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Broadway Manor Apartments 1101 Broadway St 26 Unit Apartment Building $1,475,000 ($56,731/Unit) 8.53% Cap Rate East McKeesport, PA 15035
Investment Highlights
- 26 units with a mix of 8 studios and 18 one-bedroom units
- Covered Off Street Parking
- Easy Access to Downtown Pittsburgh - 13 miles southeast
- Upgraded electric panels
- Bus Stop located just a block away
Executive Summary
SVN Three Rivers Commercial Advisors is pleased to shared the opportunity to acquire Broadway Manor Apartments. The property consists of two buildings in East McKeesport with 26 units (mix of studios and one-bedroom units). The buildings provide off street parking (covered), coin op laundry, and easy access to public transit. Tenants are responsible for their own electric. Landlord pays all other utilities and charges a flat $50 per month utility fee to tenants. The utility charge is being increased to $75 a month per unit.
Property Facts
| Price | $1,475,000 | Building Class | C |
| Price Per Unit | $56,731 | Lot Size | 0.36 AC |
| Sale Type | Investment | Building Size | 25,593 SF |
| Cap Rate | 8.53% | Average Occupancy | 96% |
| No. Units | 26 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 0.26/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | C | ||
| Price | $1,475,000 |
| Price Per Unit | $56,731 |
| Sale Type | Investment |
| Cap Rate | 8.53% |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 25,593 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built | 1964 |
| Parking Ratio | 0.26/1,000 SF |
| Zoning | C |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | - | - |
| 1+1 | 18 | - | - |
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $345,400 | |
| Land Assessment | $48,000 | Total Assessment | $393,400 |
Property Taxes
Parcel Numbers
Land Assessment
$48,000
Improvements Assessment
$345,400
Total Assessment
$393,400
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Broadway Manor Apartments | 1101 Broadway St
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