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121-123 S Quarry st 12 Unit Apartment Building Offered at $650,000 at a 6.47% Cap Rate Mount Pleasant, PA 15666
Investment Highlights
- Strong In-Place Cash Flow with Value-Add Upside
- Legacy Tenants: Fully stabilized with many long-term tenants in place
- Major Capex Completed: Both front roofs replaced and the parking lot resealed in 2025. Full Renovation of one apartment as well
- Current NOI of $42,073 with a projected Pro Forma NOI of $56,473, offering a clear path to increased returns through mark-to-market rent adjustments
- Below-Market Rents with Mark-to-Market Opportunity: Residential rents averaging $617/month currently, with pro forma projections of $710/month
Executive Summary
SVN Three Rivers Commercial Advisors is pleased to present 121-123 South Quarry St for sale. This approximately 10,000 SF property sits on a 0.28-acre parcel and features a unit mix of (8) two-bedrooms and (4) one-bedroom apartments. The asset is fully stabilized with long-term tenants and strong in-place cash flow, generating a current NOI of $43,579 with a projected Pro Forma NOI of $56,473. Current average rents of $617 per month are below market, providing a clear value-add opportunity through mark-to-market rent increases to approximately $710 per month. Recent capital improvements include the replacement of both front roofs and parking lot resealing in 2025, as well as a full renovation of one apartment unit, minimizing near-term capital expenditure needs and offering investors a stable, income-producing asset with upside potential.
Property Facts
| Price | $650,000 | Apartment Style | Low-Rise |
| Price Per Unit | $54,167 | Lot Size | 0.28 AC |
| Sale Type | Investment | Building Size | 10,000 SF |
| Cap Rate | 6.47% | No. Stories | 2 |
| No. Units | 12 | Year Built | 1978 |
| Property Type | Multifamily |
| Price | $650,000 |
| Price Per Unit | $54,167 |
| Sale Type | Investment |
| Cap Rate | 6.47% |
| No. Units | 12 |
| Property Type | Multifamily |
| Apartment Style | Low-Rise |
| Lot Size | 0.28 AC |
| Building Size | 10,000 SF |
| No. Stories | 2 |
| Year Built | 1978 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | - |
| 1+1 | 4 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 21-01-14-0-268 | Improvements Assessment | $72,400 |
| Land Assessment | $14,000 | Total Assessment | $86,400 |
Property Taxes
Parcel Number
21-01-14-0-268
Land Assessment
$14,000
Improvements Assessment
$72,400
Total Assessment
$86,400
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