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Donora Apartments 700 Mckean Ave 22 Unit Apartment Building $1,000,000 ($45,455/Unit) Donora, PA 15033
INVESTMENT HIGHLIGHTS
- Six-story, 22-unit multi-family building situated on a 0.101 acre parcel.
- This property is being offered for sale by a Lender who has foreclosed on the property.
- The property is being offered in as-is, where-is condition.
- Four off-street parking spaces and free on-street parking.
- This is a HUD property under a Housing Assistance Payment Contract until August 13, 2031.
EXECUTIVE SUMMARY
Baker Young Corporation as exclusive agent is pleased to offer for sale a six-story, 22-unit multi-family building situated on a 0.101 acre parcel with four off-street parking spaces and free on-street parking located at 700-702 McKean Avenue, Donora, Pennsylvania 15033.
This property is being offered for sale by a Lender who has foreclosed on the property. This is a HUD property under a Housing Assistance Payment Contract until August 13, 2031.
During the foreclosure process and change in Ownership, the rental payments from HUD have fallen into an arrears with approximately $150,000 due from HUD once all required submittals are received by HUD.
For the purposes of estimating the NOI for the property, the Gross Potential Income was estimated by applying the contract rent to all vacant units and applying a 6.2% vacancy/credit loss.
The operating expenses were estimated based upon industry standards and testing expense assumptions against the first 5 months of 2025 operating expenses.
The property is being offered in as-is, where-is condition, with an asking price of $1,000,000.
This property is being offered for sale by a Lender who has foreclosed on the property. This is a HUD property under a Housing Assistance Payment Contract until August 13, 2031.
During the foreclosure process and change in Ownership, the rental payments from HUD have fallen into an arrears with approximately $150,000 due from HUD once all required submittals are received by HUD.
For the purposes of estimating the NOI for the property, the Gross Potential Income was estimated by applying the contract rent to all vacant units and applying a 6.2% vacancy/credit loss.
The operating expenses were estimated based upon industry standards and testing expense assumptions against the first 5 months of 2025 operating expenses.
The property is being offered in as-is, where-is condition, with an asking price of $1,000,000.
PROPERTY FACTS
| Price | $1,000,000 | Building Class | C |
| Price Per Unit | $45,455 | Lot Size | 0.10 AC |
| Sale Type | Investment | Building Size | 16,080 SF |
| No. Units | 22 | Average Occupancy | 70% |
| Property Type | Multifamily | No. Stories | 6 |
| Property Subtype | Apartment | Year Built | 1950 |
| Apartment Style | Mid-Rise | Parking Ratio | 0.25/1,000 SF |
| Zoning | R3 - Multiple Family Residence | ||
| Price | $1,000,000 |
| Price Per Unit | $45,455 |
| Sale Type | Investment |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 16,080 SF |
| Average Occupancy | 70% |
| No. Stories | 6 |
| Year Built | 1950 |
| Parking Ratio | 0.25/1,000 SF |
| Zoning | R3 - Multiple Family Residence |
AMENITIES
UNIT AMENITIES
- Kitchen
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 22 | - | 715 |
1 1
PROPERTY TAXES
| Parcel Number | 2400130004000100 | Improvements Assessment | $1,353,000 |
| Land Assessment | $14,000 | Total Assessment | $1,367,000 |
PROPERTY TAXES
Parcel Number
2400130004000100
Land Assessment
$14,000
Improvements Assessment
$1,353,000
Total Assessment
$1,367,000
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Donora Apartments | 700 Mckean Ave
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