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Allegheny Ave 609 Allegheny Ave 4 Unit Apartment Building $369,000 ($92,250/Unit) 14.60% Cap Rate Glassport, PA 15045
INVESTMENT HIGHLIGHTS
- Fully Renovated Quad Plex
- Tenants Pay Utilities
- Annual Leases
EXECUTIVE SUMMARY
Notes for 607 – 609 Allegheny
• Inventory in Glassport is small — fourplexes are rare. Currently, 609 Allegheny is the only listing that matches all your criteria (4 units, move-in ready, 2-bedroom layouts).
• It’s a 4-unit quadplex, fully renovated (as of ~May 2024).
• In good condition: new kitchens, baths, flooring; updated plumbing (PEX, shutoffs), new hot water tanks; new gas furnaces (~90% efficient); new sewer lines. Some units have been upgraded with new electrical panels & windows.
• Tenants pay their utilities.
• Listed cap rate is 14.6%.
• Fully updated systems reduce risk of big deferred maintenance. That reduces future capital expenditure (CapEx) shocks.
• Tenants paying utilities is a plus — lowers the landlord’s expense burden.
• Being move-in ready means less initial cost for you (no big rehab needed).
• Price per unit is ˜ $92,250/unit (4 units) at the asking price.
• Lot size ~0.10 acres (˜4,499 sq ft), built in 1916.
• Taxes are relatively low: ~$3,636/yr.
• Nearby Nippon Steel’s $14.1 billion purchase of U.S. Steel
• Inventory in Glassport is small — fourplexes are rare. Currently, 609 Allegheny is the only listing that matches all your criteria (4 units, move-in ready, 2-bedroom layouts).
• It’s a 4-unit quadplex, fully renovated (as of ~May 2024).
• In good condition: new kitchens, baths, flooring; updated plumbing (PEX, shutoffs), new hot water tanks; new gas furnaces (~90% efficient); new sewer lines. Some units have been upgraded with new electrical panels & windows.
• Tenants pay their utilities.
• Listed cap rate is 14.6%.
• Fully updated systems reduce risk of big deferred maintenance. That reduces future capital expenditure (CapEx) shocks.
• Tenants paying utilities is a plus — lowers the landlord’s expense burden.
• Being move-in ready means less initial cost for you (no big rehab needed).
• Price per unit is ˜ $92,250/unit (4 units) at the asking price.
• Lot size ~0.10 acres (˜4,499 sq ft), built in 1916.
• Taxes are relatively low: ~$3,636/yr.
• Nearby Nippon Steel’s $14.1 billion purchase of U.S. Steel
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $369,000 | Apartment Style | Townhome |
| Price Per Unit | $92,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 14.60% | Building Size | 3,000 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 100% |
| Gross Rent Multiplier | 82.14 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1911/2024 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | MUL - Commercial Multi Unit | ||
| Price | $369,000 |
| Price Per Unit | $92,250 |
| Sale Type | Investment |
| Cap Rate | 14.60% |
| Sale Condition | Bulk/Portfolio Sale |
| Gross Rent Multiplier | 82.14 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 3,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1911/2024 |
| Opportunity Zone |
Yes |
| Zoning | MUL - Commercial Multi Unit |
AMENITIES
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | $1,151 | 720 |
1 1
PROPERTY TAXES
| Parcel Number | 0558-B-00174-0000-00 | Total Assessment | $71,400 (2025) |
| Land Assessment | $8,600 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $62,800 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
0558-B-00174-0000-00
Land Assessment
$8,600 (2025)
Improvements Assessment
$62,800 (2025)
Total Assessment
$71,400 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Allegheny Ave | 609 Allegheny Ave
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