110 114 West Ridge Street Active Save Request In-Person Tour Request Virtual Tour
Lansford Borough,PA 18232
Key Details
Property Type Condo, Commercial
Sub Type Apartment Style,Complex
Listing Status Active
Purchase Type For Sale
Square Footage 9,500 sqft
Price per Sqft $105
Subdivision No Subdivision
MLS Listing ID 745068
Bedrooms 12
Full Baths 9
Half Baths 1
Year Built 1970
Annual Tax Amount $8,528
Lot Size 3,100 Sqft
Property Description
$123K Gross, $105K Net, 10.5% CAP, 20% Cash On Cash @ asking. The owners proudly invested over $300K+ to completely rehab & update this cash-flowing, turnkey 9-unit multi-family portfolio, including 110, 112, & 114 W Ridge. These properties have mountain views, stunning curb appeal, a brand-new facade, & a new roof. It’s located next to a brand-new St. Luke's Hospital & many other Main Street businesses. Renovations include mostly new bathrooms, flooring, kitchens, appliances, paint, refinished & new cabinets, & some granite countertops in the kitchens. The property is sold with a clear Certificate of Occupancy & new rental permits issued by the city. Other upgrades include a refinished rear deck & balconies, 25+ new windows, new electrical work, & new water heaters. There are six large 1BR/1BA units, one large 2BR/1BA unit with a deck in the rear, & one enormous, 2-story 4BR/2BA unit with a deck in the rear, plus a veteran-run, long-standing barbershop. All tenants are brand new, clean, & friendly & have 1-year leases. The property is minutes from highways & shopping & is near a police station & a church. Note: The owners love this property but live 1.5hrs away, & due to the distance, they are selling to a lucky buyer. The ownership group lists over 15 multi-family units in addition to this property. Gross projections are $140K+ with 18.8% cash on cash. The owner can fill units or will pay for 1 Month's rent if the unit is vacant at the time of sale. One seller is RE agent.
Location
State PA
County Carbon
Area Lansford
Interior
Cooling Wall AC
Exterior
Garage Spaces 2.0
Building
Story 3.0
Sewer Public
Water Public
New Construction No
Schools
School District Panther Valley
Others
Financing Cash,Conventional
Special Listing Condition Not Applicable