NEW 9 Unit Package

4 properties

20150128_190823
20150306_092310
20141024_120240
20150306_092434
20150306_092345
20150306_092237
20150306_092058
20150128_190939
20151127_131552
20151127_131523
20141104_130351
20141104_125900
20141024_120251
20141024_120324
20141024_120302
0602171539e
0602171541a
0602171539
0602171539d
0602171552b
0602171540f
0602171541b
2012-01-11_12-04-27_483
2013-01-14_15-55-44_780
2013-01-14_15-59-38_718
2013-01-14_15-59-19_868
20150306_092542

6 UNITS IN CONTRACT. ONE 3 UNIT PROPERTY    REMAINS 434-438 EMERSON- NOW DISCOUNTED

Includes 434-438 Emerson St., 613-615 Magee Ave., 971 Norton St. and 740-742 North St.

9 units total in 4 different properties Great cash flow with $103,200.00 in gross rents and a 21.20% CAP rate

These units with updated rent amounts (section 8 rates) could take in a lot more money. See the spreadsheets

All of these properties are very nice to excellent  neighborhoods in Rochester NY. Consisting of many owner occupants The demographics range from working class to young professional people. These are all turnkey high end Units.

These properties have been renovated and maintained to the highest standard to insure rent-ability and low maintenance. The interiors have varying color schemes but all use paint colors from a selection of standard colors. Enabling a landlord to have crew members do quick wall touch ups at turnover. Without having to paint entire rooms. Plumbing has been replaced to insure optimum low maintenance. 

These units show very well and the goal of the owner has been to have the best product in the market so he can choose the best tenants.A typical showing will result in as many as 20 applicants from which the owner selects the best. All of the current tenants are working people with good jobs with the exception of one tenant who is retired.The tenants are all good on time payers.

The houses are located relatively close together and the farthest apart houses can reached in about 10 minutes.

All of the houses are on a master key system to aid in maintenance and rent collection. 

3 of these properties are in contract. one 3 unit property remains click above on 434-438 Emerson

Financial

Price: 409,600.

units: 9

Price per unit: 45,511.

monthly rent $8,600.00**

annual rent $103,200.00

Annual expenses: 16,353.

Net annual income $86,846.00

CAP rate 21.20%

Gross rent multiplier 3.97

** Rent amounts may not include discounts for long term tenants. Rent amounts shown do not reflect section 8 amounts which are more. See spreadsheets for more info.

 Section 8 subsidy

Heat:  10 Gas forced air

Electrical: 9 100 amp circuit breaker

Bedrooms: 24

Bathrooms: 11

Taxes: 12,863.

Insurance: 2,113.

Water: 1,377.

Square feet: 11,338

Lot size: varies

Acreage: .44

More Details

Break down of all apartments

1 bedroom apartments 3

3 bedroom apartments 4

4 bedroom apartments 1

5 bedroom apartments 1