113 Bellevue AvePittsburgh, PA 15229

Property Details for 113 Bellevue Ave

Lot size

0.51 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 23-unit apartment building in Pittsburgh's desirable West View neighborhood presents a compelling investment opportunity. The property boasts a solid all-brick, dox plank construction, ensuring durability and longevity. Currently generating a strong NOI of $184,513, with a pro-forma NOI of $203,113, this Class B building offers a 7.46% cap rate and a pro-forma cap rate of 8.21%. The asking price is $2,475,000, translating to $107,608.70 per unit. Over half of the units have undergone complete renovations, featuring updated kitchens, bathrooms, and vinyl flooring. Most units include dishwashers, and all are equipped with PTAC heating and cooling systems. Residents enjoy on-site laundry facilities and off-street parking. The property's location on a quiet, tree-lined street provides a peaceful residential setting, while its proximity to I-279 and Downtown Pittsburgh (approximately 8 miles) ensures convenient access to major transportation routes and amenities. A significant upside potential exists through the completion of a 24th unit, currently used as storage, and the implementation of parking fees. The 0.511-acre lot provides ample space. This well-maintained property, situated in the North Hills school district, offers a rare blend of strong current performance and significant future growth potential.

Location Insight

City

Pittsburgh

County

Allegheny

State

Pennsylvania

Latitude

40.5231

Longitude

-80.0324

FAQs

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