Well-Maintained Quadplex with
For Sale
$675,000
1258 Illinois Avenue, Pittsburgh, PA 15216
Four well-maintained units include a 3-car garage and tenant-access rear patio.
Property Size4,800 SF
Price / SF$140.63
Days on Market98
Property Features for 1258 Illinois Avenue
General Information
Standard status
Active
Size
4,800 SF
Total Parking Spaces
3
Property subtype
Multi-Unit / Fourplex
Zoning
MUL
Net Operating Income
$37,930
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,920
Amenities
Yes
0.0
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
ALLEGHENY MULTI FAMILY LLC
(412) 445-6884
Listed By:
David Poluszejko · License #RM425012
(412) 445-6884
Source:
Compass
Added: May 18
Changed: Aug 23
Last Checked: Aug 22 at 7:42AM
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 ALLEGHENY MULTI FAMILY LLC
Investment Insights
Based on property information with market context.
1258 Illinois Avenue is a well-maintained four-unit quadplex with a 3-car garage and a rear patio area for tenant use. The property provides storage for each resident and includes onsite laundry. The top-floor apartment has been completely redone and features its own laundry and air conditioning.
Located in the Pittsburgh suburb of Dormont, the property sits about 6 miles south of downtown Pittsburgh. Dormont is described as a 10–15 minute drive, with T light rail running through the borough; a park-and-ride is available and most residents can walk to it in about 5 minutes. The combination of affordable, walkable suburb access and transit options is presented as a key driver of the area’s rental demand.
Located in the Pittsburgh suburb of Dormont, the property sits about 6 miles south of downtown Pittsburgh. Dormont is described as a 10–15 minute drive, with T light rail running through the borough; a park-and-ride is available and most residents can walk to it in about 5 minutes. The combination of affordable, walkable suburb access and transit options is presented as a key driver of the area’s rental demand.
Key Highlights
- Four‑unit property in Dormont with 3‑car garage and tenant‑access rear patio area
- Top‑floor apartment has been completely redone, with in‑unit laundry and air conditioning
- Each unit is approximately 1,200 sq ft
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$54,664
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,093,280
$1.1M
Cap Rate 7%
$780,914
$780.9K
Cap Rate 9%
$607,378
$607.4K
Market Conditions
NOI Build-Up for 4,800 SF
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.
Gross rent
$83.5K $17.40/SF
− Vacancy
−$5.4K −$1.13/SF
EGI
$78.1K $16.27/SF
− OpEx
−$23.4K −$4.88/SF
NOI
$54.7K $11.39/SF
Area
Pittsburgh, PA
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,093,280
Cap Rate 7%
$780,914
Cap Rate 9%
$607,378
Alternative Uses
Best Use
Multifamily LT 5
$780.9K
$683.3K – $911.1K
NOI $54,664 @ 7.0% cap · market cap 8.10%
Second Best
Apartment 5plus
$723.2K
$632.8K – $843.8K
NOI $50,625 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $107,009 @ 7.0% cap · market cap 15.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
899
Businesses Nearby
Explore this area
Business Placement
Demographics for 15216, PA
22,966
Population
11,194
Households
2.1
Avg Household Size
38
Median Age
47%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
6,755
Density / Sq Mi
$81,542
Median Household Income
$48,674
Median Earnings
$1,078
Median Rent
$193,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four well-maintained units include a 3-car garage and tenant-access rear patio.
Where is this quadplex located?
The property is located at 1258 Illinois Avenue Pittsburgh, PA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Four‑unit property in Dormont with 3‑car garage and tenant‑access rear patio area; Top‑floor apartment has been completely redone, with in‑unit laundry and air conditioning; Each unit is approximately 1,200 sq ft
