33% cash on cash -3-unit apartment 40k underpriced- “MORNINGSIDE” Pittsburgh Pennsylvania.
With a purchase price of $266,000, you will be purchasing this property for $40,000 under market value.
Three unit apartment building is a class C property located in a class B neighborhood on the east side of Pittsburgh in the Morningside neighborhood.
This neighborhood has incredible strong and stable growth, mentioned as a top neighborhood for multifamily investment in Greater Pittsburgh for 2020, an incredible location positioned between all the major hospitals in Pittsburgh with a five minute drive to Fox Chapel, Shadyside, Bloomfield, Lawrenceville, and great for graduate students at universities in the Oakland area. Located in a very mature, safe and quiet B-class neighborhood mostly single family homes.
This investment opportunity has little deferred maintenance, it has maintenance free vinyl siding, currently fully rented, making it a turnkey project poised for immediate cash distribution. The unit mix on this Building is one 1-Bedroom unit, and two 2-bedroom units enhanced by having an underutilized 4 CAR garage!! directly on the property. Rents are significantly under market with the potential to increase by a minimum of 18% to as much as 37%. By raising rents, utilizing garage for rentals, and Bill Back Utilities increases the value cash flow immediately.
Please message me if you have interest.