About 571 Lake Avenue
Introducing a prime investment opportunity in the heart of Rochester, NY - 571 Lake Ave. This 23-unit brick apartment building with 4 storage garages offers immense potential for rental income growth. Built in 1910, the property features a mix of units including 1 studio, 18 one-bedroom, and 4 two-bedroom apartments over 18,816 square feet. Currently, the rents are significantly below market value, presenting a unique opportunity for a savvy investor to enhance cash flow. With separate utilities, a solid payment history from all cash tenants, and the potential to increase rents and utilize the garage units, this property is a lucrative find. The location benefits from strong demand, with tenants appreciating the proximity to amenities and easy access to the vibrant Rochester community. Don't miss out on the chance to own a piece of Rochester's real estate market with 571 Lake Ave. Cap does not include potential income from garage units. Also does not include management/vacancy or repair assumption. Proof of funds and proof of financing requester before all showings. Please allow 48 hours for scheduling showings and notifying tenants. Rent Roll and expense info available on request.
Features of 571 Lake Avenue
| MLS® # | R1611866 |
|---|---|
| Price | $1,095,000 |
| Bathrooms | 0.00 |
| Square Footage | 28,224 |
| Square Footage | 15656 |
| Acres | 0.36 |
| Year Built | 1910 |
| Type | Multi Family |
| Sub-Type | Other |
| Status | Active |
Community Information
| Address | 571 Lake Avenue |
|---|---|
| Area | Rochester City |
| Subdivision | Edgerton |
| City | Rochester |
| County | Monroe |
| State | NY |
| Zip Code | 14613 |
Amenities
| Utilities | Sewer Connected, Water Connected, Other, See Remarks |
|---|---|
| Features | Near Public Transit, Rectangular, Rectangular Lot |
| Parking | None |
| Garages | None |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Ceramic Tile, Hardwood, Varies |
|---|---|
| Appliances | Gas Water Heater, See Remarks |
| Heating | Gas, Other, See Remarks, Forced Air |
| Cooling | Other, See Remarks |
| Fireplace | No |
| # of Stories | 3 |
| Stories | 3 |
| Has Basement | Yes |
| Basement | Full |
Exterior
| Exterior | Brick |
|---|---|
| Exterior Features | See Remarks |
| Lot Description | Near Public Transit, Rectangular, Rectangular Lot |
| Roof | Other, See Remarks |
| Construction | Brick |
School Information
| District | Rochester |
|---|
Additional Information
| Short Sale | No |
|---|---|
| RE / Bank Owned | No |
Listing Details
| Office | Rich Realty |
|---|