321 Driving Park Avenue, Rochester

Description

Another Rockin’ Rochester Property. Exceptional 17-unit mixed-use investment opportunity with commanding corner presence in Rochester’s historic Edgerton neighborhood! 321–331 Driving Park Avenue combines classic brick architecture, tremendous character and multiple income streams with a strong 9.06% cap rate. The property consists of 14 residential apartments—10 one-bedroom and 4 studio units—plus 3 street-level commercial storefronts, creating a diversified residential and commercial income base.

The building has been well maintained while preserving the character that makes this property stand out. Residential units feature gleaming hardwood floors, vinyl windows and bright, airy living spaces. Electric and cooking gas are separately metered, while professionally leased and serviced on-site laundry equipment provides additional convenience. Fourteen basement storage units offer further potential for additional revenue.

Ownership has continued to reinvest in the property with significant recent improvements including a GACO roof (2024), Bradford White hot water tank under warranty (2026), new professionally leased laundry equipment (2025), keyless entry system (2025), Arlo camera system (2025), and upgraded LED lighting throughout common areas, exterior and Store 2 (2026).

A brand-new Certificate of Occupancy will be provided at closing. With its prominent corner location, attractive brick façade, strong unit mix, multiple revenue streams, recent capital improvements and compelling 9.06% cap rate, this is an opportunity to acquire a distinctive Rochester mixed-use asset with both immediate income and future upside.