48-Unit Apartment Complex in
For Sale
$3,350,000
1005-1015 Willowbrook Dr, Greensburg, PA 15601
48-unit apartment complex in a quiet neighborhood in Greensburg.
Property Size35,680 SF
Days on Market151
Property Features for 1005-1015 Willowbrook Dr
General Information
Standard status
Active
Size
35,680 SF
Property subtype
Multifamily
Building Details
Building Size
35,680 SF
Year Built
1967
Listing Agency:
SVN | Three Rivers Commercial Advisors
Listed By:
Bryan Donaldson · License #PA #RS273805
(724) 272-4225
Source:
Svn
Added: May 14
Changed: Oct 10
Last Checked: Oct 11 at 4:03AM
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 SVN | Three Rivers Commercial Advisors
Investment Insights
Based on property information with market context.
This property features a 48-unit apartment complex constructed in 1967, situated in Greensburg, Pennsylvania. The complex comprises four residential buildings. The unit mix includes 44 one-bedroom units and 4 efficiency units. The property is located in a quiet neighborhood with convenient access to amenities such as the Westmoreland Mall, Live! Casino Pittsburgh, restaurants, shops, and grocery stores. This property presents a value-add opportunity.
Key Highlights
- 48‑unit apartment complex offers significant investment potential.
- Convenient location provides easy access to Westmoreland Mall, Live! Casino Pittsburgh, restaurants, shops, and grocery stores.**
- Consists of (44) one‑bedroom units and (4) efficiency units.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$282,736
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,654,720
$5.7M
Cap Rate 7%
$4,039,086
$4.0M
Cap Rate 9%
$3,141,511
$3.1M
Market Conditions
NOI Build-Up for 35,680 SF
Gross rent
$548.0K $15.36/SF
− Vacancy
−$34.0K −$0.95/SF
EGI
$514.1K $14.41/SF
− OpEx
−$231.3K −$6.48/SF
NOI
$282.7K $7.92/SF
Area
Westmoreland County, PA
Vacancy
6.20%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,654,720
Cap Rate 7%
$4,039,086
Cap Rate 9%
$3,141,511
Alternative Uses
Best Use
Apartment 5plus
$4.04M
$3.53M – $4.71M
NOI $282,736 @ 7.0% cap · market cap 8.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.09M
$7.95M – $10.60M
NOI $636,177 @ 7.0% cap · market cap 18.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
Explore this area
Business Placement
Demographics for 15601, PA
57,141
Population
25,978
Households
2.2
Avg Household Size
47
Median Age
40%
College-Educated
96%
High-School Grad
80.6 sq mi
ZIP Area
709
Density / Sq Mi
$75,369
Median Household Income
$41,485
Median Earnings
$868
Median Rent
$209,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - 48-unit apartment complex in a quiet neighborhood in Greensburg.
Where is this apartment building located?
The property is located at 1005-1015 Willowbrook Dr Greensburg, PA.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: 48‑unit apartment complex offers significant investment potential.; Convenient location provides easy access to Westmoreland Mall, Live! Casino Pittsburgh, restaurants, shops, and grocery stores.**; Consists of (44) one‑bedroom units and (4) efficiency units.
