[17-Unit] 2434-2440 Brownsville Rd — Carrick, 15210 Pending

  • $855,000
  • 26 beds
  • 17 baths
  • n/a sqft

17 total units: a 14+3-unit on large, walkable corner lot; 2 dwellings, 1 deed.

*total gross rent of 2021: 136,800 || NOI: 91,684
*​total anticipated 2022 gross rent: ​151,559 || NOI: ​102,783

Here are some basic 2021 numbers on the 14-unit + 3-unit buildings:

8 units (2 bed, 1 bath) 850 per month

  • rent received 71,400

6 units (1 bed, 1 bath) average 700 per month

  • r ent received 50,400

1 unit in second dwelling (2 bed, 1 bath) 650 per month

  • rent received 7,800

​​1 unit in second dwelling (​1​ bed, 1 bath) 6​0​0 per month

  • rent received 7,​2​00

 

actual 2021 annual expenses:

  • insurance 4,768
  • gas 9,189
  • water 9,194
  • sewage 11,918
  • taxes 5,457
    • (assessed at 240k)

 

The secondary dwelling is a 3-unit building next to the primary apartment building that is included on the same, single deed. Ground floor was used as office space–can alternately be turned into efficiencies, retail, etc. The two other units (2nd floor) remain rented.

 

​A​ctual 2021 ​data  provided a 10.72% CAP. 2022 est. similar return; yet the #s are trending a bit upward toward a possible crest of a 12% CAP per a.) the new coin-operated laundry room installed last year, and b.) how you choose to rent the storefront/office. PDF below has the simple calculations / breakdowns / parcel data.



(if you want to play w/the #s yourself, have at it: Brownsville Sheet)

 

This link just holds surface-level demographics/comm. property data: here [LOOP]

Recent proximate sales avg. >$60k/unit high; some photos/info per RQ comps: here [ZG]


Photos note: I only visited the units that were being renovated, and one that was occupied, so those are the extent of the photos; use them as your guide/general idea-gathering rather than a comprehensive run-through. Thanks!


Just need to collect on this one, no deferred maintenance, etc. Cap rate seems shocking but I ran the #s countless times.


  • Taxes: $5,458
  • Electric: Updated
  • Plumbing: Updated
  • Kitchen: OK (all)
  • Bath: OK (all)
  • Roof: OK (all)
  • Furnace: Mixed / ages vary
  • Hot Water Tank: Mixed / ages vary
  • Windows: Good
  • 26 BR/17 BA
    • (9) 2 BR/1 BA;
    • (7) 1 BR/1 BA;
    • (1) office/efficiencies 
  • Floors: n/a
  • Parking: Parking lot
  • Rental Income: $11,400/mo + electric (2021)
Price:
$855,000
Address:
2434-2440 Brownsville Rd
Carrick, PA 15210
Square Feet:
n/a
Lot Size:
12,120
Bedrooms:
26
Bathrooms:
17
Terms:
For Sale
Property Type:
Apartment
Basement:
n/a
Const. Type:
n/a

Call (800) 788-9882 for more details

Property Location