Fire-Damaged Multifamily
421-423 Driving Park Ave, Rochester, NY 14613
For Sale
Contact for pricing
Pending
Rehabilitation is required after damage to the rear porch, second floor, and attic.
Property Size2,288 SF
Days on Market11
Property Features for 421-423 Driving Park Ave
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Site & Location
Neighborhood
Public Transit
Additional Details
Asking Price
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
CEM Properties LLC
Listed By:
Curtis Amesbury · License NY #10491209190
(585) 613-4606
Source:
Elliman
Added: Oct 30
Changed: Nov 1
Last Checked: Nov 8 at 5:43AM
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 CEM Properties LLC
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Investment Insights
Based on property information with market context.
Built in 1910, this multifamily property has fire damage affecting the rear porch, second floor, and attic. The buyer will be responsible for rehabilitation.
Property access is by appointment, with the listing agent or seller accompanying visitors. Each person must sign a Hold Harmless Agreement before entry. The property has a Bike Score of 50, a Walk Score of 52, and a Transit Score of 38.
Property access is by appointment, with the listing agent or seller accompanying visitors. Each person must sign a Hold Harmless Agreement before entry. The property has a Bike Score of 50, a Walk Score of 52, and a Transit Score of 38.
Key Highlights
- Fire damage affects the rear porch, second floor, and attic
- Buyer assumes responsibility for rehabilitation
- Built in 1910
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,471
Suggested Prices Based on Cap Rates
Cap Rate 5%
$469,420
$469.4K
Cap Rate 7%
$335,300
$335.3K
Cap Rate 9%
$260,789
$260.8K
Market Conditions
NOI Build-Up for 2,288 SF
Gross rent
$45.3K $19.80/SF
− Vacancy
−$2.6K −$1.15/SF
EGI
$42.7K $18.65/SF
− OpEx
−$19.2K −$8.39/SF
NOI
$23.5K $10.26/SF
Area
Rochester, NY
Vacancy
5.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$469,420
Cap Rate 7%
$335,300
Cap Rate 9%
$260,789
Alternative Uses
Best Use
Apartment 5plus
$335.3K
$293.4K – $391.2K
NOI $23,471 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$626.8K
$548.4K – $731.3K
NOI $43,875 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
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Business Placement
Demographics for 14613, NY
14,882
Population
6,561
Households
2.3
Avg Household Size
31
Median Age
14%
College-Educated
77%
High-School Grad
1.9 sq mi
ZIP Area
7,833
Density / Sq Mi
$33,370
Median Household Income
$29,530
Median Earnings
$939
Median Rent
$108,200
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Rochester, NY
Properties on Market for Multifamily properties in Rochester
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Rehabilitation is required after damage to the rear porch, second floor, and attic.
Where is this multifamily property located?
The property is located at 421-423 Driving Park Ave Rochester, NY.
What are key features of this property?
This property features: Fire damage affects the rear porch, second floor, and attic; Buyer assumes responsibility for rehabilitation; Built in 1910
