28 Unit Deal In Rochester, NY (owner open to creative financing)

[Matthew Drouin]

Hey everyone, I have a 28 mixed unit deal that I'm considering selling in Rochester, NY.  The reason being is that I have a redevelopment deal that I'd like to free up equity for.  Nothing time sensitive so I can be patient.

There are 26 residential apartments and two commercial storefronts.  One of the storefronts is a vintage clothing store and the other is a coffee shop.

Current gross revenue is $319629

Total Operating Expenses are $99,781

Net Operating Income $207,297

All of the apartments have been renovated with the exception of two, which are older residents who have been there a long time.

Our asking price is $3.2M.  We don't need the cash so we are willing to be patient and creative to customize a deal for a buyer.

The location is close to hospitals, and many area arts and cultural attractions.  Also the zoning allows for Short Term rentals which will give it an extreme compettitive advantage because the city if banning STRs throughout all other areas of the city.