367 Genesee St
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367 Genesee St
7 Unit Apartment Building $850,482 CAD ($121,497 CAD/Unit) 12.83% Cap Rate Rochester, NY 14611
Investment Highlights
- Townhome Style Apartments
- Located on a Bus Line
- Tenant Paid Utilities
- Basement Storage
Executive Summary
This 7-unit multifamily property offers a fantastic investment opportunity. Each townhome-style apartment features 1,100 SF of living space, 3 bedrooms, and one bathroom. It also includes a full basement and attic for ample storage. The units come equipped with a refrigerator and stove, making them move-in ready for tenants.
All units have separate utilities paid by tenants, ensuring low operating expenses for the owner. With market rents averaging $1,400/month for similar 3-bedroom homes, the fully leased potential gross income (PGI) is $9,800/month. One unit is currently occupied, leaving six available to lease and capitalize on the income potential.
All units have separate utilities paid by tenants, ensuring low operating expenses for the owner. With market rents averaging $1,400/month for similar 3-bedroom homes, the fully leased potential gross income (PGI) is $9,800/month. One unit is currently occupied, leaving six available to lease and capitalize on the income potential.
Financial Summary (Pro forma - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$166,694
|
$21.56
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$8,335
|
$1.08
|
| Effective Gross Income |
$158,360
|
$20.48
|
| Taxes |
$16,791
|
$2.17
|
| Operating Expenses |
$32,426
|
$4.19
|
| Total Expenses |
$49,217
|
$6.37
|
| Net Operating Income |
$109,142
|
$14.12
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $166,694 |
| Annual Per SF | $21.56 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $8,335 |
| Annual Per SF | $1.08 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $158,360 |
| Annual Per SF | $20.48 |
| Taxes (CAD) | |
|---|---|
| Annual | $16,791 |
| Annual Per SF | $2.17 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $32,426 |
| Annual Per SF | $4.19 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $49,217 |
| Annual Per SF | $6.37 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $109,142 |
| Annual Per SF | $14.12 |
Property Facts
| Price | $850,482 CAD | Apartment Style | Low Rise |
| Price Per Unit | $121,497 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 12.83% | Building Size | 7,732 SF |
| Gross Rent Multiplier | 5.1 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1910/2022 |
| Property Subtype | Apartment |
| Price | $850,482 CAD |
| Price Per Unit | $121,497 CAD |
| Sale Type | Investment |
| Cap Rate | 12.83% |
| Gross Rent Multiplier | 5.1 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.30 AC |
| Building Size | 7,732 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1910/2022 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 7 | $1,984 CAD | 1,100 |
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Walk Score ®
Very Walkable (70)
PROPERTY TAXES
| Parcel Number | 261400-120-660-0001-044-000-0000 | Total Assessment | $255,965 CAD (2023) |
| Land Assessment | $18,986 CAD (2023) | Annual Taxes | $16,791 CAD ($2.17 CAD/SF) |
| Improvements Assessment | $236,978 CAD (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
261400-120-660-0001-044-000-0000
Land Assessment
$18,986 CAD (2023)
Improvements Assessment
$236,978 CAD (2023)
Total Assessment
$255,965 CAD (2023)
Annual Taxes
$16,791 CAD ($2.17 CAD/SF)
Tax Year
2024
zoning
| Zoning Code | R-2 (Medium Density) |
| R-2 (Medium Density) |
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367 Genesee St
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