Opportunity to own two adjacent mixed-use buildings on Brownsville Rd, including 6 residential units and 2 street-level commercial storefronts. This 8-unit property requires an initial capital investment to address outstanding code violations, and other deferred maintenance in order to pass occupancy. Best suited for an investor looking for a value-add opportunity to force equity while increasing cash flow through monthly rent. The property is operating at a net loss largely due to vacancy, under-rented units, and owner-paid utilities. 5/8 units are occupied, however only receiving rent from 2/5 tenants due to prior “handshake deals” made by the owner. All tenants are on month-to-month leases, giving the new buyer the option to either enforce the lease terms with the current tenants or terminate the lease. Two (2) COM, three (3) 1bd/1ba, two (2) 2bd/1ba, one (1) 3 bd/1ba. 3/1 Rent: $919/month and 2/1 Rent: $595. The path to positive cash flow: bringing rents to market rate and making tenants responsible for all utilities. Estimated market rent: 1/1 - $950, 2/1 - $1200, 3/1 - $1450, COM - $13/sq/yr. Located on Brownsville Road (PA Route 88) with direct access to public transit and convenient to the Rt. 51 corridor and Pittsburgh's South Hills.
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Mt Oliver is located in Pennsylvania. Mt Oliver, Pennsylvania has a population of 151,603.
The median household income in Mt Oliver, Pennsylvania is $54,306. The median household income for the surrounding county is $66,659 compared to the national median of $69,021. The median age of people living in Mt Oliver is 33.7 years.
The average high temperature in July is 83.5 degrees, with an average low temperature in January of 21 degrees. The average rainfall is approximately 38.3 inches per year, with 27.7 inches of snow per year.
