Maiden Bridge & Canongate

JLL is pleased to present Maiden Bridge & Canongate Apartments (the “Property”), a 415-unit mid-rise suburban apartment complex exceptionally located in the South Hills of Pittsburgh. The complex is comprised of two grand buildings; Maiden Bridge, which contains 199 units and Canongate, which contains 216 units. The Property is less than 7 miles from Downtown Pittsburgh, (Pittsburgh’s CBD), and minutes to major highways, situated just off Route 51, making for easy accessibility to the Property from anywhere in the city. Residents can enjoy walking and biking trails and are within a close proximity to shops, restaurants, grocers, and several entertainment opportunities.

Maiden Bridge & Canongate Apartments is beautifully maintained and offers spacious homes in the serene Whitehall neighborhood of the South Hills. The Property offers a vast variety of one, two, and three-bedroom units ranging in size from 634 sf to a very comfortable 1,408 sf. Amenities include a heated outdoor pool, fitness center, putting green, indoor parking garage, and a facility shuttle to nearby retail and entertainment destinations.

The appeal of the Property is reflected in its 96% current occupancy and its historical average occupancy of approximately 95%. From an investment standpoint, the Property offers a superior value-add opportunity. While all the units have been nicely maintained, none have been renovated or updated with modern kitchens and baths, providing enormous upside for an investor. Additionally, all utilities are paid by the landlord, allowing an investor to institute a RUBS program for additional revenue.

The Property is being offered on an all-cash basis. Please contact Nick Matt or Michael Zemaitis for debt inquiries.