Charlotte Square
Multifamily | 72 Units
Marketing description
CBRE Upstate NY has been retained as the exclusive broker for the sale of Charlotte Square at the East End, a 72-unit multifamily property in Rochester, New York. The property is located in Rochester‘s East End Neighborhood, one of the City‘s most vibrant and desirable areas. Positioned immediately adjacent to Downtown, the East End offers a walkable, mixed-use environment which has seen significant investment in recent years. Additional information about the property may be found on the property website www.50CharlotteSquare.com
Investment highlights
DEMAND FOR RENTAL SPACE - The property has consistently experienced high leasing demand, as evidenced by their continued leasing momentum, full occupancy and waiting list for units.
OPPORTUNITIES FOR NOI GROWTH - Modest operating adjustments, which are consistent with competing properties, will result in a material increase in NOI.
ACCESS TO LOCAL AMENITIES AND DEMAND DRIVERS - The property offers convenient access to many of the metro area‘s premier cultural amenities as well as numerous restaurants and services. In addition, Charlotte Square‘s proximity to Downtown Rochester and the businesses located there, provide an ongoing source of potential residents.
EXTREME BARRIERS TO ENTRY - Rapid construction cost growth and a drawn out entitlement process for zoning and other approvals has made the construction of new potentially competing properties increasingly cost prohibitive.
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