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Searle Building 179-189 St. Paul St 35 Unit Apartment Building $2,995,000 ($85,571/Unit) 9.37% Cap Rate Rochester, NY 14604
EXECUTIVE SUMMARY
Strong rental history after a full top-bottom renovation of the Searle Building. Strong occupancy. Heat is supplied by steam loop through City of Rochester.
PROPERTY FACTS Under Contract
| Price | $2,995,000 | Building Class | B |
| Price Per Unit | $85,571 | Lot Size | 0.40 AC |
| Sale Type | Investment | Building Size | 49,572 SF |
| Cap Rate | 9.37% | Average Occupancy | 92% |
| Gross Rent Multiplier | 6.22 | No. Stories | 7 |
| No. Units | 35 | Year Built/Renovated | 1910/2011 |
| Property Type | Multifamily | Parking Ratio | 0.4/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | Multi-Family - Multi-Family, Office - residential | ||
| Price | $2,995,000 |
| Price Per Unit | $85,571 |
| Sale Type | Investment |
| Cap Rate | 9.37% |
| Gross Rent Multiplier | 6.22 |
| No. Units | 35 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.40 AC |
| Building Size | 49,572 SF |
| Average Occupancy | 92% |
| No. Stories | 7 |
| Year Built/Renovated | 1910/2011 |
| Parking Ratio | 0.4/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | Multi-Family - Multi-Family, Office - residential |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Ceiling Fans
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Loft Layout
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Renters Insurance Program
- Smoke Free
- Vintage Building
- Bicycle Storage
- Elevator
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 11 | - | - |
| 1+1 | 21 | - | - |
| 2+1 | 3 | - | - |
1 1
Walk Score®
Very Walkable (82)
Transit Score®
Excellent Transit (71)
PROPERTY TAXES
| Parcel Number | 261400-106-790-0001-014-000-0000 | Improvements Assessment | $2,527,100 |
| Land Assessment | $172,900 | Total Assessment | $2,700,000 |
PROPERTY TAXES
Parcel Number
261400-106-790-0001-014-000-0000
Land Assessment
$172,900
Improvements Assessment
$2,527,100
Total Assessment
$2,700,000
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Searle Building | 179-189 St. Paul St
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