551 Lexington Ave
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551 Lexington Ave
3 Unit Apartment Building $184,900 ($61,633/Unit) 7.81% Cap Rate Rochester, NY 14613
Investment Highlights
- Newly renovated front office with half bath and upgraded flooring, ideal for diverse business opportunities.
- Upper apartment features a spacious 2-bedroom layout with a private deck for tenant enjoyment.
- Recent egress window installation in lower apartment enhances safety and meets regulatory standards.
- Updated tear-off roof ensures long-term investment security and reduced maintenance costs.
- Lower 1-bedroom apartment offers ramp access, catering to accessibility needs and tenant convenience.
- Vacant front office space presents versatile usage potential, perfect for immediate occupancy or lease.
Executive Summary
This mixed use property is an investors dream with brand new tear off roof, remodeled front office space with added half bath and new flooring. Some new flooring in occupied apartments. New egress window installed for lower apartment for compliance. There is a large 2 bedroom upper apartment with a deck and a charming lower 1 bedroom apartment with ramp access. There are many opportunities for the front office space! Front office is vacant due to recent remodel. There is a current C of O on this property.
Property Facts Under Contract
| Price | $184,900 | Apartment Style | Townhome |
| Price Per Unit | $61,633 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 7.81% | Building Size | 2,730 SF |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 1.47/1,000 SF |
| Price | $184,900 |
| Price Per Unit | $61,633 |
| Sale Type | Investment |
| Cap Rate | 7.81% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 2,730 SF |
| No. Stories | 2 |
| Year Built | 1900 |
| Parking Ratio | 1.47/1,000 SF |
Unit Amenities
- Kitchen
Site Amenities
- 24 Hour Access
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $900.00 | - |
| 1+1 | 1 | $825.00 | - |
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PROPERTY TAXES
| Parcel Number | 261400-105-250-0001-006-000-0000 | Improvements Assessment | $43,200 |
| Land Assessment | $18,800 | Total Assessment | $62,000 |
PROPERTY TAXES
Parcel Number
261400-105-250-0001-006-000-0000
Land Assessment
$18,800
Improvements Assessment
$43,200
Total Assessment
$62,000
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Jennifer Surridge -
Howard Hanna Real Estate Services
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551 Lexington Ave
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