attention investors! This solid brick NINETEEN unit apartment building features all 1 bdrm units (rents averaging $1091/mo) and is the definition of a turn-key, cash flowing asset. Comes with a new Certificate of Occupancy at closing. 100% occupied- offering immediate, reliable income from day one. Even better, most tenants rents are paid through organizations that provide guaranteed rental payments, delivering consistent cash flow and reduced collection concerns. Thoughtfully maintained with numerous efficiency upgrades including all new windows, energy efficient lighting and a boiler equipped with Tekmar controls for improved heating performance and lower operating costs. Hardwood flooring, luxury vinyl plank flooring, plenty of off street parking, kitchens and baths updated. Convenient access to downtown, public transportation, shopping, restaurants, parks, Maplewood Rose Garden and Ontario Beach Park. This one has it all with strong occupancy, quality improvements and a great rental income with a $248k gross income!

FOR SALE DETAILS

PRICE

$1,525,000 USD

PRICE/SF

$115 USD /SF

# OF UNITS

19

PRICE/UNIT

$80,263

CAP RATE

Request Cap Rate

% LEASED

55%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1935

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

R-3

APN/PARCEL ID

261400-090-830-0001-019-000-0000

ASK ABOUT THIS PROPERTY

Colleen BracciRE/MAX Realty GroupMore Info

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Colleen BracciRE/MAX Realty GroupMore Info

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