1021 Carson St Pittsburgh, PA 15203

Property Details for 1021 Carson St

Lot size

0.03 lot acres

Property type

Retail residential properties

APN

3-G-134

APU

3G134

Description

This exceptional investment opportunity presents a three-unit apartment building situated at 1021 E Carson St in Pittsburgh's vibrant South Side Flats neighborhood. The property, built in 1950 and extensively renovated in 2022, boasts a total of 5,000 square feet on a 1,506 square foot lot. The building features three units: two residential apartments, each with four bedrooms and two bathrooms, and one commercial space currently operating as a restaurant. All units are currently 100% occupied, generating a strong net operating income (NOI) of $51,340, representing an 8.56% cap rate on the $600,000 asking price. The property is zoned C, offering flexibility for various commercial uses. Its prime location in a high-traffic area with abundant foot traffic ensures consistent visibility and rental income. The building benefits from updated infrastructure, minimizing maintenance costs. Proximity to major attractions, public transportation, and highways adds to its appeal. The land value alone is $128 per square foot, further highlighting the investment potential. This property offers a compelling combination of stable income, modern amenities, and a desirable location in a thriving Pittsburgh neighborhood. The asking price is $600,000, or $200,000 per unit, and the price per square foot is $120. The Allegheny County APN is 0003-G-00134-0000-00.