12-Unit Apartment
New
For Sale
$1,299,900
1-12 Ritenour Dr, Connellsville, PA 15425
Single-level residences include private patios, separate utilities, and central air conditioning in every unit.
Property Size9,996 SF
Price / SF$130.04
Days on Market4
Property Features for 1-12 Ritenour Dr
General Information
Standard status
Active
Size
9,996 SF
Property subtype
Residential Income
Units
Unit Mix
12 x 2BR/1BA
Multifamily Units
12
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Annual Taxes
$8,544
Amenities
private patio space
central air conditioning
paved parking
Building Details
Stories
1
Listing Agency:
BHHS Preferred Somerset
(814) 443-4858
Listed By:
Wendy Kelly · License #AB068753
(814) 233-5058
Source:
Exprealty
Added: Oct 30
Changed: Nov 1
Last Checked: Nov 1 at 4:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS Preferred Somerset
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 12-unit apartment property is arranged as single-level residences, each with 2 bedrooms, 1 full bath, and approximately 750 square feet of living space. Every unit has its own private patio and central air conditioning, with separate utilities serving each residence. Paved parking provides off-street spaces for residents.
Key Highlights
- 12 apartments, each with 2 bedrooms and 1 full bath
- Approximately 750 square feet per unit
- Separate utilities for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,778
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,635,560
$1.6M
Cap Rate 7%
$1,168,257
$1.2M
Cap Rate 9%
$908,644
$908.6K
Market Conditions
NOI Build-Up for 9,996 SF
Gross rent
$159.5K $15.96/SF
− Vacancy
−$10.8K −$1.09/SF
EGI
$148.7K $14.87/SF
− OpEx
−$66.9K −$6.69/SF
NOI
$81.8K $8.18/SF
Area
Fayette County, PA
Vacancy
6.80%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,635,560
Cap Rate 7%
$1,168,257
Cap Rate 9%
$908,644
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,778 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.55M
$2.23M – $2.97M
NOI $178,229 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 15425, PA
17,975
Population
8,603
Households
2.1
Avg Household Size
46
Median Age
19%
College-Educated
91%
High-School Grad
57.7 sq mi
ZIP Area
312
Density / Sq Mi
$53,859
Median Household Income
$40,927
Median Earnings
$697
Median Rent
$129,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Single-level residences include private patios, separate utilities, and central air conditioning in every unit.
Where is this apartment building located?
The property is located at 1-12 Ritenour Dr Connellsville, PA.
What is the asking price?
The asking price for this property is $1,299,900.
What are key features of this property?
This property features: 12 apartments, each with 2 bedrooms and 1 full bath; Approximately 750 square feet per unit; Separate utilities for each residence
