1.5% Triplex in suburbs outside Rochester, NY

[Pete Fiannaca]

Hey BP - 

Don't have to sell, but figured I'd put this up here just in case someone was looking for something in the Rochester market. Full transparency, but I purchased this place about a month ago. Appraised for $178,000 and then had some work done after we closed (roof repairs, electrical repairs, plumbing repairs, and full interior painting). Boiler is only 3 years old. Lots of charm with original hardwoods through all 3 apartments. If I were to hold the property for 5 more years, I'd consider doing an exterior paint and starting to replace windows.

Great opportunity for cash flow at nearly $3,000/month for a property under $200K. Fair market rents should be raised when bringing new tenants in. Gas and electric are included in the rent (not separated). Rents should be $850/$1050/$1250. Taxes AND insurance are roughly $650/month. I currently have a mortgage on the property for roughly $155K. 

Looking for something that would be a cash deal. All tenants are on month to month leases for maximum flexibility for a new owner. At least 2 tenants highly desire to stay on for a 1 year lease.

Feel free to reach out via cell if interested. 

Pete

607-382-1247