Six-Unit Apartment
For Sale
Contact for pricing
7710 Waverly Street, Pittsburgh, PA 15221
Built in 1904, this Pittsburgh multifamily property combines historic architectural details with flexible residential layouts.
Property Size4,000 SF
Price / SF$193.75
Days on Market9
Property Features for 7710 Waverly Street
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Retail, Multifamily
Building Details
Year Built
1904
Buildings
1
Units
6
Tenancy
Multi
Listing Agency:
Compass - Pittsburgh
Listed By:
Tirzah DeCaria · License #PA RS324440
Source:
Crexi
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 29 at 10:02PM
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 Compass - Pittsburgh
Investment Insights
Based on property information with market context.
Arden is a 4,000-square-foot apartment building at 7710 Waverly Street in Pittsburgh’s Point Breeze area. Constructed in 1904, the six-unit property was designed by architect Frederick G. Scheibler Jr., whose work incorporated Art Nouveau, Viennese Secession, and Arts and Crafts influences. The building is historic in character but does not carry an official historic designation.
All six apartments offer two bedrooms and one bathroom. Each layout includes a large front living room that may also function as a third bedroom, along with a dining room and kitchen. Architectural details vary throughout the residences, giving the building a distinctive interior character. The property also offers the possibility of pursuing local or national historic recognition, as described in the listing information.
All six apartments offer two bedrooms and one bathroom. Each layout includes a large front living room that may also function as a third bedroom, along with a dining room and kitchen. Architectural details vary throughout the residences, giving the building a distinctive interior character. The property also offers the possibility of pursuing local or national historic recognition, as described in the listing information.
Key Highlights
- Six‑unit apartment building in Pittsburgh’s Point Breeze area
- 4,000‑square‑foot building constructed in 1904
- Designed by architect Frederick G. Scheibler Jr.
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
$40,729
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
5.26%
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%
$814,580
$814.6K
Cap Rate 7%
$581,843
$581.8K
Cap Rate 9%
$452,544
$452.5K
Market Conditions
NOI Build-Up for 4,000 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
$79.2K $19.80/SF
− Vacancy
−$5.1K −$1.29/SF
EGI
$74.1K $18.51/SF
− OpEx
−$33.3K −$8.33/SF
NOI
$40.7K $10.18/SF
Area
ZIP 15221
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$814,580
Cap Rate 7%
$581,843
Cap Rate 9%
$452,544
Alternative Uses
Best Use
Apartment 5plus
$581.8K
$509.1K – $678.8K
NOI $40,729 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$891.5K – $1.19M
NOI $71,320 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,116
Businesses Nearby
Explore this area
Business Placement
Demographics for 15221, PA
28,913
Population
17,621
Households
1.6
Avg Household Size
42
Median Age
42%
College-Educated
95%
High-School Grad
6.2 sq mi
ZIP Area
4,663
Density / Sq Mi
$55,241
Median Household Income
$42,411
Median Earnings
$954
Median Rent
$157,100
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 - Built in 1904, this Pittsburgh multifamily property combines historic architectural details with flexible residential layouts.
Where is this apartment building located?
The property is located at 7710 Waverly Street Pittsburgh, PA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Six‑unit apartment building in Pittsburgh’s Point Breeze area; 4,000‑square‑foot building constructed in 1904; Designed by architect Frederick G. Scheibler Jr.
