604 Versailles AveMcKeesport, PA 15132

Property Details for 604 Versailles Ave

Property type

Residential income homes

Property subtype

Apartment buildings

Description

This exceptional investment opportunity presents a portfolio of two neighboring multifamily properties located at 604 and 620 Versailles Avenue in McKeesport, Pennsylvania, 15132. The portfolio consists of four buildings totaling 34 units, currently operating at 86% occupancy. 604 Versailles Avenue comprises three duplexes, each recently upgraded with new hot water tanks, furnaces, electrical service, and plumbing within the last five years. 620 Versailles Avenue features a 28-unit building, with four vacant units currently undergoing renovation, including the installation of luxury vinyl tile flooring, updated fixtures, and modern cabinetry. The remaining 24 occupied units at 620 Versailles Avenue have also received recent upgrades mirroring those at 604 Versailles Avenue. The properties boast a current NOI of $131,904, with a pro-forma NOI projected at $237,711, reflecting the significant value-add potential. This portfolio offers investors a chance to capitalize on the thriving McKeesport market, benefiting from its proximity to shopping, dining, and entertainment options. The properties are classified as Class B and are offered for sale as a package deal. The buildings are three stories high and sit on separate parcels. This is a rare opportunity to acquire a substantial multifamily portfolio in a growing Pennsylvania market. The properties are not subject to a ground lease.

Location Insight

City

McKeesport

County

Allegheny

State

Pennsylvania

Latitude

40.347

Longitude

-79.8591

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