456 Temperance Way California, PA 15419

Property Details for 456 Temperance Way

Year built

2012

Property type

Dormitories

Property subtype

Student housing

Description

This exceptional investment opportunity presents a portfolio of twenty student apartments situated in California, Pennsylvania, just steps from the campus. The property comprises two well-maintained, three-story buildings constructed in 2012 and featuring a mix of unit sizes: four four-bedroom, two-bathroom units and sixteen two-bedroom, one-bathroom units. All units are equipped with modern kitchen appliances, in-unit laundry, and durable vinyl/laminate flooring, catering to both students and other tenants. Recent improvements include new roofs installed in 2023, ensuring long-term value and reduced maintenance costs. The property boasts a strong pro-forma NOI of $211,616 and a compelling 9% pro-forma cap rate, making it an attractive investment for discerning buyers. Its prime location offers easy access to major roadways (Rt 43 & Rt 70), connecting residents to nearby towns like Brownsville, Washington, Uniontown, Pittsburgh, and Morgantown. The convenient proximity to restaurants, shopping, and Mon River Park/Boat Ramp further enhances its appeal. This portfolio offers a rare combination of quality, desirable amenities, and a high-demand location, making it an ideal investment for those seeking strong returns and long-term growth potential. The asking price is $2,350,000, or $117,500 per unit. This offering includes both 456 2nd St and 406 Temperance Way.

Location Insight

City

California

County

Washington

State

Pennsylvania

Longitude

-79.8885

Latitude

40.0679