Triplex available in Butler, PA. Rehab was started on this property and needs finished. Some of the work already completed includes new windows, mostly sided and re-designed dormers which really add some impressive qualities to some of the rooms and apartments and should help fetch top rental dollars for those units when remodeled. The utilities have also been separated out. This is a big triplex and there is alot of room for creativity and imagination in the design or it could be kept simple. It could easily have separate laundry facilities in the basement or coin operated laundry for extra income.
There are two 2-bedroom apartments and one 3-bedroom apartment.
Current rents we are receiving in Butler are $775 + utilities for 3 bedrooms (non-HUD) and $650-$705 + utilities for 2 bedrooms (non-HUD). This has potential to be on the higher end of rents and could fetch even more.
Comps These are all triplexes:
401 Ridge Ave., Butler, PA 1 unit in basement, first floor and second floor. Sold as-is needed work. -Sold for $18,000 on 9/17/2010
506 Eau Claire St., Butler, PA 3 - 1br/1ba - Rent not specified -Sold for $78,000 on 1/7/2010
420 E. Jefferson St., Butler, PA 2 - 2br/1ba - $250 rent 1 - 1br/1ba - $250 rent -Sold for $42,500 on 7/23/2009
108-112 Pillow Street, Butler, PA 1 - 2br/1ba - $400 rent 2 - 1br/1ba - $400 rent each -Sold for $68,250 on 7/17/2009
811 and 813 W New Castle St., Butler, PA 2 - 2br/1ba - $450 rent 1 - 1br/1ba - $300 rent -Sold for $54,000 on 6/26/2009