1202 Wood St, Pittsburgh, PA, 15221

Highlights

• 21 Units - (15) 1BD/1BA & (6) Studios
• Value add via upgrading electric, renovating units, and leasing up vacancies
• Same block as Wood & Hill street bus stop
• $80k seller credit at closing to address electric upgrade

Description

SVN is pleased to present 1202 Wood St for sale in the borough of Wilkinsburg, PA. This 21-unit apartment building consists of (15) 1BD/1BA units and (6) studio apartments. Currently unstabilized, the property has six vacant units, with one rent-ready and five needing minor renovations.

This is a value-add opportunity through leasing up the vacancies and addressing deferred maintenance, particularly upgrading the electrical system (estimated cost: $80,000), with a credit at closing offered by the seller. The electrical improvements are expected to cut insurance costs by half. Due to its current condition, the property has above-average expenses, with tenants paying electric and the landlord responsible for other costs. A live-in superintendent looks after maintenance and upkeep. The building also features a roof replaced in 2014 (under warranty) and a new boiler installed in 2021.

Located in Pittsburgh