Excellent High Demand Investment Area
This 7 Unit Mixed Use apartment building needs full rehab but is VERY STRUCTURALLY SOUND. It has an all Maintenance Free Brick Exterior and a Solid Foundation. There are 5 apartments and 2 store fronts.
Rehab required is as follows:
- New Elect,
- New Furnaces,
- New Roof,
- New Walls,
- New Flooring (ceramic, vinyl and carpet),
- New Kitchens,
- New Baths,
- New Paint,
- New Lighting Throughout.
Purchase Price is in Addition to Buyer assumption of back Taxes.
Which Total Approx. $27k
Cash Flow is Excellent expected to be getting minimum $5,600+ Gross per month rents or $67,200 per year. Owner currently has a list of interested tenants for storefronts and apartments.
Property is on a high traffic Street and Corner providing very high demand for the commercial space below.
The apartment can be easily converted and used as professional office spaces creating a higher cash flow with a more stable tenant base.
This Building is only a 5 minute drive to The University of Rochester and a 5 Minute walk from the 19th Ward Neighborhood District.
This Building is also a 5 minute drive to downtown Rochester which features Sahlen’s Soccer Stadium home of the Professional Sports Clubs:
- Men’s Major League Soccer Team “Rochester Rhinos” http://rhinossoccer.com/stadium/
- Women’s Major League Soccer Team “Western New York Flash”http://www.wnyflash.com/
- Men’s Major League Lacrosse team “RochesterRattlers”http://www.rochesterrattlers.com/
Frontier Field – http://frontierfield.org/
Home of the Minor League Baseball team “Rochester Redwings”. These two stadiums attract 100’s of thousands of fans & 10’s of Millions of Dollars in revenue on an annual basis. Rochester is planning to upgrade a number of the surrounding neighborhoods due to the high levels of revenue that the venues and the teams bring in for the city and county yearly.
This is expected to raise values and market rent for the area.
Purchase Price is in Addition to Buyer Assumption of back Taxes. Which Total Approx. $27k
We will accept purchase offers to include cash, and owner finance scenarios. All owner finance buyers must be willing to put down a minimum of $9,997 Good Faith Deposit With Application.
This Property Is A Great Investment In an Up & Coming Prime Neighborhood!
WE WILL PROVIDE YOU OWNER FINANCING
WITH A NON-CREDIT BASED APPROVAL!!
**The neighborhood is Rated a 7 (on a scale of 1-10, with 1 being worst and 10 Being Best).6, 7 & 8 neighborhoods are all neat, will provide you easy rent-ability, top market rent and great atmospheres for your tenants.