[9-Unit] OAKMONT Bundle, 15139 For Sale

  • $525,000
  • 17 beds
  • 10.5 baths

CAP >16% at full occupancy; A+++ location

 

The Brief:

Oakmont 9-unit turn-key package-of-three – 8/9 rented, at “grandfathered” rates; next buyer can collect modern-day profits:

  • some tenants there since 1980s – they + the owners are moving on
    • current owners emphasize “Rents are extremely low for the area.”
  • rents will nicely progress alongside area popularity

 

Notes:

  • all hot water tanks (7) replaced in past ≈5 years
  • most are forced air
    • College Ave. converted from boiler in 2007 (92% efficiency unit)
    • other furnaces replaced 2013; 2014
    • 4/5 5th St. units are electric baseboard heat
  • all 1-2 blocks from main drags / walkable
    • eg, Oakmont Bakery & Tavern, Riverside High, The Oaks Theater
  • duplexes have large units (nearly 6,000 sq. ft. across them)
  • all current tenants are solid

 

#s:

  • current cap (per actual 2018 expenses): 5.75% at 8/9 occupied; 7.00% @ 100% occupancy
  • cap @ full as-is rental capacity: 16.77% @ 5% vacancy (perhaps up to 20.28% / $106.5k NOI if opt to update)

______

  • current asking price: $525k
  • current value: $635k
  • ARV: $700k+

 

 

Specs 

408-410 College Avenue, 15139: 3,116 sq. ft. Duplex

  • 7BR/3.5BA – side-by-side
    • 1 – 4/2.5
    • 1 – 3/1
  • 3-car garage (rented)
  • tenants pay full utilities

click for more photos

 

671 5th Street, 15139: 5-unit

  • five 1BRs; varying sizes
  • 1 tenant acts as caretaker – might want to keep him!
  • tenants pay electric (1 pays gas)

click for more photos

 

 

507 Washington Avenue, 15139: 2,722 sq. ft. Duplex

  • 5BR/2BA – up-&-down package
    • 1 – 2/1
    • 1 – 3/1
  • 1 recently vacant; other to be vacated soon
  • tenants pay full utilities

click for more photos



  • Taxes: $10,513 (3433+3933+3147)
  • Electric: Updated
  • Plumbing: Updated
  • Kitchen: Sufficient (all)
  • Bath: Mostly updated
  • Roof: Good shape (all)
  • Furnace: All newer
  • Hot Water Tank: All <5 yrs old
  • Windows: Double-paned
  • 671 5th St: (5) 1 BR / 1 BA  |  408-410 College Ave: (1) 4 BR / 2.5 BA ; (1) 3 BR / 1 BA  |  507 Washington Ave: (1) 2 BR/ 1 BA; (1) 3 BR / 1 BA
  • Parking: Off-street (3-car garage); on-street
  • Rental Income: $4,440/mo
  • Rental Potential: $9,750+/mo
Price:
$525,000
Address:
671 5th St / 408-410 College Ave / 507 Washington Ave
Oakmont, PA 15139
Lot Size:
19,885 total (4400; 8565; 6920)
Bedrooms:
17
Bathrooms:
10.5
Terms:
For Sale
Property Type:
Home
Year Built:
1886
Basement:
Full; unfinished w/laundry
Const. Type:
Block/stucco/frame

Call (800) 788-9882 for more details

Property Location