Fidelity Building
24 Units | 70 Beds | Downtown Pittsburgh
Marketing description
SVN Three Rivers Commercial Advisors is pleased to present for sale this 100% occupied mixed-use investment opportunity located in the heart of Downtown Pittsburgh, directly within Point Park University's urban campus. This 7-story mid-rise building, built in 1889 and renovated in 2005, comprises approximately 5,370 SF of street retail space and 5 Floors of 24 units, complemented by a long-term rooftop lease income that provides diversified cash flow.
The property has operated as student housing for approximately 20 years, with the residential units leased to Point Park students on 12-month lease terms, offering a consistent tenant base in a walkable, amenity-rich location. The building is fully sprinklered, has elevator access to all floors, and has security cameras throughout to ensure student safety. Onsite laundry is also available. Residents enjoy immediate access to campus, public transit, restaurants, entertainment, and Downtown employers. This turn-key investment offers excellent value-add potential, being one of the most affordable housing options for Point Park University students.
For more information and to inquire about the property visit: http://properties.svn.com/341FourthAve
Investment highlights
- Turn-key 24 unit, 70 bed student housing opportunity and ground-floor retail space with future upside following ABC Imaging lease expiration
- 100% occupied with a 20 year operating history. Additional income from rooftop cell tower leases, which extends through February 2045
- Desirable unit mix of two-bedroom and four-bedroom apartments, all with full kitchens
- Located steps from Point Park University, Pittsburgh Playhouse, public transit, restaurants, and Downtown employment centers
- Onsite laundry and security cameras throughout
- Value based housing offering upside for future rents
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