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1500 Fallowfield Ave 15 Unit Apartment Building $1,800,000 ($120,000/Unit) 7.51% Cap Rate Beechview, PA 15216
Investment Highlights
- Solid brick building located one block from the T Station
- Opportunity to increase rents to market levels
- Attractive unit mix: (13) 2BR's / (1) 1BR/ (1) Studio
Executive Summary
SVN | Three Rivers Commercial Advisors is pleased to present this 15 Unit apartment building located in the Beechview neighborhood of Pittsburgh. The units have separate gas and electric and central AC. Attractive unit mix: (13) 2BR's / (1) 1BR/ (1) Studio.
Property is located in Beechview, which has been undergoing a revitalization over the past couple years. The building is only a block from the T Station and 3 miles from Downtown Pittsburgh.
Property is located in Beechview, which has been undergoing a revitalization over the past couple years. The building is only a block from the T Station and 3 miles from Downtown Pittsburgh.
Property Facts
| Price | $1,800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $120,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 7.51% | Building Size | 10,050 SF |
| No. Units | 15 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2018 |
| Zoning | C | ||
| Price | $1,800,000 |
| Price Per Unit | $120,000 |
| Sale Type | Investment |
| Cap Rate | 7.51% |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 10,050 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2018 |
| Zoning | C |
Amenities
Unit Amenities
- Heating
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 500 |
| 1+1 | 1 | - | 695 |
| 2+1 | 13 | - | 700 - 850 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 0035-C-00020-0000-00 | Improvements Assessment | $345,000 |
| Land Assessment | $75,000 | Total Assessment | $420,000 |
Property Taxes
Parcel Number
0035-C-00020-0000-00
Land Assessment
$75,000
Improvements Assessment
$345,000
Total Assessment
$420,000
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1500 Fallowfield Ave
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