[4-Plex+3 lots] 1950, 1954, 1956, & 1958 Lithgow Ave — Perry South, 15214 Pending

  • $74,400
  • 8 beds
  • 4 baths
  • 4,340 sqft

solid shell-of-a-4-unit on 4 lots w/new roof & 19% cap@ARV!!

 

Legal FourPlex/Quadruplex on 4 lots totaling 9,200 sq.Ft. / over ⅕ of an acre (bottom of Perry South @Central NorthSide border; near Manchester, Deutschtown/East Allegheny).

 

Gutted-to-studs w/new roof; property was a MESS a few years ago .. the *dirtiest* work = essentially done! Yep needs everything but it’s cheap, will return immensely, & it’s brick!
Seller just trying to break even in materials/labor.


Large 2BR units est. (or precisely) 1,085 square feet each.

  • ≈3/4-mile from AGH .. ≈15-minute walk
  • buses / public transportation everywhere; quite walkable otherwise
  • get to Heinz Field, PNC Park, Highmark Stadium in minutes
  • triplex on Reddour sold for $350k; this might not get to be worth that much, but can be scraping $300k’s
  • walkout basement w/exposed brick +tall ceilings like the rest of the multiunit
  • central heat
  • SO much light .. while its many windows might be an expense, they’ll balance-out as a selling point for tenants

Put $125k in for ≈$199.5k TOTAL in for a 19% cap (or sxn.8 will still get you a 15% cap):

Triangle Tech, Aviary, parks etc. all right there; very easy access to universities


-Parking galore+no immediate neighbors to either side or the rear; adjacent inc. 3 vacant parcels used like a parking lot for tenants. Photo in reel shows them.


-Can put the 4 parcels on one deed & have a piece of land that’s pretty gigantic for the North Side (otherwise, vacant lot prices for the area can still fetch you a few thou$and each).

This renovated triplex sold for $270k on Perrysville Avenue: click


Possible monthly rent for 2021 (will obvs. continue the climbing trend it’s held for decades):
Perry South Market: $4,200

  • $1,050×4

Sxn. 8: $3,460

  • $865×4 (<<tenants pay gas+electric)

  • Taxes: $1,340
  • Electric: None
  • Plumbing: None
  • Kitchen: None
  • Bath: None
  • Roof: 5 yrs old
  • Furnace: None
  • Hot Water Tank: None
  • Windows: Mixed?!
  • Units: (4) 2BR/1 BA
  • Floors: 2
  • Parking: Parking “lot”
  • Rental Potential: $4,200/mo
Price:
$74,400
Address:
1950, 1954, 1956, & 1958 Lithgow Ave
Perry South, PA 15214
Square Feet:
4,340
Lot Size:
9,200 (4,000+2,000+1,200+2,000)
Bedrooms:
8
Bathrooms:
4
Terms:
For Sale
Property Type:
Quadraplex
Year Built:
1910
Basement:
Full; unfinished; walk-out
Const. Type:
Brick

Call (800) 788-9882 for more details

Property Location