1361 Lake Ave | Rochester, NY 14613
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- LoopNet Team
1361 Lake Ave
Rochester, NY 14613
51-unit value-add MF with upside in Rochester · Multifamily Property For Sale · 51 Units
Investment Highlights
- Well-established 51-unit brick apartment building excellently positioned just off NY-104 with indoor parking in Rochester, NY.
- Value-add investment opportunity to acquire a multifamily asset in a renter-dominated area where market rents increased by 5.5% in the past year.
- Surrounded by incredible amenities within a three-mile radius, including Walmart Supercenter, Target, McDonald’s, and more.
- Nestled in a popular Maplewood suburb, this four-story property is a brief half-mile walk from the Genesee River.
- Equipped with a security system, remote cameras, a brand-new boiler system and hot water holding tank.
- Situated in Upstate New York, a 10-minute drive from Ontario Beach, and in proximity to the heart of Rochester.
PROPERTY FACTS
| Sale Conditions | Auction Sale | Lot Size | 0.79 AC |
| No. Units | 51 | Building Size | 44,904 SF |
| Property Type | Multifamily | Average Occupancy | 88% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid Rise | Year Built | 1968 |
| Building Class | C | Parking Ratio | 1.78/1,000 SF |
| Sale Conditions | Auction Sale |
| No. Units | 51 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.79 AC |
| Building Size | 44,904 SF |
| Average Occupancy | 88% |
| No. Stories | 4 |
| Year Built | 1968 |
| Parking Ratio | 1.78/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Oven
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 13 | - | 500 |
| 1+1 | 36 | - | 650 |
| 2+1 | 2 | - | 900 |
PROPERTY TAXES
| Parcel Number | 261400-090-510-0003-027-000-0000 | Improvements Assessment | $1,301,500 |
| Land Assessment | $126,500 | Total Assessment | $1,428,000 |
PROPERTY TAXES
Parcel Number
261400-090-510-0003-027-000-0000
Land Assessment
$126,500
Improvements Assessment
$1,301,500
Total Assessment
$1,428,000
zoning
| Zoning Code | R-3 High Density Resi (The R-3 High-Density Residential District protects, preserves and enhances existing residential areas of higher density which include multifamily.) |
| R-3 High Density Resi (The R-3 High-Density Residential District protects, preserves and enhances existing residential areas of higher density which include multifamily.) |
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