221-227 Spencer Street, Rochester

Description

221 Spencer Street, Rochester, NY presents an opportunity to acquire a 5-unit multifamily asset in Rochester’s Edgerton neighborhood, offered at $299,900. This income-producing property features a desirable unit mix of four 2-bedroom apartments and one 1-bedroom apartment, with all utilities separately metered for streamlined management and expense control. Currently generating $4,375 per month in gross rental income, the property offers immediate cash flow with a defined rent roll in place. The Certificate of Occupancy transfers with the sale and is valid through December 2028, adding operational stability for the next owner. Annual operating expenses are reported at approximately $5,403 for taxes, $3,500 for insurance, $632 for water, and $832 for refuse. Located within Monroe County, the asset benefits from access to a large regional renter base, major employers, and a strong education and medical economy that supports long-term housing demand. Please allow 48 hours for showing requests to notify tenants. Please provide a proof of funds statement or a bank term sheet for financing before showing requests. Showings are weekdays 10 to 3.