5801 Ellsworth Ave, Shadyside, PA 15232
sale
$2,365,000
|
Apartment
Courtesy Of Coldwell Banker Real Estate Services
Rare opportunity to acquire a fully occupied mixed-use investment property in one of Pittsburgh's most desirable and dynamic locations. 5801 Ellsworth Avenue sits in the heart of Shadyside, surrounded by some of the region's strongest residential, institutional, technology and employment drivers. The property is positioned near Shadyside's primary business districts along Ellsworth Avenue, Walnut Street and South Highland Avenue, with convenient access to Bakery Square, East Liberty, Oakland, Carnegie Mellon University, the University of Pittsburgh and major UPMC facilities. Real estate offered for sale only; the existing bar/restaurant business is not included and is a long term highly successful tenant of the building. The surrounding area continues to benefit from significant investment and development, supported by the continued growth of Bakery Square and the concentration of education, healthcare, technology, AI and research activity throughout nearby Oakland. This prime location supports consistently strong demand for housing, with the property historically experiencing minimal vacancy and apartments typically renting quickly when available. The building includes 10 residential apartments consisting of three one-bedroom units and seven studios. Seven apartments have been fully renovated, one is partially renovated and two remain unrenovated, providing additional opportunity for future improvements and rental growth. The residential units feature individually controlled hot-water heat and either window or through-wall air conditioning. Anchoring the property is a large commercial bar and restaurant space occupied by a highly successful establishment that has operated at this location for more than 20 years. A long-term lease is in place, providing stability to the commercial component of the property. The expansive commercial space features three separate bars, a rooftop deck and multiple independently zoned heating and cooling systems maintained by the commercial tenant. Additional property features include a one-car integral garage at the rear of the building, a separate workshop and three large storage rooms, providing valuable functional and storage space rarely found in comparable urban mixed-use properties. Fully occupied and producing substantial annual lease revenue, 5801 Ellsworth Avenue combines established cash flow, a long-term commercial tenancy, strong residential rental demand and future upside in a prime Shadyside location surrounded by some of Pittsburgh's most important employment, educational and economic growth centers.
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Property Features
- Exterior Type: Brick
- MLSID: 1777010
- Parking Spaces: 2
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