527 Court Pl
Pittsburgh, PA 15219
Cambridge Building · Office Property For Sale

This terrific building of three-stories has a finished lower level for a total of four floors of usable commercial space. Zoning is Golden Triangle, which allows for flexible usage, such as office, retail, residential, and restaurant. Currently, the upper two floors are being used as a residential townhouse with a lease expiring on April 30, 2019 and available for renewal. It consists of four bedrooms, huge open concept living room and den, two full bathrooms with laundry, dining and kitchenette and large pantry. The lower two floors are available now and move-in ready as office space and furnished. That area consists of a reception room, six offices, secretary room, conference room or second reception room, and two bathrooms with ample storage room. (The prior owner of the building was a law firm with over 12 offices.) Furniture is included in the sale. List price is based on 4,000 square feet, which could be rented at a conservative $18/ square foot. Thus, the building is capable of being rented for $6,000 per month. If a buyer finances 80% of the list price, the monthly mortgage on the building would be $3,900 (20-year loan at 6% interest). Property taxes and insurance are currently under $700 per month. Thus, the building has the capacity to pay for itself and generate a profit of nearly $1,400 per month. With some minor modifications, the second and third floors could each be a three-bedroom apartment. The current owners have had no problem renting to students attending Point Park University and surrounding schools. Each of the six students could pay $500 plus utilities and the office tenant could pay $3,000 plus utilities. Although the building was constructed around 1921, it is in great condition with no major defects or significant repairs needed. Signage on the building would have great exposure to passing traffic on Court Place, Boulevard of the Allies, and possibly Mount Washington. Around the corner from state and municipal courts and other city/ county government offices. The building is also ideal for an owner desiring to live above his or her professional office in a spacious townhome. Quiet, green park across the street, and the building is nestled beside restaurants and a coffeehouse. Law offices, financial brokerage, and architectural firm are along Court Place. The rooms have high, suspended ceilings, and the building is mostly carpeted with a bamboo floor in the conference room and tile in the office bathrooms.