55 Bennington Drive, Rochester, NY 14616

$1,750,000
17,976
SqFt
List Price
$1,750,000
Status
A-ACTIVE
MLS#
R1166170
Year Built
1969
Dom
1
Stories
2
Acres
1.14
Living Area
17,976
Subdivision
Town Lt
Region
Not Applicable
Neighborhood
Maplewood

Property Description

Current owners have owned the property for two years, in which they have leased up and stabilized the asset, leaving a prospective buyer with considerable upside in net operating income from completing the current owners renovation schedule (bringing rents up to market rent) and normalizing expenses over the short term. Rents are steadily being increased as units turn over with no sign of market resistance even above $1100 for renovated units. Normalizing insurance, landscaping, snow removal, refuse removal, and utility expenses also present great opportunities to push Net Operating Income without capital intensive projects. Another consideration for capturing value is sub-metering for water/sewer at the subject property which is commonplace in the MSA among town home communities.

Additional Information

Taxes
$45,097
Floor
Ceramic-Some, Vinyl-Some, Wall To Wall Carpet-Some
Exterior
Brick
School District
Rochester
Water
Public Connected
Sewer
Sewer Connected

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of ROC Real Capital, LLC.

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All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s) nor Real Estate Company shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2019 CNYIS, GENRIS, WNYREIS. All rights reserved.