711 Cubbage St 711 Cubbage St 24 Unit Apartment Building $1,999,999 ($83,333/Unit) 6.55% Cap Rate Carnegie, PA 15106
INVESTMENT HIGHLIGHTS
- 100% occupied
EXECUTIVE SUMMARY
Beautiful 24-unit multifamily property located close to Pittsburgh, PA. Very strong rental market area. Rents are currently well below market. Raise rents do a little final polishing and enjoy huge equity return and increased cashflow. There are 2 identical buildings. 22 identical 1 bedroom 1 bath apartments. 1 smaller 1 bed 1 bath and 1 efficiency. Onsite laundry with owned machines adds to cashflow. Low maintenance dox plank buildings.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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
|
PROPERTY FACTS Under Contract
| Price | $1,999,999 |
| Price Per Unit | $83,333 |
| Sale Type | Investment |
| Cap Rate | 6.55% |
| Sale Condition | 1031 Exchange |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.69 AC |
| Building Size | 22,350 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1976 |
| Zoning | commercial - commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Heating
- Refrigerator
- Oven
- Tub/Shower
- Carpet
SITE AMENITIES
- Bicycle Storage
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 23 | - | 620 |
| Studios | 1 | - | 520 |
PROPERTY TAXES
| Parcel Number | 0103-N-00300-0000-00 | Total Assessment | $1,056,600 |
| Land Assessment | $154,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $902,600 | Tax Year | 2024 |
CONTACT
-
David Simpson - Triumph One LLC
