Active

$325,000

215-217 Brownsville Road, Mt Oliver, PA 15210

Type

Other

County

Allegheny-South

Lot

0.17 acres

MLS #

1778062

About this home

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.

Courtesy of NULF REAL ESTATE