Pending

1344 Dewey Avenue #1342

Rochester, NY 14613

$399,900 $1,685/Mo

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Overview

Bed

Bath

7,260

Sqft

0.14

Acre(Lot)

Description

10-Unit Value-Add Opportunity – Complete the renovations | 1342–1344 Dewey Ave Strong opportunity to acquire a 10-unit multifamily property with most of the heavy lifting already completed. This asset consists of 8 one-bedroom units and 2 basement studio units, offering immediate income potential with additional upside after remaining renovations are completed. C of O transfers to new buyer and expires November 2027. Property Highlights: • 10 total units: 8 one-bedroom, 2 studio (basement) • 8 units delivered with some renovations still needed to be done (basement units, up to 4 of the one bedrooms and some kitchens need some work) • Separate electric and cooking gas • Heat and hot water included • Updated interiors featuring newer kitchens, hardwood and vinyl plank flooring • Replacement windows and new exterior doors • Steam boiler (2020) • Security camera system included Value-Add Potential: The property has already undergone significant improvements, including remediation from minor neighboring fire impact. Finalize remaining updates to unlock additional income and force appreciation. Exterior & Major Systems: • Flat torch-down roof currently being freshly silver-coated • Clean mechanicals and solid infrastructure already in place Additional Parcel: • 1346 Dewey Ave included (separate parcel) – parking lot with existing garage (must be demolished) Investment Highlights: • Immediate cash flow from rent-ready units • Proven value-add without full renovation scope • Ability to increase income through unit completion and lease-up • Efficient path to stabilization and long-term returns Expenses before the fire next door: City tax: $5,056; County tax $2,424; Insurance $6,234; House meter utilities $6,000; Refuse $2,000 Cash buyers only or buyers with a bank term sheet from a bank willing to finance a vacant building in need of some renovations. The plan is group showings with the first not yet scheduled.

Property Details

Property Type : Residential Income

Price : $399,900

AD Id : 77065332

MLS Id : R1673600

Beds : 8

Lot Size : 0.14 Acre

Living Area Size : 7,260

Year Built : 1920

Garage : 1

County : Monroe

Subdivision: Cedar Crest

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 8

Room Information

Has Basement: Yes Basement: Partial
Flooring Information

Other, See Remarks
Roofing Information

Other, See Remarks
Interior Features

Roof: Other, See Remarks Appliances: Gas Water Heater, Water Heater
Heating & Cooling

Has Heating: Yes Heating: Hot Water, Natural Gas

Building Information

Year Built: 1920 Building Area Total: 7260 Construction Materials: Other, See Remarks Stories: 3 Private Pool: No

Lot Information

Lot Dimensions: 39X150 Main Square Feet: 0.1372 Acres Lot Size Acres: 0.1372 Lot Size Square Feet: 5975 Lot Description: Irregular Lot, Near Public Transit

Property Information

Subdivision: Mc Kee Source Property Type: Residential Income Property Age: 106

Listing Price Information

Listing Price: $399900 Original Price: $599900 Cash

Tax Information

Parcel Number: 261400-090-500-0003-056-000-0000 Tax Lot: 56 Annual Tax: $7481

Parking Information

Parking Total: 1 Garage, Paved

Garage Information

Has Garage: Yes Garage Space: 1

Utility Information

Sewer Connected, Water Connected
Location Information

Direction: Ridgeway to Dewey, turn South on Dewey WaterSource: Public

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
153 Seneca Parkway, Rochester, NY, 14613	$259,000	5	4	2,944	2,944 SqFt
185 Lexington Avenue, Rochester, NY, 14613	$139,900	4	2	1,723	1,723 SqFt
289 Emerson Street, Rochester, NY, 14613	$109,900	4	2	1,712	1,712 SqFt
258 Albemarle Street, Rochester, NY, 14613	$94,900	4	1	1,566	1,566 SqFt
907 Dewey Avenue, Rochester, NY, 14613	$155,000	4	2	1,404	1,404 SqFt
267 Alameda Street, Rochester, NY, 14613	$130,000	3	1	1,318	1,318 SqFt

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ByOwner last updated this listing 06/18/2026 @ 20:50

MLS: R1673600 LISTED BY: Mark Palazzo, Rich Realty 585-259-4050 SOURCE: Upstate New York Real Estate Information Services (UNYREIS)