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7218 Meade St 7218 Meade St 4 Unit Apartment Building $750,000 ($187,500/Unit) 7.99% Cap Rate Pittsburgh, PA 15208
Investment Highlights
- 5,390 SF building with 4 spacious units
- Modern and well-maintained low-rise/garden style property
- Attractive investment opportunity for rental income
- Zoned for Four Family, ideal for multifamily investors
- Prime location in Pittsburgh, PA, 15208
- Ample parking for residents and guests
Executive Summary
Discover an exceptional investment opportunity in the heart of Point Breeze with this renovation of a 4-unit apartment building. Over the past three years, the entire property has undergone extensive updates, ensuring modern comfort and convenience for tenants.
The building comprises two spacious 4-bedroom, 2-bath units and two comfortable 2-bedroom, 1-bath units. Each unit boasts a contemporary design and layout, attracting quality tenants and maximizing rental income potential. The 4-bedroom units currently average $1,750 per month, while the 2-bedroom units average $1,350 per month.
Tenants appreciate the convenience of paying all utilities, including a water reimbursement, reducing overhead for the property owner. The property's location in the serene, predominantly residential neighborhood of Point Breeze offers a perfect blend of suburban tranquility and urban accessibility.
Just a block from several bus stops and a short distance from Frick Park, Bakery Square, and Regent Square, residents enjoy easy access to public transportation, outdoor activities, shopping, dining, and entertainment. Nearby amenities include the Meridian shopping complex, Trader Joe's, Giant Eagle Market District, Bakery Galley, Alta Via, and LA Fitness.
The building comprises two spacious 4-bedroom, 2-bath units and two comfortable 2-bedroom, 1-bath units. Each unit boasts a contemporary design and layout, attracting quality tenants and maximizing rental income potential. The 4-bedroom units currently average $1,750 per month, while the 2-bedroom units average $1,350 per month.
Tenants appreciate the convenience of paying all utilities, including a water reimbursement, reducing overhead for the property owner. The property's location in the serene, predominantly residential neighborhood of Point Breeze offers a perfect blend of suburban tranquility and urban accessibility.
Just a block from several bus stops and a short distance from Frick Park, Bakery Square, and Regent Square, residents enjoy easy access to public transportation, outdoor activities, shopping, dining, and entertainment. Nearby amenities include the Meridian shopping complex, Trader Joe's, Giant Eagle Market District, Bakery Galley, Alta Via, and LA Fitness.
Property Facts
| Price | $750,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $187,500 | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 5,390 SF |
| Cap Rate | 7.99% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1900/2021 |
| Property Subtype | Apartment | ||
| Zoning | R1D-L - SINGLE-UNIT DETACHED RESIDENTIAL LOW DENSITY | ||
| Price | $750,000 |
| Price Per Unit | $187,500 |
| Sale Type | Investment |
| Cap Rate | 7.99% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Lot Size | 0.18 AC |
| Building Size | 5,390 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1900/2021 |
| Zoning | R1D-L - SINGLE-UNIT DETACHED RESIDENTIAL LOW DENSITY |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+2 | 2 | - | - |
| 2+1 | 2 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 0126-H-00266-0000-00 | Improvements Assessment | $226,500 |
| Land Assessment | $40,300 | Total Assessment | $266,800 |
Property Taxes
Parcel Number
0126-H-00266-0000-00
Land Assessment
$40,300
Improvements Assessment
$226,500
Total Assessment
$266,800
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