909 Penn Ave - Apartments FOR SALE


Pittsburgh, PA 15222
$4,750,000 USD
724-272-4225
909 Penn Ave, Pittsburgh, PA for Sale
$4,750,000 USD
Apartments - FOR SALE
1/50
null | 7% Cap Rate

909 Penn Ave
Pittsburgh, PA 15222


HIGHLIGHTS

  • Opportunity to Increase Rent - Lando Lofts Rents are $0.30+ per sq ft below comparable's in the Downtown market.
  • Location, Location, Location - It is located on one of the best blocks in Downtown Pittsburgh
  • Conversion Option - Location and Unit Size make this building a candidate for condo conversion now or in the future

OVERVIEW

SVN Three Rivers Commercial Advisors is pleased to present the opportunity to purchase Lando Lofts (909 Penn Avenue, Pittsburgh, PA 15222). Lando Lofts are the premier loft residences in Downtown Pittsburgh’s Cultural District. The apartments have huge windows, open floor plans, and plenty of natural light. The large apartments feature gourmet kitchens with gas ranges, huge quartz-topped islands, and slow close cabinets. The property is comprised of 27 units, 18 one bedroom one-bathroom units, 4 two bedroom one-bathroom units, and 5 two bedroom two bathroom units. The tenants have access to a rooftop deck overlooking the city, a rooftop kitchen, and a small gym. The property is conveniently located close to Heinz Hall, Benedum Center, and numerous restaurants.

FOR SALE DETAILS

PRICE

$4,750,000 USD

PRICE/SF

$136 USD /SF

# OF UNITS

27

PRICE/UNIT

$175,926

CAP RATE

7%

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lando Lofts

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

1895

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,512 SF

ZONING

GT-C

APN/PARCEL ID

0009-N-00158-0000-00

ASK ABOUT THIS PROPERTY

Bryan DonaldsonSVN - Three Rivers Commercial AdvisorsMore Info
724-272-4225

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Bryan DonaldsonSVN - Three Rivers Commercial AdvisorsMore Info
724-272-4225

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.