321 Grove City Rd - Apartments FOR SALE


Slippery Rock, PA 16057
$1,360,000 USD
724-496-1745
321 Grove City Rd, Slippery Rock, PA for Sale
$1,360,000 USD
Apartments - FOR SALE
1/36
null | 8.01% Cap Rate

321 Grove City Rd
Slippery Rock, PA 16057


HIGHLIGHTS

  • Consistent 100% occupancy
  • Huge Value Adding potential
  • Built in 2006

OVERVIEW

Scenic Hill apartments at 321 Grove City Road. This turnkey investment is an extremely nice multifamily apartment building built in 2006. It consists of 17 units total. It features 5 single bedroom units, 11 two bedroom units, and 1 four bedroom unit. Located just outside the quiet town of Slippery Rock PA, this property consistently retains 100% occupancy with quality tenants (not student housing). This is a rare building with stabilized income on day one, with a huge upside for value addition. Please see Investment highlights for details. INVESTMENT HIGHLIGHTS: Current Rent Roll: 100% occupancy 1 Bedroom units: 1B $650 +$100 utility charge 2B $650 +$100 utility charge 3B $650 +$100 utility charge +$35 pet rent 4B $650 +$100 utility charge +$35 pet rent 5B $650 +$100 utility charge 2 Bedroom Units: 1A $600 +$100 utility charge 2A $600 +$100 utility charge 3A $650 +$100 utility charge 4A $600 +$100 utility charge 5A $600 +$100 utility charge 7 $750 (utilities paid by tenant) 8 $800 (utilities paid by tenant) 9 $750 (utilities paid by tenant) 10 $800 (utilities paid by tenant) 11 $800 (utilities paid by tenant) 12 $800 (utilities paid by tenant) 4 Bedroom Unit: 6 $1,000 +$160 utility charge GROSS $13,230 monthly $158,760 yearly EXPENSES: Repairs $1,678.74 Trash $2,563.21 Utilities $23,097.61 Taxes $16,884.14 Insurance $5,661.62 CURRENT NOI $108,874.68 VALUE-ADD HIGHLIGHTS: Pro Forma is based on actual 2026 local housing authority fair market rents for zip code 16057. 1 Bedroom units 1-5B with utilities included in rent $1034 per unit 2 Bedroom units 1-5A with utilities included in rent $1243 per unit 2 Bedroom units 7-12 with utilities paid by tenant $948 4 Bedroom unit 6 with utilities included in rent $1738 Pro Forma Gross $18,811 monthly $225,732 yearly Pro Forma NOI $175,849 Value-adding options include raising low rents to market standards and/or splitting utilities to eliminate utility expenses.

FOR SALE DETAILS

PRICE

$1,360,000 USD

PRICE/SF

$94 USD /SF

# OF UNITS

17

PRICE/UNIT

$80,000

CAP RATE

8.01%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2006

PARKING SPACES

20

LAND DETAILS

LAND ACRES

4.12 AC

LAND SF

179,467 SF

ZONING

Mixed Use

APN/PARCEL ID

510-S6-B5-0000

ASK ABOUT THIS PROPERTY

Amanda ShingletonBerkshire Hathaway HomeServices - ButlerMore Info
724-496-1745

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Amanda ShingletonBerkshire Hathaway HomeServices - ButlerMore Info
724-496-1745

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