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$325,000

Est. payment - /mo

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6 Beds

3 Baths

3,366 SqFt

Active

31 Genesee ST Geneva, NY 14456

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Michael Ablan

mike@marblekey.com +1(315) 286-3256

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Key Details

Property Type Multi-Family, Mobile Home

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,366 sqft

Price per Sqft $96

MLS Listing ID R1622153

Style Triplex

Bedrooms 6

Full Baths 3

Construction Status Existing

HOA Y/N No

Year Built 1880

Annual Tax Amount $5,300

Lot Size 0.280 Acres

Acres 0.28

Lot Dimensions 60X198

Property Sub-Type Multi Family

Property Description

Investor Opportunity: 31 Genesee Street in Geneva, NY is a fully occupied, low-capex 3-family property delivering a 11% cap rate on current operations, with an in-place NOI of $34,575/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.

Location

State NY

County Ontario

Area Geneva-City-320500

Rooms

Basement Partial

Interior

Interior Features Programmable Thermostat

Heating Gas, Hot Water

Flooring Hardwood, Luxury Vinyl, Tile, Varies

Fireplace No

Exterior

Utilities Available Sewer Connected, Water Connected

Roof Type Membrane,Rubber

Building

Lot Description Rectangular, Rectangular Lot, Residential Lot

Story 2

Sewer Connected

Water Connected, Public

Architectural Style Triplex

Level or Stories Two

Structure Type Brick

Construction Status Existing

Schools

Elementary Schools North Street Elementary

Middle Schools Geneva Middle

High Schools Geneva High

School District Geneva

Others

Senior Community No

Tax ID 320500-104-026-0001-046-000-0000

Acceptable Financing Cash, Conventional, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

Special Listing Condition Standard

Listed by NORCHAR, LLC 585-337-1764

NEARBY SCHOOL & BUSINESS

SCHOOLSPROPERTIES

Elementary Schools 4

2

North Street Elementary School

Public | 3 - 5
0

West Street Elementary School

Public | PK - 5
0

St Francis de Sales-St Stephen

Private | PK - 8
0

Children's Hours School

Private | PK - 2

Middle Schools 1

1

Geneva Middle School

Public | 6 - 8

High Schools 1

5

Geneva High School

Public | 9 - 12

School and business data provided by Attom Data.

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Michael Ablan

NYS Lic. R.E. Broker / Owner / CEO | License ID: 10491209935

+1(315) 286-3256

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31 Genesee ST Geneva, NY 14456

Michael Ablan

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOL & BUSINESS

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31 Genesee ST