105 2nd Street
Property Description
Fully occupied 7-unit apartment building currently generating $123,660 in annual gross income and $93,882 in annual net income. The property features a strong unit mix of four 3-bedroom apartments, one 2-bedroom apartment, and two 1-bedroom apartments, offering spacious layouts that support consistent rental demand. The seller has invested over $200,000 in capital improvements since purchase, including major upgrades to the building's plumbing, electrical, roofing, and interiors. In 2022, cast-iron sewer lines were replaced with PVC, and most water lines were upgraded to PEX. The property was also converted to all-electric service, with seven new electric hot water heaters installed. Additional improvements include updates to the roof, siding, and interior renovations to several apartments with newer appliances added. The property also features a second-floor laundry room with a new coin-operated washer and dryer, providing additional income beyond apartment rents. Operating expenses are low for a building of this size. Tenants pay their own electric and heat, while landlord expenses are limited to taxes, insurance, water, and sewer. This helps keep operating costs manageable and supports strong cash flow. Located in Slatington, Lehigh County, the property offers a great balance of small-town living and easy access to the Lehigh Valley. Tenants enjoy nearby outdoor attractions, including the Lehigh River, Lehigh Gap, and D&L Trail, while Route 145 provides convenient access to major employers, hospitals, shopping, and other amenities throughout the region. With full occupancy, over $200,000 in major improvements, spacious units, additional laundry income, and low operating expenses, this property is an excellent opportunity for investors looking for strong cash flow, reduced near-term capital needs, and long-term investment potential in the Lehigh Valley.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,040,000 |
| No. of Units: | 7 |
| Year Built: | 1884 |
| Lot Size: | 5,893.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $148,571 |
| Property Website | Click Here |
| Number of Bedrooms: | 16 |
| Number of Bathrooms: | 7 |
ID: 3yd-LVARPA-786694
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