1344 Dewey Avenue, Rochester

Description: 10-Unit Value-Add Opportunity – Complete the renovations | 1342–1344 Dewey Ave Strong opportunity to acquire a 10-unit multifamily property with most of the heavy lifting already completed. This asset consists of 8 one-bedroom units and 2 basement studio units, offering immediate income potential with additional upside after remaining renovations are completed. C of O transfers to new buyer and expires November 2027. Property Highlights: • 10 total units: 8 one-bedroom, 2 studio (basement) • 8 units delivered with some renovations still needed to be done (basement units, up to 4 of the one bedrooms and some kitchens need some work) • Separate electric and cooking gas • Heat and hot water included • Updated interiors featuring newer kitchens, hardwood and vinyl plank flooring • Replacement windows and new exterior doors • Steam boiler (2020) • Security camera system included Value-Add Potential: The property has already undergone significant improvements, including remediation from minor neighboring fire impact. Finalize remaining updates to unlock additional income and force appreciation. Exterior & Major Systems: • Flat torch-down roof currently being freshly silver-coated • Clean mechanicals and solid infrastructure already in place Additional Parcel: • 1346 Dewey Ave included (separate parcel) – parking lot with existing garage (must be demolished) Investment Highlights: • Immediate cash flow from rent-ready units • Proven value-add without full renovation scope • Ability to increase income through unit completion and lease-up • Efficient path to stabilization and long-term returns Expenses before the fire next door: City tax: $5, 056; County tax $2, 424; Insurance $6, 234; House meter utilities $6, 000; Refuse $2, 000 Cash buyers only or buyers with a bank term sheet from a bank willing to finance a vacant building in need of some renovations. The plan is group showings with the first not yet scheduled.