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The Irene 44 Genesee St

12 Unit Apartment Building $1,693,877 CAD ($141,156 CAD/Unit) 8.25% Cap Rate Geneva, NY 14456

Apartment Buildings New York Geneva 44 Genesee St, Geneva, NY 14456

Investment Highlights

  • Fully Gutted and Renovated
  • Located within a mile of Seneca Lake and numerous retail amenities
  • Dedicated surface parking
  • Close proximity to the hospital and colleges offers built in prospective renters
  • Brand new appliances
  • Coin operated laundry

Executive Summary

Twelve-unit apartment building in The Historic North neighborhood of Geneva. This apartment building has been fully gutted and renovated and fully leased within months. Improvements include:
-Full building electrical service upgrade
-New steam boiler
-Hot water heaters
-All 12 units fully gutted and renovated
-Renovation of the common areas of the building
-New windows
-Fire doors replaced to meet code
-Brand new appliances in all 12 units
-New gutters
-Exterior stucco and sheathing
-Sidewalks and walkways replaced
-Laundry room added with coin operated equipment
Property offers a dedicated surface lot for one car parking per unit. Street parking is also available.
Location is 4/10 of a mile from Geneva General Hospital and approximately one mile from Hobart and William Smith Colleges offering a steady pipeline of renting prospects.
The north end of Seneca Lake is located within a mile from the property, along with many retail amenities.

Financial Summary (Actual - 2024) Click Here to Access

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income - -
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2024) Click Here to Access

Gross Rental Income (CAD)
Annual -
Annual Per SF -
Other Income (CAD)
Annual -
Annual Per SF -
Vacancy Loss (CAD)
Annual -
Annual Per SF -
Effective Gross Income (CAD)
Annual -
Annual Per SF -
Net Operating Income (CAD)
Annual $99,999
Annual Per SF $9.99

Property Facts

Price $1,693,877 CAD Building Class C
Price Per Unit $141,156 CAD Lot Size 0.32 AC
Sale Type Investment Building Size 11,802 SF
Cap Rate 8.25% Average Occupancy 100%
No. Units 12 No. Stories 3
Property Type Multifamily Year Built/Renovated 1900/2024
Property Subtype Apartment Parking Ratio 1.1/1,000 SF
Apartment Style Low Rise Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Price $1,693,877 CAD
Price Per Unit $141,156 CAD
Sale Type Investment
Cap Rate 8.25%
No. Units 12
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.32 AC
Building Size 11,802 SF
Average Occupancy 100%
No. Stories 3
Year Built/Renovated 1900/2024
Parking Ratio 1.1/1,000 SF
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Amenities

  • Air Conditioning
  • Dishwasher
  • Disposal
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower
  • Freezer
  • Pantry

Site Amenities

  • 24 Hour Access
  • Controlled Access
  • Tenant Controlled HVAC
  • Walk-Up
  • Smoke Detector
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Walk Score ®
Very Walkable (73)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number 320500-104-026-0001-075-000-0000 Improvements Assessment $323,613 CAD (2023)
Land Assessment $40,045 CAD (2023) Total Assessment $363,658 CAD (2023)

PROPERTY TAXES

Parcel Number
320500-104-026-0001-075-000-0000
Land Assessment
$40,045 CAD (2023)
Improvements Assessment
$323,613 CAD (2023)
Total Assessment
$363,658 CAD (2023)
(585) 613-5370

Contact

  • Listing ID: 33398753

  • Date on Market: 2024-10-03

  • Last Updated:

  • Address: 44 Genesee St, Geneva, NY 14456

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44 Genesee St, Geneva, NY for sale Site Plan- Image 13 of 14
44 Genesee St survey

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The Irene | 44 Genesee St
(585) 613-5370 x

The Irene | 44 Genesee St

Steve Soja

(585) 613-5370

(585) 613-5370

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