700 Mckean Ave - Apartments FOR SALE


Donora, PA 15033
$1,595,000 USD
412-227-1400
700 Mckean Ave, Donora, PA for Sale
$1,595,000 USD
Apartments - FOR SALE
1/17
null | Request Cap Rate

700 Mckean Ave
Donora, PA 15033


HIGHLIGHTS

  • Six-story, 22-unit multi-family building situated on a 0.101 acre parcel.
  • Four off-street parking spaces and free on-street parking.
  • This property is being offered for sale by a Lender who has foreclosed on the property.
  • This is a HUD property under a Housing Assistance Payment Contract until August 13, 2031.
  • The property is being offered in as-is, where-is condition.

OVERVIEW

Baker Young Corporation as exclusive agent is pleased to offer for sale a six-story, 22-unit multi-family building situated on a 0.101 acre parcel with four off-street parking spaces and free on-street parking located at 700-702 McKean Avenue, Donora, Pennsylvania 15033. This property is being offered for sale by a Lender who has foreclosed on the property. This is a HUD property under a Housing Assistance Payment Contract until August 13, 2031. During the foreclosure process and change in Ownership, the rental payments from HUD have fallen into an arrears with approximately $150,000 due from HUD once all required submittals are received by HUD. For the purposes of estimating the NOI for the property, the Gross Potential Income was estimated by applying the contract rent to all vacant units and applying a 6.2% vacancy/credit loss. The operating expenses were estimated based upon industry standards and testing expense assumptions against the first 5 months of 2025 operating expenses. The property is being offered in as-is, where-is condition, with an asking price of $1,595,000.

FOR SALE DETAILS

PRICE

$1,595,000 USD

PRICE/SF

$99 USD /SF

# OF UNITS

22

PRICE/UNIT

$72,500

CAP RATE

Request Cap Rate

% LEASED

70%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Donora Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

1950

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,372 SF

ZONING

R3

APN/PARCEL ID

2400130004000100

ASK ABOUT THIS PROPERTY

James MalanosBaker Young CorporationMore Info
412-227-1400

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James MalanosBaker Young CorporationMore Info
412-227-1400

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