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908 Island AveMcKees Rocks, PA 15136

76-unit multifamily value-add opportunity

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity encompasses a 76-unit multifamily portfolio situated across 19 buildings in McKees Rocks, Pennsylvania, Allegheny County, zip code 15136. The portfolio consists of single-family rental properties, classified as Class B, presenting a compelling value-add proposition. Currently generating a Net Operating Income (NOI) of $312,281, a pro-forma NOI of $331,972 projects significant upside potential. The properties are strategically located throughout McKees Rocks, many within walking distance of local shops, restaurants, and entertainment venues. This presents an investor with immediate scale in a high-barrier-to-entry market. The portfolio features a diverse range of unit types and unique characteristics. Many units offer significant potential for modernization and aesthetic improvements, allowing for increased rental income. Upgrades to fixtures, common areas, and exterior facades would further enhance the properties' appeal in a competitive rental market. McKees Rocks is experiencing revitalization, with an emerging arts and entertainment scene, business district improvements, and industrial development along the riverfront. Its proximity to downtown Pittsburgh and access to recreational opportunities, including parks and the Ohio River, contribute to its growing attractiveness. This portfolio offers a rare chance to capitalize on the upward trajectory of this dynamic neighborhood. The properties are spread across various addresses within McKees Rocks, including but not limited to 908 Island Ave, 629 Broadway Ave, 631 Broadway Ave, 711 Broadway Ave, and others.

Highlights

  • McKees Rocks offers strong investment potential due to its revitalizing business district, burgeoning arts and entertainment scene, and riverfront industrial development, all within easy reach of downtown Pittsburgh.
  • McKees Rocks and Stowe Township are experiencing significant growth, attracting new residents and businesses.
  • A thriving arts and entertainment scene is anchored by venues like The Parkway Theater, Rocks Landing, The Roxian Theater, and Father Ryan Arts Center.
  • Residents enjoy abundant recreational opportunities, including nearby Sheraden and Fairhaven Parks, offering sports fields, courts, pools, playgrounds, and trails, plus river access for boating, fishing, and kayaking.

Property Details for 908 Island Ave

Property type
Residential income homes
Class
B
Buildings
19
Units
76

Location Insight

City
McKees Rocks
County
Allegheny
State
Pennsylvania
Latitude
40.47484518
Longitude
-80.06451865
908 Island Ave, McKees Rocks, Pennsylvania

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908 Island Ave
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