1563 Old Route 22
Property Description
UNIQUE INVESTMENT OPPORTUNITY in this FULLY OCCUPIED 21 unit property situated on just shy of 10 acres consisting of two parcels and a short 20 minute commute to the Lehigh Valley. This property consists of 2-3BR units, 2-2BR units, 12-1BR/ efficiency units, 3 storage spaces, a workshop with garage, and a commercial garage. Plenty of value add and upside potential with rent increases and the potential to add more units. Check with zoning and the local municipality regarding options. All units are fully occupied with 1 year leases/security deposits in place. Owners pay W/S/T and common electric. All utilities are separate and tenants pay heat(electric), electric, and cable. New roofs and windows were recently installed on all the main buildings and commercial garage.List price reflects a cap rate of 12.5% based on current rents and occupancy. Don't miss out on this unique opportunity!!!
Broker Details
Century 21 Keim Realtors (877) 208-4158
MLS ID: keysersh State License Number: RS315754
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,250,000 |
| No. of Units: | 21 |
| Year Built: | 1935 |
| Lot Size: | 13,801.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $59,524 |
| Property Website | Click Here |
| Number of Bedrooms: | 22 |
| Number of Bathrooms: | 16 |
ID: 3yd-LVARPA-734264
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