List Price $1,750,000
Located in Rochester, Monroe County
School District: Rochester
Sq. Ft. 17976
Exterior Construction Brick
Year Built 1969
Floors Ceramic-Some, Vinyl-Some, Wall To Wall Carpet-Some
Appliances Included Other - See Remarks
Additional Comments: Current owners have owned the property for two years, in which they have leased up and stabilized the asset, leaving a prospective buyer with considerable upside in net operating income from completing the current owners renovation schedule (bringing rents up to market rent) and normalizing expenses over the short term. Rents are steadily being increased as units turn over with no sign of market resistance even above $1100 for renovated units. Normalizing insurance, landscaping, snow removal, refuse removal, and utility expenses also present great opportunities to push Net Operating Income without capital intensive projects. Another consideration for capturing value is sub-metering for water/sewer at the subject property which is commonplace in the MSA among town home communities.
Listing Courtesy of ROC Real Capital, LLC
We would be happy to provide more detail or show you this property. Please contact us by phone at 585-259-4050, email us, or use the form below to submit your request.
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