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865 Lake Ave 19 Unit Apartment Building $1,525,000 ($80,263/Unit) Rochester, NY 14613
Investment Highlights
- Brick building with parking for all. All new vinyl windows.
- Across the street from the Maplewood Rosegarden
- Kitchens and baths updated
Executive Summary
Another Rockin' Rochester Property! Attention investors! This solid brick NINETEEN unit apartment building features all 1 bdrm units (rents averaging $1091/mo) and is the definition of a turn-key, cash flowing asset. Comes with a new Certificate of Occupancy at closing. 100% occupied- offering immediate, reliable income from day one. Even better, most tenants rents are paid through organizations that provide guaranteed rental payments, delivering consistent cash flow and reduced collection concerns. Thoughtfully maintained with numerous efficiency upgrades including all new windows, energy efficient lighting and a boiler equipped with Tekmar controls for improved heating performance and lower operating costs. Hardwood flooring, luxury vinyl plank flooring, plenty of off street parking, kitchens and baths updated. Convenient access to downtown, public transportation, shopping, restaurants, parks, Maplewood Rose Garden and Ontario Beach Park. This one has it all with strong occupancy, quality improvements and a great rental income with a $248k gross income!
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$248,820
|
$18.81
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$248,820
|
$18.81
|
| Taxes |
$26,193
|
$1.98
|
| Operating Expenses |
$68,142
|
$5.15
|
| Total Expenses |
$94,335
|
$7.13
|
| Net Operating Income |
$154,485
|
$11.68
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $248,820 |
| Annual Per SF | $18.81 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $248,820 |
| Annual Per SF | $18.81 |
| Taxes | |
|---|---|
| Annual | $26,193 |
| Annual Per SF | $1.98 |
| Operating Expenses | |
|---|---|
| Annual | $68,142 |
| Annual Per SF | $5.15 |
| Total Expenses | |
|---|---|
| Annual | $94,335 |
| Annual Per SF | $7.13 |
| Net Operating Income | |
|---|---|
| Annual | $154,485 |
| Annual Per SF | $11.68 |
Property Facts
| Price | $1,525,000 | Building Class | C |
| Price Per Unit | $80,263 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 13,230 SF |
| No. Units | 19 | Average Occupancy | 55% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1935 |
| Apartment Style | Low-Rise | Parking Ratio | 1.36/1,000 SF |
| Zoning | R-3 - High-Density Residential | ||
| Price | $1,525,000 |
| Price Per Unit | $80,263 |
| Sale Type | Investment |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 13,230 SF |
| Average Occupancy | 55% |
| No. Stories | 3 |
| Year Built | 1935 |
| Parking Ratio | 1.36/1,000 SF |
| Zoning | R-3 - High-Density Residential |
Amenities
Unit Amenities
- Kitchen
- Oven
- Tub/Shower
- Window Coverings
Site Amenities
- Private Bathroom
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 19 | - | - |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 261400-090-830-0001-019-000-0000 | Total Assessment | $760,000 |
| Land Assessment | $18,800 | Annual Taxes | $26,193 ($1.98/SF) |
| Improvements Assessment | $741,200 | Tax Year | 2025 |
Property Taxes
Parcel Number
261400-090-830-0001-019-000-0000
Land Assessment
$18,800
Improvements Assessment
$741,200
Total Assessment
$760,000
Annual Taxes
$26,193 ($1.98/SF)
Tax Year
2025
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865 Lake Ave