$700,000
318 Spruce Street , Vandergrift, PA 15690
Current Rent **
$6,995
Projected Rent **
$7,910
11-Unit Portfolio | Vandergrift & Leechburg, PA | Cash-Flowing + Value-Add
Description
This portfolio includes 8 properties / 11 units located in Vandergrift & Leechburg, PA (about 45 minutes from Pittsburgh). The properties are professionally managed, cash-flowing, and offer upside through rent increases and lease-up of one vacant unit.
Snapshot:
Gross Rents: $83,940 (current) | $94,320 (stabilized)
NOI: ~$52,400 (current) | ~$61,000 (stabilized)
Cap Rate: 7.5% current | 8.7% stabilized
Occupancy: 91% (10 of 11 units rented)
Mix: 5 single-family homes, 3 duplex properties
Professional Property Management Already in Place (8% fee)
Value-Add Upside:
One vacant property (123 Lafayette) under renovation, est. $800/mo rent
One unit under-market at $735, easy raise to ~$850
Affordable workforce housing market with stable tenant demand
Asking Price: $700,000
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Location:
318 Spruce Street , Vandergrift, PA 15690
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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.
** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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