Active

31 Genesee Street
Geneva City, NY 14456

$325,000
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Property Description

Investor Opportunity: 31 Genesee Street in Geneva, NY is a fully occupied, low-capex 3-family property delivering a 10% cap rate on current operations, with an in-place NOI of $32,400/year. The building features three (3) separately metered, 2 Bedroom, 1 Bath apartments across three levels, including an upper unit with a private rear stairway entrance and a dedicated mudroom/storage area. The main level includes a shared storage room for larger items which is accessible to Apartments 2 and 3. Operational highlights include keypad entry, a secured utility room for mechanicals and owner storage, a new sewer line from the street, new membrane roof, and a newer boiler & hot water heater. The property is fully occupied and will included all landlord-owned appliances at closing. Tenants pay for internet and electric in addition to rent. The property is professionally managed by a local management company whom could continue oversight for a new owner if preferred. The property will trade with a fresh Certificate of Occupancy, minimal capital expenditure needs, and strong rental demand in the Geneva market. This stabilized triplex checks all the boxes for investors seeking solid returns and low operational overhead.

Details

Interior Features: Programmable Thermostat
Utilities: Sewer Connected, Water Connected
Flooring: Hardwood, Luxury Vinyl, Tile, Varies
Basement: Partial
Heating: Gas, Hot Water
Architectural Style: Triplex
Construction Materials: Brick
Lot Dimensions: 60 X198
Lot Size: 0.28
Roof: Membrane, Rubber
Sewer: Connected
Water: Connected, Public
Parking: Paved, Parking Available, Two Or More Spaces