Description
Calling all Investors! Cash-flowing, turnkey mixed-use investment opportunity in Indiana Township, just minutes from Fox Chapel! This unique income-producing property offers a diversified investment portfolio with residential and commercial income streams, making it an excellent addition to any investor's portfolio.
The property includes a mixed-use building featuring a plumbing office and commercial storage/shop with three two-bedroom apartments. Two of the apartments are located on the first floor with the plumbing office and storage/shop, while the third apartment is located on the second floor. The property also includes a separate three-bay automotive garage, a detached log cabin-style single-family residence with three to four bedrooms, and an additional vacant parcel (Tax ID: 0953-S-00056-0000-00) included in the sale. Apartment C has recently become vacant, and a replacement tenant has already been identified.
Current gross scheduled rental income is approximately $64,080 annually, with rents believed to be below current market levels, presenting an excellent value-add opportunity through future rental increases. Tenants are responsible for their own gas and electric service, and the single-family residence tenant pays all utilities. The landlord currently pays only water, sewer, and real estate taxes, contributing to relatively low operating expenses. Based upon the current income and estimated operating expenses, the estimated capitalization rate is approximately 6.74% to 7.88%, with an estimated pro forma capitalization rate of approximately 10.14% to 11.43%.
The property features separately metered utilities, slab-on-grade construction with no basements, stable residential and commercial tenancy, and a diverse mix of income sources. Conveniently located with easy access to Route 8, Fox Chapel, Pittsburgh, and surrounding communities.
Whether you are looking to expand your investment portfolio or acquire a mixed-use property with immediate cash flow and long-term upside potential, this property is one you will not want to miss.
Minimum 48-hour notice is required for all showings. The property is currently zoned Village Residential by Indiana Township with the existing limited commercial uses. Buyer is responsible for independently verifying zoning, permitted uses, measurements, leases, rental income, operating expenses, capitalization rates, and all other property information. All information is deemed reliable but is not guaranteed.
