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708 S Negley Ave

6 Unit Apartment Building Offered at $1,300,000 at a 5.98% Cap Rate in Pittsburgh, PA 15232

Investment Highlights

  • LOCATION! In the Heart of Shadyside's Hotspots Keeping it Fully Rented Year Round!
  • Off Street Garage Parking! Outdoor Spaces: Porches & Large Yard! Additional Storage Area!
  • ALSO! Close to Universities, Hospitals and Entertainment Venues in the East End, Oakland and Downtown Areas!
  • Old World Charm with Modern Amenities!

Executive Summary

LOCATION! This one time mansion transformed into a 6-unit apartment building in the heart of Shadyside is steps away from both Walnut Street's and Ellsworth Aveue's shopping and dining hot spots as well as close to universities, hospitals and entertainment venues in the East End, Oakland and Downtown areas. The building has maintained the old world charm of decorative mantels and fireplaces while integrating modern day amenities which keep it fully rented year round. The apartment building also boasts, outdoor spaces , increasingly important to tenants now, including the large backyard, front porch and side porch area. Off-street parking is also available in the 4-car garage, also fully rented. There is additional storage above the garage and in the basement. Additional features include hardwood flooring and tiled flooring; large light and bright rooms; 2 new kitchens and 1 newly redone bathroom; newly redone laundry room; security mailboxes and automatic hallway lighting. 3- 1BDR, 1- 2BDR, Studio, Efficiency

Financial Summary (Actual - 2022) 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

Financial Summary (Actual - 2022) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price $1,300,000
Price Per Unit $216,667
Sale Type Investment
Cap Rate 5.98%
Gross Rent Multiplier 0.05
No. Units 6
Property Type
Multifamily
  • Multifamily Apartments
Building Class C
Lot Size 0.16 AC
Building Size 15,000 SF
Average Occupancy 0%
No. Stories 3
Year Built 1910
Parking Ratio 0.27/1,000 SF

Unit Amenities

  • Dishwasher
  • Fireplace
  • Washer/Dryer
  • Ceiling Fans
  • Tile Floors
  • Eat-in Kitchen
  • Kitchen
  • Hardwood Floors
  • Refrigerator
  • Oven
  • Carpet
  • Yard
  • Attic
  • Basement
  • Lawn
  • Smoke Free

Site Amenities

  • 24 Hour Access
  • Fenced Lot
  • Laundry Facilities
  • Smoke Free

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 1 $1,275 -
1+1 3 $1,100 -
Studios 2 $750.00 -
Walk Score ®
Walker's Paradise (96)
Transit Score ®
Excellent Transit (71)
Bike Score ®
Very Bikeable (87)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0084-N-00058-0000-00
Land Assessment
$170,300 (2024)
Improvements Assessment
$124,300 (2024)
Total Assessment
$294,600 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2022

zoning

Zoning Code Comm Apt over 4 units (Commercial: Apartments over 4 units)
Comm Apt over 4 units (Commercial: Apartments over 4 units)
  • Listing ID: 28100926

  • Date on Market: 3/30/2023

  • Last Updated:

  • Address: 708 S Negley Ave, Pittsburgh, PA 15232

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