Current Use by Public Records
- Apartment buildings
Property Details for 220-234 Chesna Dr
- Year built
- 1992
- Lot size
- 1.28 lot acres
- Property type
- Apartment buildings
Description
This exceptional 8-unit apartment building in Pittsburgh, PA, presents a compelling investment opportunity. The property, situated on a 1.28-acre lot, comprises two buildings, each featuring four townhomes. Built in 1992, the property boasts 15,662 square feet and offers a mix of four 3-bedroom/2-bathroom units and four 2-bedroom/1.5-bathroom units. Each unit includes a two-car garage and private balcony or deck. Recent capital improvements include roof replacement, gutter and downspout upgrades, window replacements, and the remodeling of four units. The property enjoys a strong occupancy rate and consistent cash flow. Additional value-add potential exists through remodeling the remaining four units and increasing rents to market rates, or through subdividing and selling the units individually. Tenants are responsible for all utilities, while the owner handles landscaping and snow removal. The property's excellent South Hills location offers convenient access to Routes 88, 51, and 19, and is within close proximity to Caste Village, Cool Springs Sports Complex, Memorial Hall T-stop, and various shopping and dining options. The asking price is $2,400,000, representing a price per square foot of $153.24 and a 5.95% cap rate with a current NOI of $142,876. The property's Allegheny County location, specifically at 220-234 Chesna Drive, 15234, offers a rare opportunity to own eight adjacent townhomes without HOA fees. The individually metered units and strong income potential make this a truly attractive investment.
Value Estimations
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AI approach
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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
- -80.0137
- Latitude
- 40.3597
