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- LoopNet Team
671 5th St
Oakmont, PA 15139
*9 Oakmont units: 3 parcels | market CAP: 17% · Multifamily Property For Sale
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9 Units
PROPERTY FACTS
| No. Units | 9 | Building Size | 5,000 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Building Class | C | Year Built/Renovated | 1886/2010 |
| Lot Size | 0.46 AC | ||
| Zoning | Residential | ||
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 5,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1886/2010 |
| Zoning | Residential |
ABOUT 671 5TH ST , OAKMONT, PA 15139
____ THE BRIEF: Oakmont 9-unit turn-key package-of-three - 8/9 rented, at “grandfathered” rates ? some tenants there since 1980s - they + the owners are moving on for the next buyer to collect modern profits! Will only progress with area popularity. admitted "RENTS EXTREMELY LOW FOR THE AREA" current total monthly rent: $4440 potential total monthly rent as-is (*more w/updates): $9,750 Notes: • all hot water tanks (7) replaced in past ˜5 years • most are forced air o College Ave. converted from boiler in 2007 (92% efficiency unit) o other furnaces replaced 2013; 2014 o 4/5 5th St. units are electric baseboard heat • all 1-2 blocks from main drags / walkable o eg, Oakmont Bakery & Tavern, Riverside High, The Oaks Theater • duplexes have large units (nearly 6,000 sq. ft. across them) • all current tenants are solid #s of this collection: • current cap (per actual 2018 expenses): 5.75% at 8/9 occupied; 7.00% @ 100% occupancy • cap @ full rental capacity: 16.77% @ 5% vacancy (perhaps up to 20.28% / $106.5k NOI if opt to update) ______ • current asking price: $525k • current value: $635k • ARV: $700k+ SPECS 671 5TH STREET, 15139: 5-UNIT • five 1BRs; varying sizes • 1 tenant acts as caretaker - might want to keep him! • total rent: $2,310 + electric (1 pays gas) • potential rent: $4,175 total 408-410 COLLEGE AVENUE, 15139: 3,116 SQ. FT. DUPLEX • 7BR/3.5BA - side-by-side o 1 - 4/2.5 o 1 - 3/1 • 3-car garage (rented) • total rent: $1,580 + full utilities • potential rent: $3,275 total 507 WASHINGTON AVENUE, 15139: 2,722 SQ. FT. DUPLEX • 5BR/2BA – up-&-down package o 1 – 2/1 o 1 – 3/1 • 1 recently vacant; other to be vacated soon • total rent was: $1100 + full utilities (currently $550) • potential rent: $2,300 total _______________________ Taxes: $10,513 (3433+3933+3147) Electric: Updated Plumbing: Updated Kitchen: Sufficient (all) Bath: Mostly updated Roof: Good shape (all) Furnace: All newer H2O tank: All less than 5 years old Windows: Double-paned 671 5th St: (5) 1 BR / 1 BA | 408-410 College Ave: (1) 4 BR / 2.5 BA ; (1) 3 BR / 1 BA | 507 Washington Ave: (1) 2 BR/ 1 BA; (1) 3 BR / 1 BA Parking: Off-street (3-car garage); on-street Rental Income: $4,440/mo Rental Potential: $9,750+/mo
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | $637.50 | - |
| 4+2 | 1 | $1,088 | 1,750 - 2,000 |
| 3+1 | 2 | $1,063 | 1,200 - 1,750 |
| 2+1 | 1 | $787.50 | 1,000 - 1,199 |
PROPERTY TAXES
| Parcel Number | 0363-C-00208-0000-00 | Improvements Assessment | $71,400 |
| Land Assessment | $37,700 | Total Assessment | $109,100 |
PROPERTY TAXES
