10-Unit Apartment Building
New
For Sale
$875,000
224-235 Saint Joseph St, Loretto, PA 15940
Two residential buildings near Saint Francis University offer off-street parking and a mix of apartment layouts.
Property Size10,302 SF
Price / SF$84.93
Days on Market2
Property Features for 224-235 Saint Joseph St
General Information
Standard status
Active
Size
10,302 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
10
Amenities
laundry area
Building Details
Year Built
2008
Buildings
2
Construction
brick, block, and vinyl
Listing Agency:
Perry Wellington Realty, LLC
Listed By:
John Hill Real Estate
(814) 944-9377
Source:
Johnhillhomesearch
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 6 at 2:27AM
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 Perry Wellington Realty, LLC
Investment Insights
Based on property information with market context.
This offering combines two apartment buildings for a total of 10 residential units and approximately 10,302 square feet. The St. Mary Street building contains approximately 4,590 square feet, while the St. Joseph Street building has approximately 5,712 square feet. Building materials include brick, block, and vinyl, with shingle roofs and electric baseboard heat. Both properties have public water and sewer, 200-amp electrical service with breakers, and blacktop parking for approximately seven to nine vehicles per building.
The buildings are near Saint Francis University in Loretto. The St. Joseph Street property also has a separate utility room for the hot-water tank and an area used as an office or paid-use laundry space. Appliances and certain furnishings are included subject to the sale agreement; tenant-owned personal property is excluded. The properties are being offered together.
The buildings are near Saint Francis University in Loretto. The St. Joseph Street property also has a separate utility room for the hot-water tank and an area used as an office or paid-use laundry space. Appliances and certain furnishings are included subject to the sale agreement; tenant-owned personal property is excluded. The properties are being offered together.
Key Highlights
- Two apartment buildings offered together with 10 residential units
- Approximately 10,302 square feet combined: 5,712 square feet on St. Joseph Street and 4,590 square feet on St. Mary Street
- Near Saint Francis University in Loretto
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,234
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,264,680
$1.3M
Cap Rate 7%
$903,343
$903.3K
Cap Rate 9%
$702,600
$702.6K
Market Conditions
NOI Build-Up for 10,302 SF
Gross rent
$123.6K $12.00/SF
− Vacancy
−$8.7K −$0.84/SF
EGI
$115.0K $11.16/SF
− OpEx
−$51.7K −$5.02/SF
NOI
$63.2K $6.14/SF
Area
Cambria County, PA
Vacancy
7.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,264,680
Cap Rate 7%
$903,343
Cap Rate 9%
$702,600
Alternative Uses
Best Use
Apartment 5plus
$903.3K
$790.4K – $1.05M
NOI $63,234 @ 7.0% cap · market cap 7.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.11M
$2.72M – $3.63M
NOI $217,578 @ 7.0% cap · market cap 24.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 15940, PA
3,712
Population
773
Households
4.8
Avg Household Size
33
Median Age
19%
College-Educated
90%
High-School Grad
24.4 sq mi
ZIP Area
152
Density / Sq Mi
$86,250
Median Household Income
$9,489
Median Earnings
$720
Median Rent
$236,400
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?
Apartment building - Two residential buildings near Saint Francis University offer off-street parking and a mix of apartment layouts.
Where is this apartment building located?
The property is located at 224-235 Saint Joseph St Loretto, PA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two apartment buildings offered together with 10 residential units; Approximately 10,302 square feet combined: 5,712 square feet on St. Joseph Street and 4,590 square feet on St. Mary Street; Near Saint Francis University in Loretto
