Two-Unit Duplex with Walk-Up
New
For Sale
$189,500
720 2nd Ave, Altoona, PA 16602
The apartments have one- and two-bedroom layouts, with separate heating and utility arrangements.
Property Size2,244 SF
Price / SF$84.45
Days on Market3
Property Features for 720 2nd Ave
General Information
Standard status
Active
Size
2,244 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1900
Stories
2
Listing Agency:
Perry Wellington Realty, LLC
Listed By:
John Hill Real Estate
(814) 944-9377
Source:
Johnhillhomesearch
Added: Oct 30
Changed: Oct 31
Last Checked: Oct 30 at 2:15PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1900, this 2,244-square-foot duplex is arranged as an upper and lower apartment on a 26-by-70-foot lot. The first-floor unit has one bedroom and hot-water heat; its month-to-month tenant pays for gas. The second-floor apartment has two bedrooms, all-electric service, and access to a walk-up attic. It is vacant.
Key Highlights
- 2,244‑square‑foot duplex on a 26x70' lot
- Two apartments: one‑bedroom lower unit and two‑bedroom upper unit
- Lower apartment is occupied on a month‑to‑month lease; upper apartment is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,306
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,120
$346.1K
Cap Rate 7%
$247,229
$247.2K
Cap Rate 9%
$192,289
$192.3K
Market Conditions
NOI Build-Up for 2,244 SF
Gross rent
$33.1K $14.76/SF
− Vacancy
−$1.7K −$0.74/SF
EGI
$31.5K $14.02/SF
− OpEx
−$14.2K −$6.31/SF
NOI
$17.3K $7.71/SF
Area
Blair County, PA
Vacancy
5.00%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,120
Cap Rate 7%
$247,229
Cap Rate 9%
$192,289
Alternative Uses
Best Use
Multifamily LT 5
$267.2K
$233.8K – $311.7K
NOI $18,704 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$247.2K
$216.3K – $288.4K
NOI $17,306 @ 7.0% cap · market cap 9.13%
Theoretical Best
Warehouse
$2.73M
$2.38M – $3.18M
NOI $190,790 @ 7.0% cap · market cap 100.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,380
Businesses Nearby
Explore this area
Business Placement
Demographics for 16602, PA
27,996
Population
13,171
Households
2.1
Avg Household Size
44
Median Age
21%
College-Educated
93%
High-School Grad
14.7 sq mi
ZIP Area
1,904
Density / Sq Mi
$53,097
Median Household Income
$37,336
Median Earnings
$842
Median Rent
$120,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The apartments have one- and two-bedroom layouts, with separate heating and utility arrangements.
Where is this duplex located?
The property is located at 720 2nd Ave Altoona, PA.
What is the asking price?
The asking price for this property is $189,500.
What are key features of this property?
This property features: 2,244‑square‑foot duplex on a 26x70' lot; Two apartments: one‑bedroom lower unit and two‑bedroom upper unit; Lower apartment is occupied on a month‑to‑month lease; upper apartment is vacant
