$501,000
$501,000
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1,248 SqFt
SOLD DATE : 05/09/2024
Key Details
Sold Price $501,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 1,248 sqft
Price per Sqft $401
MLS Listing ID PANH2005182
Sold Date 05/09/24
Originating Board BRIGHT
Year Built 1928
Annual Tax Amount $4,576
Tax Year 2022
Lot Size 5,500 Sqft
Acres 0.13
Lot Dimensions 0.00 x 0.00
Property Description
$62,400 Gross Income, $48,520 Net Income, 10% Cap. These prideful owners have invested over $125K to renovate and rebrand this fully occupied, cash-flowing, 3-unit investment property including a full renovation of all residential and commercial units plus a newly paved $25K parking lot. Each unit was modernized from top to bottom with fresh paint, new HW flooring, energy-efficient windows, newly tiled bathrooms, and all-new kitchens with GRANITE countertops, new appliances, & each tenant has their own washer/dryer. The basement was separated to allow for tenant storage. The 3BR unit is very large and has a lot of sunlight. The 2BR is spacious and has oversized Bedrooms. The commercial unit has brand-new temp-controlled split units. There is a total of 10 paved parking spaces for tenants and commercial. Long-standing commercial tenant has a 5-year lease and is in year 2 with the option to renew. Brand new sidewalks along the exterior. Electric and heat are all separately metered and paid by the tenants. The ownership group is listing over 25 multi-family units available in addition to this property. *Seller is a licensed real estate agent. *** PROJECTIONS with slightly higher rents come in at above $66,000 Gross.*** The 3-bedroom unit is on a month-to-month lease and market rent can be $2000 easily. The commercial unit is used by a great appliance team. They use it more as a supply then a showroom, but it was made to have showroom and offices with bathroom and new AC/ Heating
Location
State PA
County Northampton
Area Freemansburg Boro (12412)
Zoning GC
Interior
Hot Water Electric
Heating Baseboard - Electric, Zoned, Baseboard - Hot Water
Cooling Central A/C, Multi Units
Heat Source Electric, Oil
Exterior
Garage Spaces 8.0
Waterfront N
Water Access N
Accessibility 2+ Access Exits
Parking Type Driveway, Parking Lot
Total Parking Spaces 8
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Bethlehem Area
Others
Tax ID N7SW4C-1-1-0212
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with james J Reardon • eXp Commercial
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "