Multi-Unit Residential Portfolio
235 / 224 Saint Joseph St Loretto, PA 15940
For Sale
$875,000
Two brick multifamily buildings with 10 total units and off-street blacktop parking for about seven to nine vehicles each.
Property Size10,302 SF
Price / SF$84.93
Days on Market9
Property Features for 235 / 224 Saint Joseph St
General Information
Standard status
Active
Size
10,302 SF
Listing Agency:
RE/MAX POWER Associates
(814) 241-6881
Listed By:
James Hanley · License #AB068327
(814) 241-6881
Source:
Exprealty
Added: Jul 22
Changed: Jul 29
Last Checked: Jul 29 at 4:52AM
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 RE/MAX POWER Associates
Investment Insights
Based on property information with market context.
This for-sale package includes two multi-unit residential buildings sold together. The St. Mary Street building contains five units configured with two bedrooms, one-and-one-half bathrooms, a kitchen, and a living room. The St. Joseph Street building contains five units with a mix of one three-bedroom, 1.5-bath unit and four two-bedroom, 1.5-bath units, each with a large living room and kitchen. The portfolio is improved with brick, block, and vinyl construction, shingle roofs, electric baseboard heat, public water and public sewer, and a 200-amp electrical service with breakers.
Each building offers blacktop parking for approximately seven to nine vehicles. The St. Joseph Street property also includes a separate utility room for the hot-water tank and additional space used as an office or paid-to-use laundry area. Appliances and certain furnishings within the units are included with the sale, subject to the terms of the agreement; tenant-owned personal property is excluded.
Financial information, occupancy details, leases, and additional documentation are available to qualified buyers upon request.
Each building offers blacktop parking for approximately seven to nine vehicles. The St. Joseph Street property also includes a separate utility room for the hot-water tank and additional space used as an office or paid-to-use laundry area. Appliances and certain furnishings within the units are included with the sale, subject to the terms of the agreement; tenant-owned personal property is excluded.
Financial information, occupancy details, leases, and additional documentation are available to qualified buyers upon request.
Key Highlights
- Sold together: two multifamily buildings at 224 St. Mary St and 235 St. Joseph St in Loretto, PA
- 10 total residential units total (5 units per building) on the Saint Francis University campus
- St. Joseph building: approx. 5,712 SF with one 3BD/1.5BA unit and four 2BD/1.5BA units
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $123.6k | $12.00 |
| − Vacancy | −$8.7k | −$0.84 |
| EGI | $115.0k | $11.16 |
| − OpEx | −$51.7k | −$5.02 |
| NOI | $63.2k | $6.14 |
10,302 SF · lease $12.00/SF/yr · vacancy 7.00% · expense 45.00%
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
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Two brick multifamily buildings with 10 total units and off-street blacktop parking for about seven to nine vehicles each.
Where is this apartment building located?
The property is located at 235 / 224 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: Sold together: two multifamily buildings at 224 St. Mary St and 235 St. Joseph St in Loretto, PA; 10 total residential units total (5 units per building) on the Saint Francis University campus; St. Joseph building: approx. 5,712 SF with one 3BD/1.5BA unit and four 2BD/1.5BA units
