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34417226
34417227

2 Locations For Sale

DP
PA RS296752
Allegheny Multifamily
Listed by Allegheny Multifamily
$750,000
1 day on market
Updated 1 day ago

Franklin Avenue Apartments

Details
APN 233-E-204, 233-E-206
Property Type Multifamily
Sub Type Apartment Building
Units 12
Cap Rate 5.03%
NOI $37,735
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 9.39%
Pro-Forma NOI $70,447
Buildings 2
Stories 3
Acreage 0.190
Parking Spaces 6 spaces

Multifamily | 12 Units

Marketing description

Franklin Avenue Apartments offers investors the opportunity to acquire 12 units in the Pittsburgh submarket of Wilkinsburg. The property is two six unit buildings directly next to each other where the tenants pay electric and the owner pays water, sewer, trash and gas - heat. Each unit is a one bedroom, one bath unit. The windows are vinyl and the roof is in good condition. Currently, the owner does not accept section 8 which presents great upside.

Wilkinsburg sits directly on Pittsburgh's eastern border, just about 7 miles east of Downtown and wrapped on three sides by the city itself - minutes from East Liberty, Shadyside, and the Oakland job core. The location's real advantage is access: direct connections to the Parkway East (I-376) put tenants Downtown or at the airport in one straight shot, while Penn Avenue and Ardmore Boulevard (Route 30) feed east toward Monroeville and the eastern suburbs. Add the dedicated, traffic-free East Busway running straight into Downtown and Oakland, and renters reach the region's two largest employment centers on a fast, reliable commute - with or without a car. Few submarkets put tenants this close to the city's biggest job centers while keeping acquisition pricing this low.

Investment highlights

  • 12 units in Pittsburgh submarket of Wilkinsburg
  • Two six-unit buildings directly next to each other
  • Tenants pay electric, owner pays water, sewer, trash and gas-heat
  • Each unit is one bedroom, one bath
  • Vinyl windows and roof in good condition
  • Owner does not currently accept Section 8, presenting upside
  • Direct access to Parkway East (I-376)
  • Minutes from East Liberty, Shadyside, and Oakland job core
  • Dedicated East Busway provides fast commute to Downtown and Oakland
  • Low acquisition pricing for proximity to major employment centers

Listing Contacts

DP
PA RS296752
Allegheny Multifamily
Listed by Allegheny Multifamily

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$37,735.00
$3,144.58/mo

Valuation Metrics

0
DSCR
5.03%
Cap Rate
5.03%
ROI

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Additional Information

Name
David Poluszejko
License
RS296752
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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