Saratoga Ave – Brick & Aluminum Maint. Free Exterior, Nice Commercial / Residential Neighborhood, High Traffic Corner!
This property has 3 Apartments & 1 Restaurant Store front with equipment in place.
There is a Current CofO with no outstanding Violations. All three Apartments are Fully occupied & TENANTS ARE ALL CURRENT ON THEIR RENT. The details are as follows:
Apt #1 – 4 Bdrm
- Tenant has been there for 10 years.
- Rent $900 plus tenant pays own utilities. (Rent should be $1100)
- 4 Bed Rooms
- 1 Bath
- Living Room
- Dining Room
Apt #2 – 3 Bdrm
- Christian Woman’s Shared Home (Smoke Free, Alcohol Free & Drug Free Environment)
- 3 Women Occupy the Apartment
- Rent $1,320 all paid by Government. Rent Sent directly to landlord.
- 3 Bed Rooms
- 1 bath,
- Living Room
- Eat-in Kitchen
- Fully Furnished, beds, Living room & Kitchen. Landlord pays utilities.
Apt #3 – 2 Bdrm
- Tenant has been there for 6 years.
- Rent $525 plus tenant pays own utilities. (Rent should be $550-$725)
- 2 Bed Rooms
- 1 bath,
- Living Room
- Eat-in Kitchen
The other good things are:
- Exterior is Maintenance free Brick & Aluminum siding;
- Roof is in great condition
- 2,880 Sq Ft
Restaurant is Turn Key!
There was a tenant who rented for 2 years paying $1,100 per month. They closed 6 months ago because they were running multiple businesses at once and couldn’t manage the restaurant effectively while doing so. Prior to that the Original owner of this building Previously owned and operated the Restaurant For 75 years. They became a staple in the community and unfortunately closed in Early 2013 due to death. They left all Equipment.
Other Restaurant Details:
- Expected Rent $1,000-1,500/mth “Triple Net” (tenant will pay, utilities, maintenance & taxes). Plus $300-$500/mth for Equipment use.
- Parking Lot in Rear;
- There are 2 baths;
- Large Prep Kitchen;
- (1) Large 10 Burner Commercial Stove;
- 2 Deep Fryers
- Working Grill;
- Newer Meat Smoker;
- Large Walk-in Commercial Fridge & Freezers;
- Commercial Exterior Walk-in Storage Fridge;
- Commercial Ice Cream Maker;
- (3) Ice Cream Freezers;
- New Efficiency Furnace;
- New Air Conditioner;
- Working Antique Juke Box;
- Cash Register;
- Dinning Booths;
- Dishes, Flat Ware, Cooking Utensils Etc.;
- & More…
The restaurant has remained vacant because the current owners were considering opening it with his daughter following her college graduation. However, she’s decided to pursue graduate school in another city. So the utilities are still on and the current owner still owns the retail phone # used by the previous operator.
The Restaurant is Perfectly Positioned on a high traffic Street and Corner Directly across from school providing very high demand for restaurant space and retail customers.
We Will Work With You To Close Quickly So You Can Begin Enjoying Your Profit & ROI Immediately!
**The neighborhood is Rated a 6.5 (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.
There is current management in place who handle tenant relations, showings, application screening, maintenance and maintenance coordination. They would be glad to take over and manage for the next owner and seller will pay the first 3 months of management fee of 10% and the cost to acquire new tenant.
Seller owns and you will get at no additional cost, the ownership of all the appliances.
This Property Is A Steal
I Am currently selling this property for
$124,997 with owner financing
$99,997 All Cash ($25k DISCOUNT!!!)
** When Paying All Cash: Your Positive Cash Flow would be $38,867 & your Net Return on Investment would be 38.4%.
** When Using Seller Financing: Your Positive Cash Flow would be $27.953.05. Your Cash on Cash Return on Investment would be 50.8% & your Net Return on Investment would be 22.4%. (Based on a 55k Down Payment)
Both are Amazing!
The terms of the owner financing are as follows:
*Down Payment: $55K
*Monthly Payment P&I: $867.86
*Amort: 10 yrs.
*Term: 5 yrs with possible 1 yr. Extensions.
*Interest Rate: 8.5%.
We are taking applications for the purchase of the property. We will be selecting the applicant who can afford the property & who has the ability to take care of the property. Although the financing approval will not be credit based, we may require an updated credit report.
We will consider all offers and anyone who has all cash goes to the top of the list.
Anyone who has all cash and can close quickly (7-14 days) Will Receive Additional Consideration With Pricing.
I have also attached some pictures of how the properties look.
We need to give tenants 24 hrs notice prior to showing. Welcome to drive by first butPlease do not disturb the tenants.
Please let me know what questions you have feel free to give me a call. This is a great investment for High Cash Flow rental or Flip.
*WE MAY CONSIDER SELLING BUILDINGS SEPARATELY WITH THE RIGHT OFFER.
LOCATION, LOCATION, LOCATION
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.
This Property for sale is also only 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/
This Property Is A Great Investment In an Up & Coming Prime Neighborhood!
WE WILL PROVIDE YOU OWNER FINANCING
WITH A NON-CREDIT BASED APPROVAL!!
If you are a Serious Buyer and
want to be considered for this opportunity,
click button below...
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Just a quick note to say thank you very much for taking care of us on Friday. Lisa and I both feel reassured about our purchases after seeing the properties and meeting with you and your team. We all enjoyed the donuts too!! It is obvious you have chosen a good group of people to work for you as their enthusiasm for their work was clear to see. I also wanted to let you know [your property manager] was wonderful when she showed Lisa and I around on Thursday. As I mentioned to [your property manager], with God's will, we hope to visit you lovely people again next year. Finally, as you are aware, I am waiting on financing to be approved. Once this happens, I will email you to see if you can organize mortgages for further properties. Once again, thank you for all your help James.
I have to say that I am really impressed with James and his organization. I spent a great afternoon with James and Anthony looking at projects and houses. He will probably tell you but I had to keep asking what the catch was. I still can't work it out. They do up beaten up houses and get them rent ready (using standard colors etc) and sell cash flow positive properties for very reasonable prices. I also was impressed with [your property manager]. She showed me some properties and even helped me get to the airport on time. I was really appreciative with all their efforts that they went to. I wouldn't have believed it unless I went and saw them eye to eye.
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I cannot believe this is [my property]! It is completely different from what I saw on the tour with Rich [operations manager]. You've done a great job Rich. Could you pass on my thanks to James too? And thanks for the Christmas Card. Many Thanks all and have a Happy XMAS.
Hi again, You obviously took a real note of the inspection details. I'm impressed. Thanks,