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    604 Versailles Ave McKeesport, PA 15132

    For Sale
    Contact for pricing

    34 Units, Value-Add Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a portfolio of two neighboring multifamily properties located at 604 and 620 Versailles Avenue in McKeesport, Pennsylvania, 15132. The portfolio consists of four buildings totaling 34 units, currently operating at 86% occupancy. 604 Versailles Avenue comprises three duplexes, each recently upgraded with new hot water tanks, furnaces, electrical service, and plumbing within the last five years. 620 Versailles Avenue features a 28-unit building, with four vacant units currently undergoing renovation, including the installation of luxury vinyl tile flooring, updated fixtures, and modern cabinetry. The remaining 24 occupied units at 620 Versailles Avenue have also received recent upgrades mirroring those at 604 Versailles Avenue. The properties boast a current NOI of $131,904, with a pro-forma NOI projected at $237,711, reflecting the significant value-add potential. This portfolio offers investors a chance to capitalize on the thriving McKeesport market, benefiting from its proximity to shopping, dining, and entertainment options. The properties are classified as Class B and are offered for sale as a package deal. The buildings are three stories high and sit on separate parcels. This is a rare opportunity to acquire a substantial multifamily portfolio in a growing Pennsylvania market. The properties are not subject to a ground lease.

    Property Features for 604 Versailles Ave

    General Information

    Property type
    Multifamily properties
    Class
    B

    Building Details

    Buildings
    4
    Stories
    3
    Units
    34

    HighLights

    • Excellent location near amenities and public transit.
    • Recently renovated with modern finishes.
    • Currently 86% occupied.
    • Strong rental income potential for investors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    McKeesport
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.8591486
    Latitude
    40.3469776

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    FAQs

    What type of property is this?
    Multifamily property - 34 Units, Value-Add Opportunity
    Where is this multifamily property located?
    The property is located at 604 Versailles Ave McKeesport, PA.
    What are key features of this property?
    This property features: Excellent location near amenities and public transit.; Recently renovated with modern finishes.; Currently 86% occupied.
    Request Owner's contact information
    604 Versailles Ave McKeesport, PA 15132
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    McKeesport, PA 15132
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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
    604 Versailles Ave McKeesport, PA 15132
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