1527 Federal St
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1527 Federal St
7 Unit Apartment Building $735,000 ($105,000/Unit) 9.11% Cap Rate Pittsburgh, PA 15212
Investment Highlights
- Ideal opportunity for an owner-operator or Investor
- Large apartments with a great layout
- Well maintained building and upgraded/renovated apartments
- High capitalization rate
Executive Summary
Ben & Company is pleased to share 1527-1529 Federal Street. This is a great opportunity for investors to own a fully tenanted building with a high capitalization rate while receive cash flow in the upcoming Mexican War location! A great upside potential of rent increase for the commercial and residential units. The asset is a mixed-use building, offers 4 residential units and 3 commercial units; 1 office and 2 retail stores; one storefront is occupied by Richmond Bike Shop, and the second space is occupied by Giordani heating and cooling Inc. (long term tenants). The residential units include Two 2-bedrooms and Two 1-bedroom apartments, beautifully renovated loft-style warehouse apartments featuring large layouts, great light and view, hardwood floors, exposed brick, high ceilings, French doors, central heating and cooling and W/D in the unit. This is a wonderful chance to invest in a stabilized, high quality boutique building with historic charm in a great Central northside location. Enjoy strong existing cash flow, Airbnb or owner occupy.
The property is located in the Mexican War streets area of the Central Northside. Just a short walk to Carnegie Library, AGH, PNC Park/ local parks, Heinz Field and Western Ave nightlife.
The property is located in the Mexican War streets area of the Central Northside. Just a short walk to Carnegie Library, AGH, PNC Park/ local parks, Heinz Field and Western Ave nightlife.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$92,292
|
$9.75
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,760
|
$0.29
|
| Effective Gross Income |
$89,532
|
$9.46
|
| Taxes |
$11,128
|
$1.18
|
| Operating Expenses |
$11,060
|
$1.17
|
| Total Expenses |
$22,188
|
$2.34
|
| Net Operating Income |
$67,344
|
$7.12
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $92,292 |
| Annual Per SF | $9.75 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,760 |
| Annual Per SF | $0.29 |
| Effective Gross Income | |
|---|---|
| Annual | $89,532 |
| Annual Per SF | $9.46 |
| Taxes | |
|---|---|
| Annual | $11,128 |
| Annual Per SF | $1.18 |
| Operating Expenses | |
|---|---|
| Annual | $11,060 |
| Annual Per SF | $1.17 |
| Total Expenses | |
|---|---|
| Annual | $22,188 |
| Annual Per SF | $2.34 |
| Net Operating Income | |
|---|---|
| Annual | $67,344 |
| Annual Per SF | $7.12 |
Property Facts
| Price | $735,000 | Building Class | C |
| Price Per Unit | $105,000 | Lot Size | 0.05 AC |
| Sale Type | Investment | Building Size | 9,462 SF |
| Cap Rate | 9.11% | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 0.53/1,000 SF |
| Apartment Style | Low Rise |
| Price | $735,000 |
| Price Per Unit | $105,000 |
| Sale Type | Investment |
| Cap Rate | 9.11% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 9,462 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1900 |
| Parking Ratio | 0.53/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Washer/Dryer
- Heating
- Eat-in Kitchen
- Hardwood Floors
- Refrigerator
- Range
- Tub/Shower
- Views
Site Amenities
- Controlled Access
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Walk Score ®
Very Walkable (81)
PROPERTY TAXES
| Parcel Number | 0023-F-00188-0000-00 | Total Assessment | $441,000 (2024) |
| Land Assessment | $18,400 (2024) | Annual Taxes | $11,128 ($1.18/SF) |
| Improvements Assessment | $422,600 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
0023-F-00188-0000-00
Land Assessment
$18,400 (2024)
Improvements Assessment
$422,600 (2024)
Total Assessment
$441,000 (2024)
Annual Taxes
$11,128 ($1.18/SF)
Tax Year
2023
zoning
| Zoning Code | R1AVH (Retail Trade) |
| R1AVH (Retail Trade) |
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Ben And Company
1527 Federal St
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