Considering a Small Multifamily in Pittsburgh – Concerns About Street Parking

[Brian Dolbeare]

I’m considering purchasing a small multifamily property in Pittsburgh that I really like, except for one potential drawback: it has 100% street parking.

In my current market, lack of off-street parking would be a significant negative, especially during winter. I’m still new to the Pittsburgh area, and I’m curious to hear from others more familiar with the market:

• * How much of a drawback is street-only parking for renters in Pittsburgh, especially during snowy winters?
• * Does it significantly affect rental demand, vacancy rates, or rents?
• * Are there creative solutions landlords use to address tenant concerns about parking in this area? (for instance, this property has a backyard that could become parking; however, there is no way to access it unless the neighbors allowed us to use there driveway to get there).
• * Are there any other downsides I might not have considered with street-only parking?

I’d love to hear your insights or experiences managing properties with similar setups in Pittsburgh. Thanks in advance for your help!

[Jamie Dietz]

You may also want to consider the type of tenant you are targeting.  Off street parking is typically more important for high end/expensive rentals. In other working class neighborhoods, off street parking is not as important.