4-Unit Apartment and
421-423 Forest Avenue, Johnstown, PA 15902
New
MULTI_FAMILY - Johnstown, PA
Property size:
700 SFLot size:
0.11 AcresPrice / SF:
$73/SF- Added:
- Jun 15, 2026
- Days on Market:
- 4
- Last Refresh:
- Jun 18 at 8:06 am
Property Features for 421-423 Forest Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Residential
- Bedrooms
- 6
- Bathrooms
- 5
- Rooms
- Bathroom 2, Bathroom 5, Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 5, Bathroom 1, Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 4
- Standard status
- Active
- APN
- 87-021.-306.000, 08701109
- Size
- 700 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Description
- 421 & 423 FOREST APT 1,2,3 &4 40 X 120 2H G
- Tax Annual Amount
- 2214
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Number of units
- 5
- Building materials
- Frame
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Theresa Subich (814) 248-9053
Listing office BHHS Preferred Johnstown Johnstown, PA (814) 701-4084
Listing date Jun 15, 2026
MLS# 96041847
Listing URL
Copyright © 2026 Cambria Somerset Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 4‑unit apartment building with separate bedrooms plus eat‑in kitchen/dining and living rooms in each unit
- Unit 4 is 70% complete with new plumbing, bathtub, vanity, toilet, flooring, and new electrical panel/circuit breakers
- Three of the four apartments have new upgraded electric panels with breakers; all electric has been inspected and approved
- Shared covered porches for all 4 apartments; single‑family home also has a large covered front porch
- All basements are completely dry with no water damage; 4‑unit building basement is large enough for 2 additional 1‑bedroom apartments
- Public utilities: public water and public sewer; roof is shingle and construction material is frame
Overview
This AS-IS multi-building residential income property includes a 4-unit apartment building and a single-family home. The 4-unit layout features separate bedrooms in each unit along with an eat-in kitchen/dining area and living room. New steps have been added leading up to the second level, and all four units have large, covered porches. Renovations are underway: unit 4 is approximately 70% complete with new plumbing fixtures, flooring, and electrical updates including a new electric panel with circuit breakers. The original kitchen built-in cabinets are in place, with remaining work limited to additional base cabinet and sink items. The other three apartments require additional bathroom and flooring work, as well as kitchen base cabinet and sink completion.
The seller indicates that sewer work remains to be completed. The property’s electric work has been inspected and approved, and the heating plan includes converting all apartments to electric. The single-family home has a large covered front porch and also requires interior completion including kitchen base cabinet/sink items and bathroom fixture updates. Both buildings have basements reported as completely dry with no water damage.
For tenants or owner-occupants seeking a residential income setup that is already seeing electrical modernization, this property offers independent unit layouts and covered porch access. With electric panels upgraded in three of the four apartments and an electric conversion planned for all units, the improvements appear to be progressing through a defined scope, while sewer completion remains a key remaining item.
The seller indicates that sewer work remains to be completed. The property’s electric work has been inspected and approved, and the heating plan includes converting all apartments to electric. The single-family home has a large covered front porch and also requires interior completion including kitchen base cabinet/sink items and bathroom fixture updates. Both buildings have basements reported as completely dry with no water damage.
For tenants or owner-occupants seeking a residential income setup that is already seeing electrical modernization, this property offers independent unit layouts and covered porch access. With electric panels upgraded in three of the four apartments and an electric conversion planned for all units, the improvements appear to be progressing through a defined scope, while sewer completion remains a key remaining item.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $7.1k | $10.20 |
| − Vacancy | −$535 | −$0.77 |
| EGI | $6.6k | $9.44 |
| − OpEx | −$2.0k | −$2.83 |
| NOI | $4.6k | $6.60 |
700 SF · lease $10.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$66.0K
$57.8K – $77.1K
NOI $4,623 @ 7.0% cap · market cap 8.98%
Second Best
Apartment 5plus
$61.4K
$53.7K – $71.6K
NOI $4,297 @ 7.0% cap · market cap 8.34%
Theoretical Best
Office A
$211.2K
$184.8K – $246.4K
NOI $14,784 @ 7.0% cap · market cap 28.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Johnstown
- County
- Cambria
- State
- Pennsylvania
- Longitude
- -78.9034995
- Latitude
- 40.2970326
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - AS-IS residential income property with a partially completed 4-unit building, dry basements, and electric rewiring in progress.
Where is this quadplex located?
The property is located at 421-423 Forest Avenue Johnstown, PA.
What is the asking price?
The asking price for this property is $51,500.
What are key features of this property?
This property features: 4‑unit apartment building with separate bedrooms plus eat‑in kitchen/dining and living rooms in each unit; Unit 4 is 70% complete with new plumbing, bathtub, vanity, toilet, flooring, and new electrical panel/circuit breakers; Three of the four apartments have new upgraded electric panels with breakers; all electric has been inspected and approved
