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1041 Lake Ave 11 Unit Apartment Building $795,000 ($72,273/Unit) 7.73% Cap Rate Rochester, NY 14613
Investment Highlights
- Vintage building with such charm on a park-like yard with plenty of parking.
- New Certificate of Occupancy at closing
- new heating system with energy efficient controls
- Sits next to a school
Executive Summary
Another Rockin' Rochester Property! A standout investment opportunity featuring a stately historic brick building with timeless curb appeal and a commanding presence along Lake Avenue. This classic multifamily property showcases the enduring craftsmanship and architectural character that make Rochester’s historic buildings so desirable. Large windows, solid masonry construction, and impressive period details create lasting tenant appeal while adding to the property’s long-term value. Combining historic charm with strong income-producing potential, this is an excellent opportunity to add a distinctive asset to any investment portfolio. ELEVEN units, many rented to long term tenants. 8 one bdrms, 3 studios. Most rented to community organization tenants who guarantee a lease and rent for a year. Newer boiler, and new Certificate of Occupancy at closing! Gross rents of $117,900.
Property Facts
| Price | $795,000 | Building Class | C |
| Price Per Unit | $72,273 | Lot Size | 1.00 AC |
| Sale Type | Investment | Building Size | 11,676 SF |
| Cap Rate | 7.73% | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 1.2/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $795,000 |
| Price Per Unit | $72,273 |
| Sale Type | Investment |
| Cap Rate | 7.73% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 11,676 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1900 |
| Parking Ratio | 1.2/1,000 SF |
Amenities
Site Amenities
- Gas Range
- Vintage Building
- Storage Space
- Public Transportation
- Individual Leases Available
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $924.50 | - |
| Studios | 3 | $754.00 | - |
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Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 261400-090-750-0001-027-000-0000 | Improvements Assessment | $408,300 |
| Land Assessment | $67,500 | Total Assessment | $475,800 |
Property Taxes
Parcel Number
261400-090-750-0001-027-000-0000
Land Assessment
$67,500
Improvements Assessment
$408,300
Total Assessment
$475,800
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Contact the Sale Advisor
1041 Lake Ave