UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Coming Soon
Purchase Type For Sale
Square Footage 2,745 sqft
Price per Sqft $180
Subdivision Not In Development
MLS Listing ID 759214
Bedrooms 5
Full Baths 4
HOA Y/N No
Year Built 1900
Annual Tax Amount $4,207
Lot Size 6,098 Sqft
Acres 0.14
Property Sub-Type Apartment
Property Description
Fantastic opportunity to own a fully leased 4-unit multifamily property in the heart of Pen Argyl Borough. This well-maintained asset offers a mix of 1- 2- and 3 bedroom units with long-term tenants in place, providing strong and stable cash flow from day one.
Built in 1900, this detached building offers 2,257 square feet of rentable space. All utilities are paid by tenants through RUBS (Ratio Utility Billing System), keeping operating costs low. The property produces a gross annual income of $56,535, with a net income of $42,221 and total expenses of just $14,314, including taxes, insurance, management, and minimal owner-paid utilities.
This property is currently under professional management and the management company is offering an incentive to the future buyer if management is continued. Offering Memorandum available upon request.
Location
State PA
County Northampton
Area Pen Argyl
Direction PA-33 N, take PA-512 N Exit, Right on Park Ave, Left on N Lehigh Ave, straight on W Pennsylvania Ave, building will be on the right.
Interior
Heating Baseboard, Electric
Cooling None
Fireplace No
Exterior
Parking Features No Garage, On Street
Water Access Desc Public
Garage No
Building
Story 2
Sewer Public Sewer
Water Public
Schools
School District Pen Argyl
Others
Senior Community No
Tax ID E8NE1C 4 12 0625
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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Gregory Vassilatos
PA Realtor and Auctioneer | License ID: RSR000564
PA Realtor and Auctioneer License ID: RSR000564