1344 Dewey Ave 1342, Rochester, NY 14613

This is an opportunity to acquire a 10-unit multifamily property located at 1342-1344 Dewey Ave, Rochester, NY. The property features 8 one-bedroom units and 2 basement studio units. Eight units are delivered with some renovations still needed, including the basement units, up to 4 of the one-bedroom units, and some kitchens. The property has separate electric and cooking gas. Heat and hot water are included. The interiors have been updated with newer kitchens, hardwood, and vinyl plank flooring. Replacement windows and new exterior doors have been installed. A steam boiler was installed in 2020, and a security camera system is included. The property has undergone significant improvements, including remediation from a minor neighboring fire impact. The flat torch-down roof is currently being freshly silver-coated. The property has clean mechanicals and solid infrastructure. An additional parcel at 1346 Dewey Ave is included, which is a parking lot with an existing garage that must be demolished. The property offers immediate cash flow from rent-ready units and the ability to increase income through unit completion and lease-up. The property is very bikeable with a bike score of 75, somewhat walkable with a walk score of 55, and has some transit with a transit score of 42. The C of O transfers to the new buyer and expires in November 2027. Expenses before the fire next door were: City tax: $5,056; County tax $2,424; Insurance $6,234; House meter utilities $6,000; Refuse $2,000.