Are you in the market for an investment property in Rochester? Look no further! We have an exciting opportunity for you – a Rochester investment property for sale. However, before we delve into the details, it’s important to note that this property is being sold “as is where is.”
One crucial aspect to consider when purchasing this property is that the buyer will be responsible for the current tenant. It is essential to establish a good relationship with the tenant and ensure a smooth transition. While this may require some extra effort, it also means you won’t have to worry about finding a new tenant right away.
Another important thing to note is that no Certificate of Occupancy (C of O) will transfer with the property. Typically, a C of O is a document issued by the local government certifying that a property meets specific building and safety standards. Although the absence of a C of O may seem like a disadvantage, it presents an opportunity for you to improve the property and bring it up to code, potentially increasing its value in the process.
Due to the property being sold as is, showings will not be available. This might seem unusual, but it’s not uncommon in the real estate market. However, this doesn’t mean you won’t have the opportunity to inspect the property before making a purchase. It’s crucial to conduct a thorough inspection to determine any necessary repairs or renovations, as this will factor into your investment decision.
Additionally, it is essential to respect the privacy and rights of the current tenant. The listing specifically states not to bother the tenant for any reason. This is crucial in maintaining a positive relationship with the tenant and ensuring a smooth transition. Once the property is officially yours, you’ll have the chance to communicate and address any concerns or issues they may have.
One positive aspect of this investment property is that the roof underwent a tear-off in 2020. This means that a new roof was installed recently, which can be a major advantage in terms of maintenance and potential future expenses. A solid roof is essential for the overall condition and value of a property, so this update should provide peace of mind for the new owner.
While this Rochester investment property for sale might come with some unique specifications, it also presents an opportunity for savvy investors. By taking on the responsibility of the current tenant and potential renovations to obtain a C of O, you can shape this property to fit your investment goals and potentially increase its value.
Remember, before making any purchase, it’s crucial to conduct thorough research, consult professionals, and assess your own investment strategy. If this opportunity aligns with your goals and you’re willing to put in the necessary effort, this Rochester investment property might just be the perfect addition to your portfolio.
581 Frost Avenue, Rochester, NY 14611