128 Wood StCalifornia, PA 15419

Property Details for 128 Wood St

Lot size

0.28 AC

Property type

Investment properties

Property subtype

Live-work space

APN

080-006-00-03-0001-00

APU

800060003000100

Description

Exceptional investment opportunity in California, Pennsylvania! This mixed-use property at 128 Wood St boasts 52 apartment units – a mix of studios, one, two, three, and four-bedroom apartments totaling 74 beds – and a 1600+ sq ft commercial space, previously occupied by Quiznos. The property enjoys a prime location, just blocks from PennWest California University and minutes from California Technology Park, providing access to a large pool of potential tenants. The building features recent renovations, both interior and exterior, and includes valuable amenities such as an on-site gym, coin-operated laundry facilities, and a large basement with potential for additional income-generating tenant storage. Safety features are in place, including sprinklers, security cameras, and fire alarms. An 18-space parking lot is also included. The property sits on a 0.285-acre lot and is zoned C2. Currently operating at 80% occupancy, the property generates a strong Net Operating Income (NOI) of $129,969, representing a 7.91% cap rate. The asking price is $1,400,000. Owner financing is available. Utilities include electricity, natural gas, sewer, and water. Virtual tours are available online.

• CAP approach

  CAP return

  Valuation

  6%

  $2,944,425

  6.5%

  $2,717,930

  7%

  $2,523,793

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,473,458

  Geo Method

  $2,473,458

• Alternative Use

  Use

  Valuation

  Residential

  $3,370,234

  Hospitality

  $3,087,116

  Educational

  $2,568,444

  Medical

  $2,656,777

  Retail

  $3,995,358

Location Insight

City

California

County

Washington

State

Pennsylvania

Latitude

40.0678

Longitude

-79.8894

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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