1619 Broadway AvePittsburgh, PA 15216

Property Details for 1619 Broadway Ave

Lot size

0.07 AC

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

35-G-16

APU

35G16

Description

This exceptional investment opportunity presents a portfolio of 49 buildings encompassing 144 units in the Greater Pittsburgh area. The diverse portfolio includes single-family homes, multifamily apartments, and mixed-use properties, strategically located across multiple neighborhoods. Currently boasting an 83% occupancy rate (119 occupied units), this portfolio offers immediate cash flow. The unit mix ranges from studio apartments to four-bedroom, two-bathroom homes, and also includes commercial spaces. Many units have undergone recent renovations, enhancing their appeal to tenants. Properties within the Beechview neighborhood offer convenient access to Downtown Pittsburgh (less than four miles away) via public transportation. Those in Kittanning and Ford City, while situated in a more rural setting, benefit from central locations within their respective boroughs and proximity (under 10 minutes) to retail areas. This portfolio represents a unique opportunity to acquire a substantial and diversified real estate holding in a growing market. The portfolio's location in established neighborhoods and its mix of property types provide a strong foundation for long-term growth and profitability. The current occupancy rate demonstrates the inherent demand and potential for further revenue generation. This is a rare chance to acquire a significant multifamily portfolio in Western Pennsylvania.

• CAP approach

  CAP return

  Valuation

  6%

  $707,459

  6.5%

  $653,039

  7%

  $606,393

• Comparable approach

  Method

  Valuation

  Relative Method

  $434,961

  Geo Method

  $434,961

• Alternative Use

  Use

  Valuation

  Residential

  $653,039

  Hospitality

  $598,180

  Educational

  $497,679

  Medical

  $514,795

  Retail

  $774,167

Location Insight

City

Pittsburgh

County

Allegheny

State

Pennsylvania

Latitude

40.4099

Longitude

-80.0243

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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