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15 S 14th St 3 Unit Apartment Building Offered at $650,000 at a 6.70% Cap Rate Pittsburgh, PA 15203
Investment Highlights
- Central location on Pittsburgh's South Side flats
- Highly sought after area for rentals
- Increased revenue potential
- 3 - 1 bedroom apartments and detached garage with 6 individual enclosed bays
- Highy desirable area for working professionals
Executive Summary
Multi-family triplex on the market for the first time. Situated in a prime location on Pittsburgh's historic south side flats, the property features three 1-bedroom, 1-bath units plus a large freestanding garage with 6 individual enclosed bays. Two spacious apartments on fl1 & fl2 respectively, are currently rented with a third unit fl3, awaiting your new tenant or owner-occupied option. All 6 garages are fully rented. An unexpected and lovely feature is the large, fenced-in, private garden courtyard. Solid building with coin laundry (one washer, one dryer) in basement. Newer gas boiler heat throughout building; tenants are able to adjust their own heat.
Proforma rents, along with tax assessment following purchase, would provide a healthy 6.7% cap rate. Improved rents beyond proforma rate is a definite possibility with some building updates. This could easily enhance property revenue for your investment portfolio. Garages add lucrative rental possibilities in an area that has mostly on-street parking.
Requires 48 hours notice. Buyers must provide proof of funds for 25% of purchase price ($162,500.00) in order to schedule a showing.
***Special Twilight Tour on 19 August from 5-7pm. No POF required.
Proforma rents, along with tax assessment following purchase, would provide a healthy 6.7% cap rate. Improved rents beyond proforma rate is a definite possibility with some building updates. This could easily enhance property revenue for your investment portfolio. Garages add lucrative rental possibilities in an area that has mostly on-street parking.
Requires 48 hours notice. Buyers must provide proof of funds for 25% of purchase price ($162,500.00) in order to schedule a showing.
***Special Twilight Tour on 19 August from 5-7pm. No POF required.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$55,800
|
$20.04
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$55,800
|
$20.04
|
| Taxes |
$8,475
|
$3.04
|
| Operating Expenses |
$4,000
|
$1.44
|
| Total Expenses |
$12,475
|
$4.48
|
| Net Operating Income |
$43,325
|
$15.56
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $55,800 |
| Annual Per SF | $20.04 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $55,800 |
| Annual Per SF | $20.04 |
| Taxes | |
|---|---|
| Annual | $8,475 |
| Annual Per SF | $3.04 |
| Operating Expenses | |
|---|---|
| Annual | $4,000 |
| Annual Per SF | $1.44 |
| Total Expenses | |
|---|---|
| Annual | $12,475 |
| Annual Per SF | $4.48 |
| Net Operating Income | |
|---|---|
| Annual | $43,325 |
| Annual Per SF | $15.56 |
Property Facts
Amenities
Site Amenities
- 24 Hour Access
- Courtyard
- Fenced Lot
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Trash Pickup - Curbside
- Vintage Building
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,250 | - |
1 1
Exceptionally walkable
100/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
70/100
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Contact the Sale Advisor
15 S 14th St