Four-Unit Multifamily
639 S Ankeny Ave, Somerset, PA 15501
For Sale
$242,500
Two-building rental asset with recent renovations and 2024 roof replacements in Somerset Borough.
Property Size1,810 SF
Price / SF$133.98
Days on Market109
Property Features for 639 S Ankeny Ave
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Buildings
Listing Agency:
REALTY ONE GROUP LANDMARK JOHNSTOWN
(814) 408-6495
Listed By:
Kaylee Hribar · License #RS373519
(814) 624-9479
Source:
Exprealty
Added: Jul 23
Changed: Oct 26
Last Checked: Nov 8 at 6:56AM
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 REALTY ONE GROUP LANDMARK JOHNSTOWN
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Investment Insights
Based on property information with market context.
This multifamily property includes four rental units distributed between two separate buildings. The front building has undergone a recent remodel, while both structures received new roofs in 2024. Together, these improvements provide updated interior finishes in one building and recent exterior work across the property.
Located at 639 S Ankeny Ave in Somerset Borough, the property is near shopping, dining, schools, and major roadways. The two-building configuration and four-unit layout support a diversified residential rental setup within a single asset.
Located at 639 S Ankeny Ave in Somerset Borough, the property is near shopping, dining, schools, and major roadways. The two-building configuration and four-unit layout support a diversified residential rental setup within a single asset.
Key Highlights
- Four rental units across two separate buildings
- Front building recently remodeled with updated finishes
- New roofs installed on both buildings in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,841
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,820
$276.8K
Cap Rate 7%
$197,729
$197.7K
Cap Rate 9%
$153,789
$153.8K
Market Conditions
NOI Build-Up for 1,810 SF
Gross rent
$26.7K $14.76/SF
− Vacancy
−$1.5K −$0.86/SF
EGI
$25.2K $13.90/SF
− OpEx
−$11.3K −$6.26/SF
NOI
$13.8K $7.65/SF
Area
Somerset County, PA
Vacancy
5.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,820
Cap Rate 7%
$197,729
Cap Rate 9%
$153,789
Alternative Uses
Best Use
Apartment 5plus
$197.7K
$173.0K – $230.7K
NOI $13,841 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$573.4K
$501.7K – $669.0K
NOI $40,139 @ 7.0% cap · market cap 16.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
967
Businesses Nearby
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Business Placement
Demographics for 15501, PA
16,277
Population
7,656
Households
2.1
Avg Household Size
46
Median Age
20%
College-Educated
89%
High-School Grad
132.0 sq mi
ZIP Area
123
Density / Sq Mi
$55,797
Median Household Income
$35,311
Median Earnings
$731
Median Rent
$162,300
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Somerset County, PA
Properties on Market for Multifamily properties in Somerset County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two-building rental asset with recent renovations and 2024 roof replacements in Somerset Borough.
Where is this multifamily property located?
The property is located at 639 S Ankeny Ave Somerset, PA.
What is the asking price?
The asking price for this property is $242,500.
What are key features of this property?
This property features: Four rental units across two separate buildings; Front building recently remodeled with updated finishes; New roofs installed on both buildings in 2024
