178 Genesee Street, Unit 174
Description
Discover a unique investment opportunity in Rochester's thriving 19th Ward. This 13-unit commercial building, ideally situated in a rapidly evolving development zone, offers a blend of residential and commercial income potential. The property features 6 one-bedroom units, 4 two-bedroom units, and 3 commercial storefronts, each with its own separate utilities for efficient management. While the building requires some...Prime Development Opportunity: 13-Unit Commercial Building in Rochester's 19th Ward
Discover a unique investment opportunity in Rochester's thriving 19th Ward. This 13-unit commercial building, ideally situated in a rapidly evolving development zone, offers a blend of residential and commercial income potential. The property features 6 one-bedroom units, 4 two-bedroom units, and 3 commercial storefronts, each with its own separate utilities for efficient management. While the building requires some updates to maximize profitability, its strategic location and diverse unit mix present a compelling opportunity for investors seeking a solid return. A long-term tenant occupies the corner convenience store, providing a stable income stream. With nearby senior living development adding to the area's appeal, this property offers immense potential for future growth and value appreciation. There will be 2 group showings on the property in the coming week. Next group showing will be October 29th @ 1pm. Please text me if you plan on coming to property. When fully rehabbed and rented, property should have a 12-18% CAP rate. AVR on property should be in the $750k-$850k
- Listed by Michael Trippany • WCI RealtyP: (585)-723-8196 C: (585)-723-8196 mtrippanyhomes@gmail.com
Property Details for 178 Genesee Street, Unit 174
Property Details for 178 Genesee Street, Unit 174
| Status | Active |
|---|---|
| MLS # | R1570854 |
| Days on Market | 39 |
| Taxes | $14,034 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi Family / Commercial |
| Year Built | 1920 |
| Lot Size | 0.09 AC / 4,092 SF |
| County | Monroe County |
Building Information for 178 Genesee Street, Unit 174
Property Information for 178 Genesee Street, Unit 174
- Elementary School District: Rochester
- High School District: Rochester
- Middle Or Junior School District: Rochester
- Village: Not Applicable
- Human YN: Yes
- Garage Spaces per Apt: .00
- Garage YN: No
- Area NYSWIS Code: Rochester City-261400
- Tax Annual Amount: $14,034.00
- Building Area Source: Public Records
- Building Area Total: 14136.0
- Land Features: Near Public Transit, Residential Lot
- Num Of Acres: 0.0939
- Lot Size Area: 0.0939
- Lot Size Square Feet: 4092.0
- Lot Size Units: Acres
- Parcel Number: 261400-120-500-0002-032-000-0000
- Road Frontage: City Street, Main Thoroughfare
- Lot Number: 32
- Property Condition: Resale, Fixer
- Senior Community YN: No
- Assessed Value: $240,000
- Year Built: 1920
- Year Built Description: Existing
- Property Sub Type Additional: Commercial
- Electric Service: Circuit Breakers
- Num Of Electric Meters: 13
- Num Of Gas Meters: 13
- Sewer Description: Connected
- Utilities Available: Sewer Connected, Water Connected
- Water Supply: Connected, Public
- Construction Materials: Brick, Copper Plumbing
- Roof Description: Flat, Membrane, Rubber
- Appliances: Electric Oven, Electric Range, Gas Oven, Gas Range, Gas Water Heater, Refrigerator
- Basement Description: Full
- Basement YN: Yes
- Num Of Possible Bedrooms: 10
- Num Fireplaces Total Calculated: 0
- Fireplace YN: No
- Floor Description: Hardwood, Laminate, Tile, Varies
- Furnished: Unfurnished
- Heating: Gas, Forced Air
- Heating YN: Yes
- Sq Ft Total: 14136.0
- Main Level Bathrooms: 0
- Gross Annual Income: $123,000.00
- Net Operating Income: $70,966.00
- Number Of Units Total: 13
- Operating Expenses: $38,000.00
- Operating Expense Includes: Insurance, Maintenance, Professional Management, Trash, Water Sewer
- Stories: 3
- Stories Total: 3
- Rent Includes: Common Area Maintenance, Hot Water, Snow Removal, Trash Collection, Water
- Lease Amount Per Area Unit: Dollars Per Square Foot
Property History for 178 Genesee Street, Unit 174
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 178 Genesee Street, Unit 174
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 6 | |||
| Public - | PK to 8 | |||
| Public - | 9 to 12 | |||
| Public - | PK to 6 |
Rating | School | Distance |
|---|---|---|
School 29 Adlai E Stevenson PublicPK to 6 | ||
School 19 Dr Charles T Lunsford PublicPK to 8 | ||
Rochester Early College International High School Public9 to 12 | ||
School 4 George Mather Forbes PublicPK to 6 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of WCI Realty
Based on information from one of the following Multiple Listing Services: WNYREIS and Greater Binghamton Association of REALTORS. Information being provided is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by WNYREIS and Greater Binghamton Association of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.
