Own 3 of the 7 units at Royal Oaks condo building@Frick Park/*Regent Square!!
Stunning rented condos. Or resell them for about $165k each (yes this asking price x ≈3).
Building has 7 large 2BR condos: abundant original + potential character, ROI, location (essentially on top of Regent Square, Frick Park, I-376, & multiple bus lines). Walk everywhere: Biddle’s Escape, bars/restaurants, shops, theatre, the esteemed Environmental Charter School At Frick Park, church, etc.
Some units have central air & in-unit laundry; all 3 of these corner/end-units have exposed brick, OG stained glass, wooden beams, *2* grand fireplaces, & kitchen w/bar. More:
- HIGH ceilings
- Covered rear deck w/separate entrance
- If not in-unit, then coin-op laundry
- Long brick corridors
- Much cabinet space
- Existing equity
All windows were replaced in 2019, 2 furnaces are new.
Basement holds storage cabinets, a storage closet, & laundry (**if needed).
Pet-friendly makes it a supereasy & valuable rental. Speaking of:
- $895/month; 10/01/2020→09/30/2021
- $850/month; 06/15/2020→06/14/2021
- $800/month; 07/01/2020→06/30/2021
(one appears vacant in photos since tenant is out of country, but paying until lease-end)
*CAP today: just over 10%; CAP after $10k or so/unit in updates: around 19%*
Monthly rental capacity closer to $1,500 each when fully updated; all 2/1:
–rental_comp1 (423 Biddle Avenue)
2/1, 2 streets over: 623 Whitney Ave. Apt. 1, Wilkinsburg, 15221 | $159k
another: 815 S. Braddock Ave., Pittsburgh, 15221 | $150k
Condo responsible for:
hot water tank(s) | windows (new!!) | basement & facilities | the typical condo maintenance (common areas, exterior, landscaping, etc.)
LOW $125 condo association / monthly HOA fee includes:
water | sewage | garbage (**click for Declaration of Condominium PDF [has searchable text])
Units vary in their level of updates.
After you view my photos, see these for ideas of what others have done w/their [smaller by >200 sq.Ft.] units:
465 Biddle #5, Wilkinsburg, PA 15221 | Estately 🧡 | 465 Biddle #7, Wilkinsburg, PA 15221
- Taxes: $1,929 per unit
- Electric: Updated
- Plumbing: Updated
- Kitchen: (1) OK; 1 partially updated; (1) needs more updating
- Bath: Need updating (all)
- Roof: Rolled
- Furnace: (2) new; (1) 10 yrs old
- Hot Water Tank: n/a (condo assoc.’s responsibility)
- Windows: Double-paned; new (2019)
- Units: (3) 2BR/1 BA
- Floors: 1
- Parking: On-street
- Rental Income: $2,545/mo TOTAL; (unit #6) $895, (unit #1) $800, (unit #2) $850