773 Meigs Street, Rochester, NY 14620

Property Description

RARE OPPORTUNITY TO OWN A TOTALLY RENO'D, PROVEN NOI/ROI WINNER IN THE RENTER-DENSE SOUTH WEDGE! WITH A 7.98% CAP RATE AND AMAZING 10.6% DEBT YIELD (80/20 MGT.), IT’S A NO-BRAINER FOR FIRST TIME INVESTORS AND EXPERTS!!!!! AMAZING OPPORTUNITY FOR INVESTORS OR OWNER-OCCUPANT PLUS RENTER! BOTH APARTMENTS HAVE OFF STREET PARKING, PRIVATE OUTDOOR SPACES, & GORGEOUS, RESTORED ENTRYWAY! A DESIGNER'S DREAM W/CHARMING FRONT PORCH AND 2ND STORY DECK- GORGEOUS FULL INTERIOR RENOVATIONS TOTALING OVER $75,000 INSIDE & OUT OF BOTH UNITS: RESTORED HARDWOODS, NEW CHARMING EAT IN KITCHENS, FAMILY ROOMS, BATHS, BEDROOMS! HUGE CAPITAL IMPROVEMENTS LIST INCLUDES: FULL EXTERIOR SIDING, 2014 TEAR OFF ROOF, HOT WATER TANKS(UPPER UNIT 2026), NEW WINDOWS 2012, AIR CONDITIONING 2019, AND GUTTERS 2019! DESIGNERS' HAND SELECTED FURNITURE, DÉCOR, AND CUSTOM CUT WINDOW TREATMENTS REMAIN FOR BUYER! EXISTING MGT CO. CAN REMAIN IN SERVICE TO NEW OWNER - CAN'T GET ANY EASIER!! CURRENTLY OPERATING AS A SHORT-TERM RENTAL, COULD BE LONG TERM. UPPER IS 2 BEDROOM/1 BATH W/PRIVATE 2ND STORY DECK. LOWER IS 1 BEDROOM/1 BATH W/PRIVATE PORCH. SEE ATTACHMENT FOR NOI AND EXPENSES. 773 MEIGS STREET IS 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 ROCHESTER, RIT, URMC, HIGHLAND HOSPITAL, THE CITY, AND BEYOND.