488 Meigs St, Rochester, NY 14607

This exceptional two-story apartment building, situated on a 0.12-acre lot in Rochester, NY (zip code 14607), presents a compelling investment opportunity. The property, built in 1925 and extensively renovated in 2023 and 2024, features four units: one studio, two one-bedroom, and one two-bedroom apartment. Three units are fully furnished, offering immediate income generation. The building boasts a total net rentable area of 4,437 square feet and provides four parking spaces, one per unit. On-site laundry adds to the convenience for residents. The current annual rental income is $77,400 ($6,450 monthly), resulting in a strong net operating income (NOI) of $48,971 and a 9.10% capitalization rate. The asking price is $539,900, translating to $134,975 per unit. The property is zoned R1 and has a new Certificate of Occupancy, transferable and expiring 10/22/2027. Utilities are included in the rent for three furnished units