5304-5310 Dresden WayPittsburgh, PA 15201

This exceptional mixed-use property, located at 5304-5310 Butler Street & 5305-5311 Dresden Way in Pittsburgh, Pennsylvania's desirable Upper Lawrenceville neighborhood, offers a compelling investment opportunity. The 9,000 square foot building comprises ten units: eight residential apartments (approximately 750 sq ft each, one bedroom/one bath) and two street-level commercial spaces currently occupied by a bakery and a coffee shop (which subleases space to a skincare business). The property sits on a 6,000 square foot lot and includes four vacant lots along Dresden Way, presenting significant development potential for additional revenue streams, such as parking or further construction. The current asking price is $2,400,000, translating to $267 per square foot and $240,000 per unit. The property boasts a current NOI of $153,791 and a pro-forma NOI of $181,146, resulting in a current cap rate of 6.41% and a pro-forma cap rate of 7.54%. Tenants are responsible for gas and electricity, while the owner covers water and sewage. On-site laundry facilities are available for tenants. The property benefits from minimal landlord expenses, with tenants and city services handling trash, landscaping, and snow removal. The building's prime location in Upper Lawrenceville, known for its vibrant dining, nightlife, and arts scene, ensures strong rental demand. Current rents are below market rates, offering significant upside potential for future revenue growth. The proximity to established businesses, including a premier restaurant and a historic firehouse undergoing substantial redevelopment, further enhances the property's value and long-term prospects.