917 Dohrman StMcKees Rocks, PA 15136

For Sale
$189,000

Stabilized multifamily investment, high cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a meticulously maintained, two-story mixed-use building in McKees Rocks, Pennsylvania. The property, built in 1962 and renovated in 2019, boasts 2,500 square feet situated on a 0.02-acre lot. It features two units: a ground-floor hair salon and a second-floor one-bedroom apartment, each with a separate entrance. Both units are currently 100% occupied under a net-net lease agreement with a remaining term of 2.6 years (commencing January 1, 2023, and expiring June 30, 2027). The building offers two parking spaces per unit. The property generates a strong net operating income (NOI) of $15,000, resulting in a compelling 7.94% capitalization rate. Tenants are responsible for all electric costs (heat, AC, and lights), while the owner covers water and sewer expenses. The Allegheny County property is zoned commercial and offers a significant return on investment. The asking price is $189,000, or $94,500 per unit, and the price per square foot is $75.60. This is a rare opportunity to acquire a stabilized, cash-flowing asset with long-term tenants in a desirable location.

Highlights

  • Exceptional investment opportunity: A well-maintained, low-maintenance two-story duplex in McKees Rocks, PA, offering strong cash flow.
  • Two long-term tenants are under five-year leases, ensuring consistent income.
  • The property consists of a ground-floor commercial space (hair salon) and a second-floor one-bedroom apartment, each with a separate entrance.
  • Tenants pay all electric (heat, AC, lights); landlord pays water and sewer.
  • High 7.94% capitalization rate.

Property Details for 917 Dohrman St

Property type
Multifamily properties, Apartment buildings
Square Feet
2,500 SF
Class
B
Year Built/Renovated
1962/2019
Buildings
1
Stories
2
Lot Size (sq. ft)
871 SF
Units
2

Location Insight

City
McKees Rocks
County
Allegheny
State
Pennsylvania
Latitude
40.4732474
Longitude
-80.0742521
917 Dohrman St, McKees Rocks, Pennsylvania

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917 Dohrman St
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