1202 Wood St Pittsburgh, PA 15221
- Apartment buildings
- 18,000 SF
- 0.15 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 1202 Wood St
- Lot size
- 0.15 lot acres
- Property size
- 18,000 SF
- Property type
- Apartment buildings
Description
This 21-unit apartment building in Pittsburgh, Pennsylvania, presents a compelling value-add opportunity. Located at 1202 Wood St, this multifamily property boasts 18,000 square feet on a 0.15-acre lot and is currently priced at $775,000 ($43/sq ft and $36,904/unit). The building comprises fifteen one-bedroom, one-bathroom units and six studio apartments. Currently operating at 71.4% occupancy, with six vacant units (one rent-ready, five needing minor renovations), this property offers significant upside potential. A seller credit of $80,000 is available at closing to assist with an electrical system upgrade, projected to halve insurance costs. The building benefits from a 2014 roof (under warranty) and a 2021 boiler installation. Expenses are currently above average due to the building's condition
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pittsburgh
- County
- Allegheny
- State
- Pennsylvania
- Longitude
- -79.8836
- Latitude
- 40.4453
