Turnkey Three-Unit
399 E University Ave W 397, Rochester, NY 14607
For Sale
$488,900
Move-in-ready triplex with updated kitchens and bathrooms, in-unit and basement laundry access, and refreshed interior finishes.
Property Size2,628 SF
Days on Market153
Property Features for 399 E University Ave W 397
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Business Included
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Tenancy
Listing Agency:
Keller Williams Realty Greater Rochester
Listed By:
Charity J. Traub · License #10401352033
(585) 673-3794
Source:
Elliman
Added: Jun 10
Changed: Oct 26
Last Checked: Nov 8 at 6:29AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Greater Rochester
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Investment Insights
Based on property information with market context.
This completely transformed, move-in-ready triplex offers three separate residential units with updated kitchens and bathrooms. The first-floor unit is a rare three-bedroom, two-bath layout with a private porch and in-unit laundry for added convenience. Upstairs, there is a spacious two-bedroom, one-bath apartment, and a separate one-bedroom, one-bath unit next door. Laundry access is built into the arrangement, including complimentary laundry access in the basement for the one-bedroom unit.
The property is positioned just minutes from dining, boutique shopping, cafes, and popular local hotspots, providing tenants with multiple nearby daily conveniences. Public remarks also note a walkable and bikeable environment, with some transit access.
From a tenant and owner-occupant perspective, the unit mix supports flexible living arrangements while keeping day-to-day operations straightforward with individual electrical panel boxes for each unit. Additional improvements called out include updated windows, gutters, laminate flooring, and fresh interior finishes throughout, helping the property function as a turnkey option for buyers seeking a ready-to-lease configuration.
The property is positioned just minutes from dining, boutique shopping, cafes, and popular local hotspots, providing tenants with multiple nearby daily conveniences. Public remarks also note a walkable and bikeable environment, with some transit access.
From a tenant and owner-occupant perspective, the unit mix supports flexible living arrangements while keeping day-to-day operations straightforward with individual electrical panel boxes for each unit. Additional improvements called out include updated windows, gutters, laminate flooring, and fresh interior finishes throughout, helping the property function as a turnkey option for buyers seeking a ready-to-lease configuration.
Key Highlights
- Move‑in‑ready triplex, built in 1920, with refreshed interior finishes throughout
- First‑floor 3‑bedroom/2‑bath unit with private porch and in‑unit laundry
- Upstairs 2‑bedroom/1‑bath apartment with updated kitchen and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,245
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$604,900
$604.9K
Cap Rate 7%
$432,071
$432.1K
Cap Rate 9%
$336,056
$336.1K
Market Conditions
NOI Build-Up for 2,628 SF
Gross rent
$45.7K $17.40/SF
− Vacancy
−$2.5K −$0.96/SF
EGI
$43.2K $16.44/SF
− OpEx
−$13.0K −$4.93/SF
NOI
$30.2K $11.51/SF
Area
Rochester, NY
Vacancy
5.51%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$604,900
Cap Rate 7%
$432,071
Cap Rate 9%
$336,056
Alternative Uses
Best Use
Multifamily LT 5
$432.1K
$378.1K – $504.1K
NOI $30,245 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$385.1K
$337.0K – $449.3K
NOI $26,959 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$719.9K
$629.9K – $839.9K
NOI $50,395 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,712
Businesses Nearby
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Business Placement
Demographics for 14607, NY
16,298
Population
11,971
Households
1.4
Avg Household Size
32
Median Age
60%
College-Educated
95%
High-School Grad
1.7 sq mi
ZIP Area
9,587
Density / Sq Mi
$56,270
Median Household Income
$44,018
Median Earnings
$1,129
Median Rent
$304,100
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Rochester, NY
Properties on Market for Triplexes in Rochester
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Move-in-ready triplex with updated kitchens and bathrooms, in-unit and basement laundry access, and refreshed interior finishes.
Where is this triplex located?
The property is located at 399 E University Ave W 397 Rochester, NY.
What is the asking price?
The asking price for this property is $488,900.
What are key features of this property?
This property features: Move‑in‑ready triplex, built in 1920, with refreshed interior finishes throughout; First‑floor 3‑bedroom/2‑bath unit with private porch and in‑unit laundry; Upstairs 2‑bedroom/1‑bath apartment with updated kitchen and bathroom
