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    1021 Carson St Pittsburgh, PA 15203

    For Sale
    $600,000

    Prime Pittsburgh location, 3 units, high NOI.

    Property size:
    5,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a three-unit apartment building situated at 1021 E Carson St in Pittsburgh's vibrant South Side Flats neighborhood. The property, built in 1950 and extensively renovated in 2022, boasts a total of 5,000 square feet on a 1,506 square foot lot. The building features three units: two residential apartments, each with four bedrooms and two bathrooms, and one commercial space currently operating as a restaurant. All units are currently 100% occupied, generating a strong net operating income (NOI) of $51,340, representing an 8.56% cap rate on the $600,000 asking price. The property is zoned C, offering flexibility for various commercial uses. Its prime location in a high-traffic area with abundant foot traffic ensures consistent visibility and rental income. The building benefits from updated infrastructure, minimizing maintenance costs. Proximity to major attractions, public transportation, and highways adds to its appeal. The land value alone is $128 per square foot, further highlighting the investment potential. This property offers a compelling combination of stable income, modern amenities, and a desirable location in a thriving Pittsburgh neighborhood. The asking price is $600,000, or $200,000 per unit, and the price per square foot is $120. The Allegheny County APN is 0003-G-00134-0000-00.

    Property Features for 1021 Carson St

    General Information

    Property type
    Multifamily properties
    Square Feet
    5,000 SF

    Building Details

    Year Built/Renovated
    1950/2022
    Stories
    3
    Units
    3

    HighLights

    • 2022 renovation with modern finishes.
    • Three‑unit building offering diverse income streams.
    • C‑zoned for versatile commercial use.
    • Prime Pittsburgh location with high visibility.
    • 100% occupancy, generating immediate cash flow.
    • High foot traffic, ideal for retail.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Pittsburgh Hammers Stduim Basketball Court

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.987498091607
    Latitude
    40.428718669658

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    FAQs

    What type of property is this?
    Multifamily property - Prime Pittsburgh location, 3 units, high NOI.
    Where is this multifamily property located?
    The property is located at 1021 Carson St Pittsburgh, PA.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: 2022 renovation with modern finishes.; Three-unit building offering diverse income streams.; C-zoned for versatile commercial use.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1021 Carson St Pittsburgh, PA 15203
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