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
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$9.99
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Other Income |
$99,999
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$9.99
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Vacancy Loss |
$99,999
![]() |
$9.99
![]() |
Effective Gross Income |
$99,999
![]() |
$9.99
![]() |
Taxes |
$99,999
![]() |
$9.99
![]() |
Operating Expenses |
$99,999
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$9.99
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Total Expenses |
$99,999
![]() |
$9.99
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Net Operating Income |
$99,999
![]() |
$9.99
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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 |