Historic Three-Unit Multifamily
For Sale
$475,000
1327 Sheffield St, Pittsburgh, PA 15233
ResidentialIncome, Pittsburgh, PA
Property Size3,465 SF
Lot Size0.03 Acres
Price / SF$137.09
Days on Market15
Property Features for 1327 Sheffield St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R2-H
Zoning description
R2-H
Parking
2
Parking features
Off Street
Elementary school district
Pittsburgh
Middle school district
Pittsburgh
High school district
Pittsburgh
Directions
GPS or Allegheny Ave to Shefield
Subdivision
Manchester
Standard status
Active
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
2659
Amenities
historic fireplaces and mantles
woodwork
tall ceilings
lovely outdoor garden space
Building Details
Year built
1877
Number of units
3
Roof type
Composition
Listing Agency:
RE/MAX REALTY BROKERS · RE/MAX International
(412) 521-1000
Listed By:
Mark McAdams-Templeton
(412) 657-7523
Added: Aug 22
Changed: Sep 4
Last Checked: Sep 5 at 12:06AM
MLS# 1771064
Copyright © 2026 West Penn Multi List, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1877, this three-unit multifamily property contains approximately 3,465 square feet in Pittsburgh’s Manchester neighborhood. Each unit has separate gas and electric utilities, while the building retains historic fireplaces, mantels, woodwork, and tall ceilings. Additional features include a newer composition roof, outdoor garden space, and two off-street parking spaces. The property occupies a 0.0349-acre lot and is zoned R2-H.
The address is on Sheffield Street in Manchester, with Downtown Pittsburgh, the North Shore, Acrisure Stadium, PNC Park, Allegheny General Hospital, restaurants, entertainment, and major transportation routes nearby. Its three-unit configuration, historic character, and separate utilities provide a defined multifamily layout within the North Side area.
The address is on Sheffield Street in Manchester, with Downtown Pittsburgh, the North Shore, Acrisure Stadium, PNC Park, Allegheny General Hospital, restaurants, entertainment, and major transportation routes nearby. Its three-unit configuration, historic character, and separate utilities provide a defined multifamily layout within the North Side area.
Key Highlights
- Three‑unit multifamily property with approximately 3,465 sq‑ft
- Separate gas and electric utilities for the units
- Built in 1877 with historic fireplaces, mantels, and woodwork
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
$39,460
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
8.31%
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%
$789,200
$789.2K
Cap Rate 7%
$563,714
$563.7K
Cap Rate 9%
$438,444
$438.4K
Market Conditions
NOI Build-Up for 3,465 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
$60.3K $17.40/SF
− Vacancy
−$3.9K −$1.13/SF
EGI
$56.4K $16.27/SF
− OpEx
−$16.9K −$4.88/SF
NOI
$39.5K $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%
$789,200
Cap Rate 7%
$563,714
Cap Rate 9%
$438,444
Alternative Uses
Best Use
Multifamily LT 5
$563.7K
$493.3K – $657.7K
NOI $39,460 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$522.1K
$456.8K – $609.1K
NOI $36,545 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$1.10M
$965.6K – $1.29M
NOI $77,247 @ 7.0% cap · market cap 16.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 15233, PA
2,656
Population
1,730
Households
1.5
Avg Household Size
39
Median Age
46%
College-Educated
97%
High-School Grad
1.3 sq mi
ZIP Area
2,043
Density / Sq Mi
$71,902
Median Household Income
$58,997
Median Earnings
$1,032
Median Rent
$305,600
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?
Triplex - Three separate units feature independent gas and electric utilities, along with off-street parking and outdoor garden space.
Where is this triplex located?
The property is located at 1327 Sheffield St Pittsburgh, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Three‑unit multifamily property with approximately 3,465 sq‑ft; Separate gas and electric utilities for the units; Built in 1877 with historic fireplaces, mantels, and woodwork
