1202 Wood StPittsburgh, PA 15221

For Sale
$775,000

21-Unit Multifamily Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
94
This 21-unit apartment building in Pittsburgh, Pennsylvania, presents a compelling value-add opportunity. Located at 1202 Wood St, this multifamily property boasts 18,000 square feet on a 0.15-acre lot and is currently priced at $775,000 ($43/sq ft and $36,904/unit). The building comprises fifteen one-bedroom, one-bathroom units and six studio apartments. Currently operating at 71.4% occupancy, with six vacant units (one rent-ready, five needing minor renovations), this property offers significant upside potential. A seller credit of $80,000 is available at closing to assist with an electrical system upgrade, projected to halve insurance costs. The building benefits from a 2014 roof (under warranty) and a 2021 boiler installation. Expenses are currently above average due to the building's condition

Highlights

  • 21-unit multifamily building: 15 one-bedroom/one-bathroom units and 6 studios.
  • Significant value-add opportunity through electrical upgrades, unit renovations, and lease-up of six vacant units (one rent-ready).
  • Convenient location: same block as Wood & Hill Street bus stop.
  • $80,000 seller credit at closing for electrical system upgrades.

Property Details for 1202 Wood St

Property type
Multifamily properties, Apartment buildings
Square Feet
18,000 SF
Lot Size (sq. ft)
6,534 SF
Units
21

Location Insight

City
Pittsburgh
County
Allegheny
State
Pennsylvania
Latitude
40.4453404
Longitude
-79.8835574
1202 Wood St, Pittsburgh, Pennsylvania

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1202 Wood St
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