INVESTORS DREAM – FULLY RENTED TRIPLEX IN BRIGHTON HEIGHTS (call 412.425.1013) Don’t go duplex when you can go triplex! Whether you are newly looking to get into the landlord business or an experienced real-estate investor, this three-unit building in Pittsburgh’s up-and-coming Brighton Heights neighborhood is a great opportunity to diversify your portfolio by picking up multiple income-generating apartments at once. The property is situated on a corner lot in close proximity to bus lines, highways, and retail, and consists of three spacious apartments, each with a private deck and separate electric. Originally, all units were 2bd/1ba, but the owner has converted the 3rd floor unit to a luxurious 3bd apartment that now rents for over $1000/month. The 1st and 2nd floor units can easily be converted to be identical to the 3rd floor, creating plenty of room to continue to grow profits by taking advantage of a building with fantastic bones, high ceilings and large windows. The current owner has put over $100k into repairs and improvements in order to address the major issues and add value, which allowed rents to be raised substantially since first purchasing the property, and has created a turnkey opportunity for immediate profitability. Significant improvements and repairs include the following: Exterior - Brand new rubber roof with all new sub-roof (decking) and heat reflective coating - Fully parge-coated and sealed brick on side wall (possible billboard opportunity!) - Re-mortared brick on back wall - Rebuilt basement egresses - New up-sized gutter and downspout to better handle heavy rain Interior - New boiler pump and pressure valve - Dug up and completely replaced old worn cast iron drains/sewer with all new 6” PVC piping - Upgrades to plumbing and electric - Addition of coin-op washer and dryer in basement, which generates additional income - Fully renovated 3rd floor (replaced carpet with new hardwood laminate floors, new doors on all rooms, addition of closet and door to den to convert to 3rd bedroom, new hardware, paint, and fixtures) - Partially renovated 2nd floor (replaced carpet with new hardwood laminate floors, new appliances, paint) - 1st floor has been continuously occupied, but similar improvements can be made quickly and easily to add immediate value The property is and has historically been fully rented. The current tenants are all long-term, and any vacancies have always been filled immediately. Current gross monthly income is $2,675, with the potential to easily reach $3,150 with some minor improvements. Keep it fully rented, or occupy one of the units yourself while renting out the other two – the choice is yours! Call Sarah Andrews at 412.425.1013. We will pay 2.5% to a buyers agent who brings a buyer. Please, seller's agents, we are accepting calls from buyer's agents only.
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