11,586 SqFt
11,586 SqFt
Key Details
Property Type Commercial
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 11,586 sqft
Price per Sqft $138
MLS Listing ID 777569
HOA Y/N No
Year Built 1900
Annual Tax Amount $8,600
Lot Size 6,969 Sqft
Acres 0.16
Lot Dimensions 0.16 Acres
Property Sub-Type Apartment
Property Description
Exceptional opportunity to own a well-maintained multifamily property in the heart of Pen Argyl's desirable Slate Belt region. This strong income-producing asset generates a gross annual income of $172,620 with a net operating income of $145,509 and an impressive 8% cap rate, offering excellent long-term cash flow potential and investment stability.
The property features eight spacious 2-bedroom, 1-bath apartments with strong rental demand. Several units offer hardwood flooring in the living rooms and bedrooms, adding warmth and character throughout, while many units have been completely remodeled with updated finishes that enhance tenant appeal.
Recent capital improvements include a new heating system, new sump pump, and new hot water heater, helping minimize future maintenance costs and providing peace of mind for investors. Owner currently pays heat and hot water, offering added value for residents.
Additional income opportunities come from the property's 6 garages and 10 storage units, providing added convenience for tenants and increased revenue potential. A large basement storage area further enhances the property's functionality and appeal.
Conveniently located near shopping, schools, and major commuter routes, this turnkey multifamily investment is ideal for both seasoned investors and those looking to expand into the apartment market. Don't miss this outstanding opportunity to own a solid, cash-flowing asset with upside potential in a growing rental market.
Location
State PA
County Northampton
Area Pen Argyl
Direction Rt 512 North to Pen Argyl. Right on C street to Main
Interior
Heating Gas
Cooling Wall/Window Unit(s)
Inclusions Real Estate Only
Fireplace No
Exterior
Parking Features Detached, Garage, Off Street
Water Access Desc Public
Street Surface Other
Road Frontage City Street
Garage Yes
Building
Sewer Public Sewer
Water Public
Schools
School District Pen Argyl
Others
Tax ID E8NE3A 2 4 0625
Special Listing Condition None
Nearby Locations
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
heather.m@morganelliproperties.com
1124 Linden Street, Bethlehem, Pennsylvania 18018, USA