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215 Lelia St 43 Unité Immeuble d’appartements 1 682 176 $ CAD (39 120 $ CAD/Unité) 23,74% Taux de capitalisation Pittsburgh, PA 15211
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Faits saillants de l'investissement
- 42 studio units, each with private bathroom and kitchenette
- Eligible for 9% LIHTC, Section 8 PBV, HOME, PHFA, and URA gap financing
- Elevator-served with ADA ramp and ground floor communal amenities
- Below-market basis at $28,570 per unit vs. $300K-$500K+ new construction TDC in Pittsburgh
- FY2026 HUD SAFMR ZIP 15211: $1,190/mo studio, supporting $599,760 stabilized gross income
- Two Certificates of Occupancy on file confirming R2 use, 43 units
Résumé de l'annonce
215 Lelia Street is a 43-unit value-add multifamily building in Pittsburgh's 19th Ward, situated on the border of the Mt. Washington and Knoxville neighborhoods. The property consists of 42 studio units, each with a private bathroom and kitchenette, located on the 2nd and 3rd floors, plus a one 2-bedroom unit that is on the 2nd floor. Total rentable square footage is 13,042 across a 3-story brick building constructed in 1928 and converted to residential use in 1988. The building is elevator-served with 14 dedicated surface parking spaces and an additional parking easement on the adjacent parcel.
The ground floor features a lobby, commercial kitchen and cafeteria, two multipurpose rooms, dedicated office spaces, laundry room, and storage. This infrastructure is well-suited for affordable housing programming or senior living services without significant reconfiguration.
The property has been vacant since 2020 and requires full rehabilitation including mold remediation on a portion of the building. No renovations have been performed. Full architectural demolition and renovation plans dated February 2024 are available to qualified buyers. Two Certificates of Occupancy are on file, the most recent issued in 2007, confirming R2 use for 43 units of elderly and disabled housing.
At $1,199,900, the acquisition basis is $28,570 per unit. The property is eligible for 9% and 4% LIHTC, HUD Section 8 Project-Based Vouchers, HOME funds, PHFA programs, and URA gap financing. FY2026 HUD Small Area Fair Market Rent for ZIP 15211 is $1,190 per month for studio units, supporting a stabilized gross potential income of $599,760 annually on 42 units. Proforma NOI at a 50% expense ratio is $284,886, representing a 23.7% cap rate on asking price.
New ground-up affordable housing construction in Pittsburgh currently carries a total development cost of $300,000 to $500,000 per unit. This acquisition offers a meaningful basis advantage for a buyer capable of executing the rehabilitation.
All due diligence, environmental assessments, and contractor bids are the responsibility of the buyer. Property is sold as-is.
The ground floor features a lobby, commercial kitchen and cafeteria, two multipurpose rooms, dedicated office spaces, laundry room, and storage. This infrastructure is well-suited for affordable housing programming or senior living services without significant reconfiguration.
The property has been vacant since 2020 and requires full rehabilitation including mold remediation on a portion of the building. No renovations have been performed. Full architectural demolition and renovation plans dated February 2024 are available to qualified buyers. Two Certificates of Occupancy are on file, the most recent issued in 2007, confirming R2 use for 43 units of elderly and disabled housing.
At $1,199,900, the acquisition basis is $28,570 per unit. The property is eligible for 9% and 4% LIHTC, HUD Section 8 Project-Based Vouchers, HOME funds, PHFA programs, and URA gap financing. FY2026 HUD Small Area Fair Market Rent for ZIP 15211 is $1,190 per month for studio units, supporting a stabilized gross potential income of $599,760 annually on 42 units. Proforma NOI at a 50% expense ratio is $284,886, representing a 23.7% cap rate on asking price.
New ground-up affordable housing construction in Pittsburgh currently carries a total development cost of $300,000 to $500,000 per unit. This acquisition offers a meaningful basis advantage for a buyer capable of executing the rehabilitation.
All due diligence, environmental assessments, and contractor bids are the responsibility of the buyer. Property is sold as-is.
Salle de données Cliquez ici pour accéder à
Bilan financier (Pro forma - 2026) Cliquez ici pour accéder à |
Annuel (CAD) | Annuel par pi² (CAD) |
|---|---|---|
| Revenu de location brut |
$99,999
|
$9.99
|
| Autres revenus |
$99,999
|
$9.99
|
| Perte due à l’inoccupation |
$99,999
|
$9.99
|
| Revenu brut effectif |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Dépenses d’exploitation |
$99,999
|
$9.99
|
| Total des dépenses |
$99,999
|
$9.99
|
| Revenu net d’exploitation |
$99,999
|
$9.99
|
Bilan financier (Pro forma - 2026) Cliquez ici pour accéder à
| Revenu de location brut (CAD) | |
|---|---|
| Annuel | $99,999 |
| Annuel par pi² | $9.99 |
| Autres revenus (CAD) | |
|---|---|
| Annuel | $99,999 |
| Annuel par pi² | $9.99 |
| Perte due à l’inoccupation (CAD) | |
|---|---|
| Annuel | $99,999 |
| Annuel par pi² | $9.99 |
| Revenu brut effectif (CAD) | |
|---|---|
| Annuel | $99,999 |
| Annuel par pi² | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annuel | $99,999 |
| Annuel par pi² | $9.99 |
| Dépenses d’exploitation (CAD) | |
|---|---|
| Annuel | $99,999 |
| Annuel par pi² | $9.99 |
| Total des dépenses (CAD) | |
|---|---|
| Annuel | $99,999 |
| Annuel par pi² | $9.99 |
| Revenu net d’exploitation (CAD) | |
|---|---|
| Annuel | $99,999 |
| Annuel par pi² | $9.99 |
Faits sur la propriété
Commodités
Commodités des unités
- Chauffage
- Cuisine
- Bain/Douche
- Patio
- Accessible aux fauteuils roulants (chambres)
Commodités du site
- Installations de lessive
- Accessible aux fauteuils roulants
- Édifice d'époque
- Espace d'entreposage
- Ascenseur
- Accessible aux malentendants
- Lounge
- Salle multi-usages
- Transport en commun
- Salle de bain privée
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| Studios | 42 | - | - |
| 2+1 | 1 | - | - |
1 1
Assez accessible à pied
50/100
Moyennement adapté aux voitures
60/100
Bons transports en commun
70/100
Plutôt accessible en vélo
50/100
Impôts fonciers
| Numéro de lot | 0015-B-00208-0000-00 | Évaluation totale | 713 121 $ CAD |
| Évaluation du terrain | 220 450 $ CAD | Impôts annuels | (1 $) CAD (0,00 $ CAD/pi²) |
| Évaluation des bâtiments | 492 671 $ CAD | Année d’imposition | 2026 |
Impôts fonciers
Numéro de lot
0015-B-00208-0000-00
Évaluation du terrain
220 450 $ CAD
Évaluation des bâtiments
492 671 $ CAD
Évaluation totale
713 121 $ CAD
Impôts annuels
(1 $) CAD (0,00 $ CAD/pi²)
Année d’imposition
2026
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215 Lelia St
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