Kenmawr Apartments

Posted: 8/8/2007
SOLD
245 Units
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About

About Kenmawr Apartments

- Attractive Loan Assumption ($17.6M at 5.51%) - 7.8% CAP rate on in place rent roll and expenses - Over 11% cash flow in year one - Significant CapEx spent by owners in recent years - 99% occupancy in one of the tightest apartment markets in the country - Affluent Shadyside neighborhood - 209 Residential and 36 Commercial Units - 75% 2 and 3 bedroom units - Renovation program yielding $200 / month - All renovated units have been leased - Convenient Public Transportation via the dedicated "Busway " - Strong international graduate student population attending Carnegie Mellon, University of Pittsburgh ("Pitt"), and medical schools. Bids due October 9. . Check Out the Shadyside Neighborhood