1703 Carson StPittsburgh, PA 15203

For Sale
$775,000

Prime location, 5-unit building, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional Class A mixed-use property, located at 1703 E Carson St in Pittsburgh, Pennsylvania's vibrant South Side, presents a compelling investment opportunity. The 6,000 square foot building, situated on a 0.6-acre lot (APN 12-E-00305), comprises two buildings with four stories and features five units: three spacious apartments and a remodeled three-bedroom single-family home. Completely renovated in 2019, the property boasts a newer roof and updated mechanical systems, minimizing maintenance concerns. Currently operating at 100% occupancy since June 28, 2023, with five credit-rated tenants under one-year leases expiring June 28, 2024, the property generates a substantial Net Operating Income (NOI) of $75,000, resulting in a 9.68% cap rate. The asking price is $775,000, translating to $129.17 per square foot and $155,000 per unit. The property is zoned for commercial use and offers a stabilized, core investment opportunity, ideal for a 1031 exchange. This turnkey investment benefits from its prime location, strong rental potential, and established income stream, making it an attractive addition to any portfolio. The property's updated amenities and infrastructure ensure efficient operation and high tenant satisfaction.

Highlights

  • Low-maintenance investment with 2019 remodel maximizing efficiency.
  • 2019 complete remodel providing a modern look and enhanced value.
  • Newer roof and mechanical systems minimizing maintenance expenses.
  • Five units: three apartments and a three-bedroom single-family home.
  • Prime South Side Pittsburgh location.
  • Strong rental potential due to well-maintained units and desirable location.

Property Details for 1703 Carson St

Property type
Multifamily properties, Apartment buildings
Square Feet
6,000 SF
Class
A
Year Renovated
2019
Buildings
2
Stories
4
Lot Size (sq. ft)
26,136 SF
Units
5

Location Insight

City
Pittsburgh
County
Allegheny
State
Pennsylvania
Latitude
40.429124
Longitude
-79.981812
1703 Carson St, Pittsburgh, Pennsylvania

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1703 Carson St
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