$1,098,000
$1,375,000
20.1%For more information regarding the value of a property, please contact us for a free consultation.
431 Lake AVE Rochester, NY 14608
35,774 SqFt
Key Details
Sold Price $1,098,000
Property Type Multi-Family
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 35,774 sqft
Price per Sqft $30
Subdivision Phelps Subn
MLS Listing ID R1310772
Sold Date 05/28/21
Construction Status Existing
HOA Y/N No
Annual Tax Amount $41,656
Lot Size 1.260 Acres
Acres 1.26
Lot Dimensions 47X228
Property Sub-Type Other
Property Description
Turnkey 37 Unit Residential Rental PORTFOLIO in Rochester NY. This is your chance to invest in a fully operational investment portfolio. Professionally managed, 9 apartment homes with 37 total units earn $272,640 gross yearly income and clear $162,950 Net Operating Income. The portfolio offers a 11.85% cap rate and is 100% occupied. Each unit has its own gas and electric meters, water heater and furnace with 33 new furnaces and 16 water heaters installed since 2016. Many other updates since 2016 include roofing, vinyl windows, bathroom remodels and other interior and exterior improvements. Many detailed reports, photos, videos and other information at buyer's request.
Location
State NY
County Monroe
Community Phelps Subn
Area Rochester City-261400
Direction On the West side of Lake Avenue between Emerson Street and Phelps Avenue.
Rooms
Basement Full
Interior
Heating Electric, Gas, Baseboard, Forced Air
Flooring Carpet, Ceramic Tile, Hardwood, Laminate, Resilient, Tile, Varies, Vinyl
Fireplace No
Appliance Gas Water Heater, See Remarks
Exterior
Exterior Feature Blacktop Driveway, Gravel Driveway
Utilities Available Sewer Connected, Water Connected
Roof Type Asphalt,Flat
Handicap Access Accessibility Features, Low Threshold Shower, Accessible Doors
Garage No
Building
Lot Description Residential Lot
Story 2
Sewer Connected
Water Connected, Public
Level or Stories Two
Structure Type Aluminum Siding,Brick,Composite Siding,Steel Siding,Stucco,Vinyl Siding,Copper Plumbing,PEX Plumbing
Construction Status Existing
Schools
School District Rochester
Others
Senior Community No
Tax ID 261400-105-440-0001-016-000-0000
Acceptable Financing Cash
Listing Terms Cash
Financing Other,See Remarks
Special Listing Condition Standard
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Bought with Hunt Real Estate ERA/Columbus