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    31 Wyoming St Pittsburgh, PA 15211

    For Sale
    $1,500,000

    15 Units, Prime Pittsburgh Location, High ROI

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional multifamily investment opportunity presents 15 units spread across six buildings in Pittsburgh's desirable Mount Washington neighborhood. The property boasts stunning panoramic city views and comprises one single-family home, two duplexes, two three-unit buildings, and one four-unit building requiring renovation, offering significant value-add potential. Currently generating a strong NOI of $122,585, representing an 8.17% cap rate, the pro-forma NOI projects to $183,415, a 12.23% cap rate, reflecting the upside potential from the planned renovations and market rent increases. The asking price is $1,500,000, or $100,000 per unit. Units feature desirable amenities including in-unit laundry, dishwashers, and air conditioning, with most kitchens recently updated. The property benefits from tenants paying the majority of utilities. Located on Wyoming Street, near Shiloh Street's vibrant restaurant and nightlife scene, this property is situated in one of Pittsburgh's most sought-after rental markets, ensuring strong occupancy and rental income. This is a rare chance to acquire a well-located, value-add multifamily property with substantial upside in a thriving Pittsburgh neighborhood. The property is classified as Class C.

    Property Features for 31 Wyoming St

    General Information

    Property type
    Multifamily properties
    Class
    C

    Building Details

    Buildings
    6
    Units
    15

    HighLights

    • Strong in‑place rents with upside potential.
    • Mostly updated units in excellent condition.
    • Exceptional location offering stunning Pittsburgh skyline views.
    • Tenants responsible for most utilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -80.0062838
    Latitude
    40.4300941

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    FAQs

    What type of property is this?
    Multifamily property - 15 Units, Prime Pittsburgh Location, High ROI
    Where is this multifamily property located?
    The property is located at 31 Wyoming St Pittsburgh, PA.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Strong in-place rents with upside potential.; Mostly updated units in excellent condition.; Exceptional location offering stunning Pittsburgh skyline views.
    Request Owner's contact information
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    Pittsburgh, PA 15211
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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
    31 Wyoming St Pittsburgh, PA 15211
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