102-112 Herman Ave, Duquesne, PA 15110

Property Details for 102-112 Herman Ave

Year built

1947

Property type

Residential income homes

Description

This exceptional investment opportunity presents a seven-unit multifamily portfolio located at 102-112 Herman Ave, Duquesne, PA 15110. The property consists of a 6,780 square foot, two-story building constructed between 1947 and 1950, currently zoned residential. The portfolio includes seven single-family rental units, each featuring two bedrooms and one bathroom, along with a private garage. Currently, four units are occupied, generating a net operating income (NOI) of $12,783, representing a 3.65% cap rate. The 57% occupancy rate provides immediate cash flow, while the remaining three units offer significant value-add potential. Two units are ready for updates and repairs, and one is completely gutted, allowing for a complete renovation. The pro-forma NOI is projected at $44,703, resulting in a 9.31% pro-forma cap rate. This translates to a price per unit of $50,000 and a price per square foot of $51.62. The property's location in the quiet, historic community of Duquesne, Allegheny County, offers proximity to amenities and transportation, minimizing vacancy risk and maximizing rental income potential. This portfolio is an ideal investment for those seeking a blend of immediate cash flow and substantial long-term growth. The asking price for this value-add opportunity is $350,000.

Location Insight

City

Duquesne

County

Allegheny

State

Pennsylvania

Longitude

-79.8611

Latitude

40.3836