659 Maryland Ave - Apartments FOR SALE


Pittsburgh, PA 15232- Shadyside
$1,125,000 USD
412-370-3505
659 Maryland Ave, Pittsburgh, PA for Sale
$1,125,000 USD
Apartments - FOR SALE
1/36
null | 6.05% Cap Rate

659 Maryland Ave
Pittsburgh, PA 15232
Shadyside


HIGHLIGHTS

  • Prime Shadyside location — strong rental demand
  • 100% occupied, all tenants on signed leases through 2026+ (4 through summer 2027)
  • 2 of 5 units fully remodeled (2024–2025) — proven rent lift over 12%
  • 3 remaining units are marketable as-is, but still have remodel upside
  • Consistent rent growth across all units since 2021 acquisition

OVERVIEW

Fully stabilized 5-unit apartment building in Pittsburgh's Shadyside neighborhood. The property features a mix of three 2-bedroom and two 1-bedroom units across 3 stories, generating $90,300 in annual rental income at 100% occupancy. Two units were fully remodeled in 2024-2025 with proven rent lifts to $1,625-$1,700/mo. Three units remain unremodeled with clear value-add upside supported by in-building remodel comps. New coin-op laundry (est $1,040/yr) installed Q1 2026. All tenants on signed leases through 2026+. Low 25.4% expense ratio with $68,105 NOI at current run rate and $74,994 pro forma NOI.

FOR SALE DETAILS

PRICE

$1,125,000 USD

PRICE/SF

$200 USD /SF

# OF UNITS

5

PRICE/UNIT

$225,000

CAP RATE

6.05%

% 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

0.07 AC

LAND SF

2,980 SF

ZONING

-

APN/PARCEL ID

0084-N-00334-0000-00

ASK ABOUT THIS PROPERTY

Jackie YamarickCompassMore Info
412-370-3505

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Jackie YamarickCompassMore Info
412-370-3505

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