3655 High StWalworth, NY 14568
- Residential income properties
- 30,088 SF
Property Details for 3655 High St
- Year built
- 2016
- Lot size
- 2.04 AC
- Property size (Sq ft)
- 30,088 SF
- Property type
- Residential income properties
- Property subtype
- Retirement homes
Description
This exceptional investment opportunity presents a fully leased, 31-unit senior living apartment building in Walworth, NY. The 30,088 square foot, two-story building, constructed in 2016, boasts 100% occupancy and a strong 8.6% cap rate, generating a net operating income (NOI) of $322,500. All units are spacious one-bedroom apartments, complemented by a common area with a kitchen and fitness center. Situated on a 2.04-acre lot (two tax parcels), this property offers significant upside potential. Approved plans exist for a 20-unit expansion, capitalizing on the growing demand for senior housing. The property benefits from a favorable tax rate of 3.41% in the Town of Walworth and is zoned Hamlet District-Multifamily/Neighborhood Business. The low-maintenance nature of the building, combined with its prime location near Rochester, NY, makes this a compelling investment for those seeking a stable, high-return asset with built-in growth potential. The property's strong performance and expansion opportunity ensure long-term value appreciation. This fee-simple ownership offers a rare chance to acquire a well-managed, high-performing asset in a desirable market.
Location Insight
- City
- Walworth
- County
- Wayne
- State
- New York
- Latitude
- 43.1371
- Longitude
- -77.2715
Comparable in this City
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