305 Bessemer Ave - Apartments FOR SALE


East Pittsburgh, PA 15112
$585,000 USD
412-848-2016
305 Bessemer Ave, East Pittsburgh, PA for Sale
$585,000 USD
Apartments - FOR SALE
1/3
null | 9.67% Cap Rate

305 Bessemer Ave
East Pittsburgh, PA 15112


HIGHLIGHTS

  • New shared laundry room with exterior access
  • Stable in-place income with opportunity to push rents through cosmetic updates
  • Three renovated units: new kitchens, baths, LVP flooring, doors, and ceiling fans

OVERVIEW

Value-add 6-unit multifamily in East Pittsburgh with strong in-place income and submarket rent growth of 15%+ in the last year. Multiple upgrades recently completed. Three units have undergone full renovations including new LVP flooring, updated kitchens and baths, fresh paint, and lighting. A new laundry room was added by repurposing a former bedroom in Unit 1B, increasing tenant amenities and income potential. Additional improvements include new appliances, hot water heaters (2 units), ceiling fans, interior common area LED lighting, updated stairwell paint, and secured entry locks. All units are separately metered for Water and Electric. There is no gas service to the property. Four of six units are currently occupied by families, with three longer-term tenants providing stability. Room to increase rents through continued unit updates and professional management.

FOR SALE DETAILS

PRICE

$585,000 USD

PRICE/SF

$98 USD /SF

# OF UNITS

6

PRICE/UNIT

$97,500

CAP RATE

9.67%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

NC - Mixed-Use Commercial

APN/PARCEL ID

0375-P-00214-0000-00

ASK ABOUT THIS PROPERTY

Jesse CortezThe Colony AgencyMore Info
412-848-2016

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Jesse CortezThe Colony AgencyMore Info
412-848-2016

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.