773 & 777 Meigs Street, Rochester, NY 14620

Property Description

RARE OPPORTUNITY TO OWN 2 PROVEN NOI/ROI WINNERS IN THE HIGHLY RENTER-DESIRED SOUTH WEDGE! WITH A 7.1% CAP RATE AND AMAZING 9.6% DEBT YIELD (ASSUM. 80/20), IT’S A NO-BRAINER FOR FIRST TIME INVESTORS AND THE EXPERTS!!!!! AMAZING OPPORTUNITY FOR OWNER-OCCUPANT PLUS RENTER, TOO! SISTER PROPERTIES RIGHT NEXT DOOR TO EACH OTHER, FOR EASE OF MANAGEMENT AND MAINTENANCE! EACH HOUSE HAS A 2/1 AND A 1/1, WITH OFF STREET PARKING AND PRIVATE ENTRANCES! 773: DESIGNERS DREAM W/CHARMING FRONT PORCH AND 2ND STORY DECK- GORGEOUS FULL INTERIOR RENOVATIONS TOTALING OVER $75,000 IN BOTH APARTMENTS, RESTORED HARDWOODS, EAT IN KITCHENS, FAMILY ROOMS, BATHS, BEDROOMS! NEW A/C AND FULL EXTERIOR SIDING AND 2014 TEAR OFF ROOF! ALL FURNITURE/DÉCOR REMAINS! EXISTING MGT CO. CAN REMAIN IN SERVICE TO NEW OWNER. CURRENTLY OPERATING AS A SHORT-TERM RENTAL, COULD BE LONGER. UPPER IS 2 BEDROOM/1 BATH W/PRIVATE 2ND STORY DECK. LOWER IS 1 BEDROOM/1 BATH W/PRIVATE PORCH. 777: 12-MONTH RENTAL "WORK HORSE" WITH 0% VACANCY OVER LAST FIVE YEARS!! – ORIGINAL HARDWOODS, FULL KITCHENS, BATHS, WASHERS AND DRYERS IN EACH, W/ BASEMENT STORAGE. BOTH UPPER AND LOWER UNITS ARE RENTED: LOWER MTM WITH 2-YEAR TENANCY, UPPER 12-MONTH LEASE ENDS AUGUST, MAY RENEW. ADDITIONAL CAPITAL IMPROVEMENTS INCLUDE: HOT WATER TANKS, NEW ROOFS 2014, NEW WINDOWS 2012, AIR COND. 2019, GUTTERS 2019!! SEE ATTACHMENTS FOR INDIVIDUAL NOI AND EXPENSES, AND MORE DETAILED INFORMATION ON ALL. THESE PROPERTIES ARE LOCATED IN A CHARMING NEIGHBORHOOD WITHIN THE HISTORIC SOUTH WEDGE AREA, A VIBRANT CITY COMMUNITY WHERE YOU &/OR YOUR TENANTS ARE WITHIN WALKING DISTANCE TO ARTISAN FOOD/BAKE SHOPS, ECLECTIC RESTAURANTS, CAFES, AND BARS, THE GENESEE (RIVER) GATEWAY PARK, HIGHLAND PARK AND IT’S ANNUAL LILAC FESTIVAL. PLENTIFUL DEMAND FROM RENTERS WORKING OR LEARNING AT THE UNIV. OF ROCH, RIT, URMC, HIGHLAND HOSPITAL, THE CITY, AND BEYOND. SQUARE FOOTAGE DIFFERENCE IS THE TOTAL SQFT OF BOTH 773(1,652) & 777(1,686) COMBINED. TAX TOTALS ARE ALSO COMBINED. 773 MEIGS IS $9,111 TOTAL & 777 MEIGS IS $10,008 TOTAL. DELAYED NEGOTIATIONS UNTIL WEDNESDAY 8/5 @ 12:00PM.