Under Contract — Assignment Available 100% Occupied
605 Clay Avenue · Jeannette, PA 15644
Turnkey, fully renovated mixed-use — 3 income units · Westmoreland County · APN 14-01-16-0-034 · Deal Ref CLAY605
💼 Deal Summary — The Investor Math
| Key Numbers (at asking price) |
|---|
Underwritten view applies a 5% vacancy allowance + 8% off-site management even though the building is 100% occupied and currently self-managed — the deal still clears double-digit returns with both handicaps on.
| Market Comp — Same Street | |
|---|---|
| 207 Clay Avenue (commercial) — sold Oct 2025, all cash | $499,000 |
| Subject asking price | $329,000 |
| Discount to the street's latest commercial sale | 34% below |
Sale per county records (via PropertyRadar). Unrenovated properties on the same street have traded far lower — the $499K print reflects the renovated/tenanted premium this building shares. Buyer to verify.
| Cash Flow | Monthly | Annual |
|---|
🏢 Rent Roll — In Place
| Unit | Type | Approx SF | Rent / Mo | Lease |
|---|---|---|---|---|
| 1st Floor — Commercial Office | Office (real-estate brokerage tenant) | ~1,850 | $1,500 | 3-year lease, 2 years in |
| 2nd Floor — Front Unit | Residential 2BR / 1BA | ~800 | $1,350 | Annual lease |
| 2nd Floor — Back Unit | Residential 2BR / 1BA | ~1,200 | $1,400 | Annual lease |
| Total | 3 units · ~4,000 SF | $4,250 | $51,000 / yr |
No month-to-month tenants. Office rate ≈ $9.7/SF/yr on renovated space — below-market with room to grow at renewal.
🧾 Income & Expenses (Owner Actuals)
| Line Item | Monthly | Annual |
|---|---|---|
| Gross scheduled rent | $4,250 | $51,000 |
| Property taxes | ($200) | ($2,400) |
| Insurance | ($483) | ($5,800) |
| Utilities — paid by tenants (individually metered) + sewer/water/trash reimbursed | $0 | $0 |
| Net Operating Income | $3,567 | $42,800 |
✨ Why This Deal
- Fully renovated top to bottom — nothing left to do
- Carrara marble kitchens & baths, Bruce hardwood, Juliet balconies
- Tuck-pointed masonry; roof / electrical / plumbing all done
- 3 gas meters + 4 electric meters — every unit separately metered
- Tenants pay all utilities; sewer / water / trash reimbursed
- 20-slot (10-car tandem) private off-street parking — nearly impossible to find downtown
- Anchored by a commercial office tenant on a 3-year lease
- Seller's 2024 acquisition basis: $346,000 — buy below basis, post-renovation
- Same-street comp: 207 Clay Ave sold $499,000 cash (Oct 2025) — subject asks 34% below
📸 Photo Gallery
Full photo package, walkthrough video, and the seller's P&L / loan package available on request.
📍 Location
605 Clay Avenue, Jeannette, PA 15644 — Westmoreland County, ~30 minutes east of Pittsburgh. Established downtown block with off-street parking. Open in Google Maps →
📄 Documents — On Request
Rent roll · leases · P&L · title work · photos package. Text or email with the deal ref CLAY605 and we'll send the file room same-day.