[Three-Family / DX, SFR] 2919 Jersey St (+2919 Apple Alley) — McKeesport, 15132 For Sale

  • $59,900
  • 6 beds
  • 3 baths
  • 3,608 (2,520+1,088) sqft

McKeesport BOGO: buy a ½-remodeled duplex_get a rented SFR free|30%CAP

 

3 2BR/1BA (total of 6BR/3BA), 2 buildings:

  1. 4/2 duplex in the front (Jersey Street) (vacant, ½-remodeled)
  2. 2/1 SFR in the rear (Apple Alley) (rented)

 

Make money from the “bonus” long-term rental in the rear while you do cosmetic work on ONE of the duplex’s units; 1 unit already remodeled in 2018.

All-in including purchase price: ≈$70k
CAP Rate at that point = low: 15.26% (NOI: $10.7k); high: 30.48% (NOI: $22.1k)

 

-2BR market rent for units of that size (all ≈1,100-1,300 sq.ft.): $875/unit ($2,625/month) **Sxn.8: about the same ($865$979)

-keep it un-updated & still collect a minimum of 1,625/month (what the properties paid collectively before 2 vacant units); rental range from $1,625$2,625/month:

 

Large living spaces: >1,250 sqFt. per DX unit; 1,088 sqFt. in SFH.

  • 1st DX unit: vacant; remodeled (2018)
  • 2nd DX unit: vacant; has some newer parts
  • 3rd unit: rented; (2/1 SFR in rear: “2919 Apple Alley”) in decent shape
    • tenant pays electric


New furnaces + H2O tanks!

Needs about $5k per unit in updates for better rents.

#s:

  • AS-IS potential CAP: >15% (most recent rents were $1,625 total [$575/$575/$475])
  • CAP@ARV: >30%
  • NOI@ARV: $22,067
    • actual expense breakdown available

*live in one duplex unit OR the single family, rent the others
**make money from the bonus long-term rental in the rear while you do cosmetic work, no matter if you’re an investor or on-premises landlord/homebuyer
***use any of the three units/house for a family member


  • Taxes: $1,633
  • Electric: Updated
  • Plumbing: Updated
  • Kitchen: (1) 2018; (2) need some updates
  • Bath: (3) Need cosmetic work
  • Roof: Good
  • Furnace: (2) New; (1) good
  • Hot Water Tank: (3) Newer
  • Windows: Mixed
  • (3) 2 BR / 1 BA
  • Floors: 2
  • Parking: Off-street (alley); on-street
  • Rental Income: $475/mo (SFR; DX is vacant)
  • Rental Potential: $2,370@ARV ($790 x 3)
Price:
$59,900
Address:
2919 Jersey St (& 2919 Apple Alley)
McKeesport, PA 15132
Square Feet:
3,608 (2,520+1,088)
Lot Size:
3,240
Bedrooms:
6
Bathrooms:
3
Terms:
For Sale
Property Type:
Multi-family
Year Built:
1950
Basement:
Full; unfinished (both)
Const. Type:
Frame (both)

Call (800) 788-9882 for more details

Property Location