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7056 Fletcher Way Pittsburgh, PA 15208

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115-unit affordable housing portfolio in Pittsburgh, Pennsylvania.

Source: Jamie Coté Agent Jamie Coté

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

115-Unit Affordable Housing Portfolio

This 115-unit affordable housing portfolio is located in the Homewood South neighborhood of Pittsburgh, Pennsylvania. The 110 units are spread across 21 buildings and have an in place Housing Assistance Payments (HAP) contract covering the entire portfolio. The property is being sold subject to the approval of the United States Bankruptcy Court. This sizable offering presents investors the ability to acquire a large number of units in a central location that is experiencing steady growth and could represent significant upside through stabilization, renovation, more efficient management and that steady population increase. The buildings currently operate at 80% occupancy in a market with a 96% occupancy rate. This offering allows existing owner/operators the ability to grow their existing portfolio and optimize their in-place management team. Alternatively this investment could bring someone's portfolio to the next level. Both scenarios offer investors a tremendous value add opportunity. Deferred maintenance and capital expenditures offer upside to astute investors. Rents are significantly under market.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Dominique Tea Shop Tea Store

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Pittsburgh
County
Allegheny
State
Pennsylvania
Longitude
-79.8981347
Latitude
40.460245

FAQs

What type of property is this?
Apartment building - 115-unit affordable housing portfolio in Pittsburgh, Pennsylvania.
Where is this apartment building located?
The property is located at 7056 Fletcher Way Pittsburgh, PA.
What are key features of this property?
This property features: - 115-unit affordable housing portfolio in Pittsburgh, PA; - In-place Housing Assistance Payments (HAP) contract covering all 110 units; - Opportunity to increase occupancy from 80% to the market rate of 96%
More about this property
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