[15-Unit / 11 Apts.+Garages] Alberta St — Munhall, 15120 For Sale

  • $745,000
  • 11 beds
  • 11 baths
  • n/a sqft

Here we go – 11 apartment units & 2 integrated double-garages; rents as 13 units (or would be 15 if you rather rented the garages as 4 solo bays). 100% occupied in excellent shape. Rental income combines apts., 2×2 garages to non-tenants, & coin-operated laundry.

It’s plainly just a Very Nice, Non-Tasking, notably Well-Maintained rental complex in a proper area, on a BiG corner lot, with parking all over (pkg. lot + garage + street). Walkable to many places (inc. Steel Valley H.S.) and has A++ transportation options:

Fast access to the Waterfront, developing 8th Ave of Homestead, highways, etc.

 

All apartments are fully electric with separate meters (minus basement unit, because it has central air).

 

*total gross rent of 2021: $98,113 || NOI: $54,923

*​total trending 2022 gross rent: ​$100,020 || NOI: $​55,557


  • All 1 bed, 1 bath units – rent range of $625 (not updated yet)→$805 (updated);
    total: $7,715/month // average: $701/unit/month
  • Garage units (2×2) – total: $460/month
  • Coin-op laundry: average: $160/month
  • Gross/month: $8,335 total

 

​*Actual 2021 ​annual expenses provide a 7.46% cap rate est. at full asking price.

  • utilities (gas/water/trash/elec.): $10,634
  • taxes $18,551
  • insurance: $1,467
  • maintenance/materials: $12,538

 
*See spreadsheet link or attachment below for full breakdown:
(File note: the workbooks have 4 named Sheets/Tabs of data in them)

-Google Sheet link (view-only): MUNHALL ROI
-Excel download (editable; identical): .xlsx HERE

Note:
-let me know if you desire specific figures in your deal analyses & we’ll integrate the calculations for you…nothing is too complex, so have no hesitation in requests

 

About ½ of them have been renovated so far- ​the remaining units get upgraded as tenants move out – essentially new stove, new ‘fridge, new microwave + carpet/paint & it’s a wrap!

Note these KeyPoints:

  • Photos are split​ between rehabbed + rented
  • Buildings & land are very well-maintained
    • there is really nothing to do for the property except flooring/appliance updates to units
    • ALL NEW electrical service inc. the panels
    • good roof, newer hot water tanks, no deferred maintenance, etc.
    • easy property to collect a very decent CAP out of the gate, & >8% when fully updated
      [all actual & projected #s  in the linked spreadsheet]

  • Taxes: $18,551
  • Electric: Updated
  • Plumbing: Updated
  • Kitchen: Updated (half)
  • Bath: Updated (half)
  • Roof: Good
  • Furnace: New w/CHA (1); electric baseboard (10)
  • Hot Water Tank: ~5 yrs old (all)
  • Windows: Double-paned
  • Units: (11) 1BR/1 BA 
  • Floors: 4
  • Parking: On-premise parking lot + garages (4)
  • Rental Income: $8,335 GROSS
Price:
$745,000
Address:
Alberta St
Munhall, PA 15120
Square Feet:
n/a
Lot Size:
9,494
Bedrooms:
11
Bathrooms:
11
Terms:
For Sale
Property Type:
Apartment
Basement:
n/a
Const. Type:
n/a

Additional Features

State Use/Class: Commercial | Land Use/Code: [5-19] Apartments

Call (800) 788-9882 for more details

Property Location