This Multifamily Property is Off-Market.

1050 Nineteen North Drive
Pittsburgh, PA 15237 ·

186 Units · Multifamily For Sale

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The Oaks of McCandless

Price N/A Property Use Type Investment
No. Units 186 Cap Rate 7.96%
Building Size 176,547 SF Year Built 1972
Property Type Multifamily Lot Size 14.92 AC
Property Sub-type Garden/Low-Rise
Listing ID: 14764520 Date Created: 08/24/2006 Last Updated: 03/23/2007

Description

On behalf of the Owners, CBRE extends to qualified investors the opportunity to acquire the fee simple interest in The Oaks of McCandless, a 186 unit apartment/townhouse community. Built in 1972, the Property has been very well maintained and is in excellent condition. The most recent renovation has been replacement of all the HVACs. The apartments and townhomes at The Oaks are extremely spacious averaging 950 square feet. The unit mix is excellent with 47% of the units having two bedrooms and 16% having three bedrooms. This offering is for principals only, and any buyer's broker must be compensated in full by the buyer.

The Oaks of McCandless is conviently located within 25 minutes of downtown Pittsburgh, the Greater Pittsburgh International Airport, Interstate 79, and the Pennsylvania Turnpike. Its convenient location to schools, hospitals, shopping, and recreational facilities gives The Oaks a competitive advantage. The excellent location and desirable unit sizes gives this asset a potential condo conversion exit strategy, particularly with the townhomes.

Highlights

  • Excellent North Hills Location
  • Very Well Maintained
  • Stable Cash Flow
  • Priced Below Replacement Cost
  • Excellent Rental History

Research

1050 Nineteen North Drive, Pittsburgh, PA 15237 (Allegheny County)

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