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Willow Gardens 2594-2608 Dewey Ave 56 Unit Apartment Building $5,399,000 ($96,411/Unit) 9% Cap Rate Rochester, NY 14616
Executive Summary
Introducing Willow Gardens, an investment opportunity nestled at 2600 Dewey Avenue in Rochester, NY. This impressive 56-unit apartment complex, built in 1970, consists of 5 brick buildings offering a mix of 16 two-bedroom and 40 one-bedroom units. Recent upgrades include new boilers, water tanks, windows, and renovated units. The property boasts a prime location in Greece NY zip code, within the Rochester school district. With a total square footage of 44,724 and a strong financial performance, this complex presents a solid investment. There is no allowance for management/vacancy or repairs in the advertised cap. Add your own for your specific true cap. Willow Gardens is a turnkey opportunity for investors seeking stable returns. Don't miss out on this chance to acquire a well-maintained and profitable asset in a thriving rental market. Proof of funds and proof of financing requested prior to showings.
Property Facts
| Price | $5,399,000 | Building Class | C |
| Price Per Unit | $96,411 | Lot Size | 1.10 AC |
| Sale Type | Investment | Building Size | 44,159 SF |
| Cap Rate | 9% | Average Occupancy | 100% |
| Gross Rent Multiplier | 7.7 | No. Stories | 2 |
| No. Units | 56 | Year Built | 1970 |
| Property Type | Multifamily | Parking Ratio | 0.75/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R - RESIMERCIAL | ||
| Price | $5,399,000 |
| Price Per Unit | $96,411 |
| Sale Type | Investment |
| Cap Rate | 9% |
| Gross Rent Multiplier | 7.7 |
| No. Units | 56 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.10 AC |
| Building Size | 44,159 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 0.75/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R - RESIMERCIAL |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Wi-Fi
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
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Property Taxes
| Parcel Number | 261400-075-410-0002-031-000-0000 | Improvements Assessment | $987,300 |
| Land Assessment | $32,700 | Total Assessment | $1,020,000 |
Property Taxes
Parcel Number
261400-075-410-0002-031-000-0000
Land Assessment
$32,700
Improvements Assessment
$987,300
Total Assessment
$1,020,000
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Willow Gardens | 2594-2608 Dewey Ave
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