rented duplex in the Opportunity Zone!!
-Location is phenomenal: right next to the WTAE station on Ardmore Boulevard (right over the borders of Edgewood/Forest Hills/Churchill).
-About 1 second from I-376.
-Separate entrances & utilities.
-Roof & hot water tanks only 5 years-old; furnaces also newer & 90% efficient (central heat!).
-Gathers $1,430/month.
Tenants pay gas & electric; landlord pays water/sewage + garbage.
3BR/1BA unit:
- tenant has been there for over 3 years
- pays $840/month
1BR/1BAunit:
- tenant renewed 2nd-year lease
- pays $590/month
Has a 15% cap rate right now. Cap as the Wilkinsburg market matures might push closer to 23%.
Doesn’t really need anything except windows eventually; they’re fine but older.
- Hardwood floors throughout both units
- All electric/plumbing in good shape
- Level lot
- Large covered front porch houses
- Tall ceilings
- OG hardwood + fireplace
Pretty nice street w/big unique houses & multis. Also see 4th photo in for how central: sits in the middle of Forest Hills, Wilkinsburg, Point Breeze, Edgewood, Regent Square, Churchill Valley, etc.
*Supremely solid investor of mine only asking to break even; steal of a Wilkinsburg duplex.
- Taxes: $2,137
- Electric: Updated (all)
- Plumbing: Good (all)
- Kitchen: Decent (both)
- Bath: Decent (both)
- Roof: Part shingle, part flat; all 5 yrs old
- Furnace: (1) 2 yrs old; (1) 10 yrs old [both Goodman]
- Hot Water Tank: 5 yrs old (both)
- Windows: Single-paned; (1) older, (1) original
- (1) 3 BR / 1 BA; (1) 1 BR / 1 BA
- Floors: 2
- Parking: On-street
- Rental Income: $1,430/mo