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Velma Apartments 1232 Church Ave

8 Unit Block of Flats £349,985 (£43,748/Unit) 9.91% Net Initial Yield Mc Kees Rocks, PA 15136

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Investment Highlights

Nice value add property near the city
Many recent upgrades

Spacious units
Parking on site

Executive Summary

SVN Three Rivers Commercial Advisors is pleased to present the Velma Apartments for sale. This 8 unit property is located just a few minutes from downtown Pittsburgh in the neighborhood of McKees Rocks. Current ownership has made recent capital improvements to most units which include new flooring, paint, kitchen & bath fixtures, furnaces and water heaters. All units are 2BA/1BA and tenants are responsible for their own utilities; water, gas and electric are separated, sewer is paid by landlord and billed back to tenants. Landlord pays for trash removal.

Property Facts

Price	£349,985	Building Class	C
Price Per Unit	£43,748	Lot Size	0.22 AC
Sale Type	Investment	Building Size	8,370 SF
Net Initial Yield	9.91%	Average Occupancy	75%
Gross Rent Multiplier	6.23	Number of Floors	2
No. Units	8	Year Built	1900
Property Type	Residential	Parking Ratio	0.84/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low Rise

Price	£349,985
Price Per Unit	£43,748
Sale Type	Investment
Net Initial Yield	9.91%
Gross Rent Multiplier	6.23
No. Units	8
Property Type	Residential
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.22 AC
Building Size	8,370 SF
Average Occupancy	75%
Number of Floors	2
Year Built	1900
Parking Ratio	0.84/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.