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Listed by DEACON & HOOVER REAL ESTATE ADVISORS LLC
$ 1,650,000
Est. payment | /mo
8,982 Sqft Lot
$ 1,650,000
Est. payment | /mo
8,982 Sqft Lot
Key Details
Property Type Single Family Home
Sub Type Other
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 1753953
HOA Y/N No
Year Built 1900
Annual Tax Amount $25,665
Lot Size 8,982 Sqft
Acres 0.2062
Property Sub-Type Other
Property Description
304 S Birmingham Ave is a well-maintained multifamily property consisting of 19 units (12 one bedroom units, 3 two bedroom units, 4 studio units). The property features frame construction with a brick exterior. Unit interiors are mixed however most units have been recently renovated and feature vinyl plank flooring, neutral color scheme, updated bathrooms and kitchens, and well-maintained plumbing and electrical fixtures. Community amenities include on-site laundry and keypad access to building wings based on tenancy.
This offering represents a compelling acquisition opportunity for investors seeking stable, income-producing real estate with significant value-add upside in one of the region's strongest performing submarkets.
Located in the heart of Avalon, 304 S Birmingham comprises 19 residential units. The property is currently generating an Effective Gross Income of $203,362, and a Net Operating Income of $120,954, reflecting a 7.3% capitalization rate on the asking price. Potential building income is as high as $305,302 with ACHA housing tenants, which would represent a 13.7% cap rate at purchase price. The asset benefits from a diversified tenant base, strong in-place occupancy, and a proven operating history that underscores the stability of the cash flows.
This offering represents a compelling acquisition opportunity for investors seeking stable, income-producing real estate with significant value-add upside in one of the region's strongest performing submarkets.
Located in the heart of Avalon, 304 S Birmingham comprises 19 residential units. The property is currently generating an Effective Gross Income of $203,362, and a Net Operating Income of $120,954, reflecting a 7.3% capitalization rate on the asking price. Potential building income is as high as $305,302 with ACHA housing tenants, which would represent a 13.7% cap rate at purchase price. The asset benefits from a diversified tenant base, strong in-place occupancy, and a proven operating history that underscores the stability of the cash flows.
Location
State PA
County Allegheny-north
Community Public Transportation
Area Avalon
Zoning R-M
Interior
Interior Features InteriorFeatures
Fireplace No
Exterior
Parking Features On Street
Community Features Public Transportation
Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available
Roof Type Other
Building
Structure Type Brick,Frame
Schools
School District Northgate
Nearby Locations
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Geoff Smathers
REALTOR® | Lic# RS219743L