457 W Lincoln St - Apartments FOR SALE


Easton, PA 18042- South Easton
$14,950,000 USD
215-437-0720
457 W Lincoln St, Easton, PA for Sale
$14,950,000 USD
Apartments - FOR SALE
1/15
null | 6.6% Cap Rate

457 W Lincoln St
Easton, PA 18042
South Easton


HIGHLIGHTS

  • Historic Adaptive Reuse: A 1921 industrial building redeveloped in 2022 into 59 loft-style residences with 12+ foot ceilings and modern finishes
  • Value-Add Opportunity: Opportunity to increase rents by 10% with little to no work needed on units
  • Highly Amenitized: Fitness center, resident lounge, on-site parking, and work-from-home conference space support premium rents and long-term tenancy
  • Turnkey Asset: Fully renovated in 2022 with no deferred maintenance or near-term capital requirements
  • Prime Location: Minutes from Downtown Easton and Lafayette College with seamless access to Route 22, Route 33 and Interstate 78

OVERVIEW

Originally constructed in 1921 and comprehensively redeveloped in 2022, Easton Yards stands as one of Easton's premier loft-style apartment communities, offering a residential experience that new construction assets cannot replicate. Set on Easton's South Side, the Property combines authentic industrial architecture and dramatic interior volume with convenient access to Downtown Easton's dining, retail, entertainment, and daily conveniences. Its central location and distinctive loft-style residences make it one of the most desirable places to live in the city. Easton Yards is a boutique, loft-style apartment community built to a standard rarely seen in the multifamily market. The Property was originally constructed in 1921 as an industrial facility, and its heavy masonry construction and expansive floor plates deliver ceiling heights, window lines, and interior volume that cannot be replicated in new development. The building features 59 thoughtfully designed residences across five elevator-served floors, totaling 54,577 rentable square feet and averaging 925 square feet per unit. There is a well-balanced mix of one-, two-, and three-bedroom residential units. Easton Yards offers 33 one-bedroom/one-bath units (56%) averaging 825 square feet, 1 two-bedroom/one-bath unit (2%) averaging 1,495 square feet, 23 two-bedroom/two-bath units (39%) averaging 981 square feet, and 2 three-bedroom/two-bath units (3%) at 1,645 square feet. Each residence features spacious, light-filled interiors with 12-foot-plus ceilings, oversized windows, quartz countertops, stainless steel appliances, and vinyl plank flooring. Designed for comfort and modern living, the apartments offer in-unit laundry, individually controlled heating and cooling, high-speed internet connectivity, and one included parking space, along with stylish details that appeal to renters seeking a vibrant, convenient, and sophisticated Easton lifestyle. Easton Yards is further supported by an extensive amenity package that creates a full live-work-play experience for residents while enhancing the building's overall appeal and sense of community. Amenities include an on-site fitness center, a community lounge with a pool table and kitchen, rentable conference rooms, outdoor common areas, a bike room, and a secure package delivery room with an automated text notification system, complemented by keyless fob entry, video intercom access, and video surveillance throughout. Additional parking spaces, on-site storage units, and a pet program provide ancillary income beyond base rent, while residents reimburse ownership for water and sewer, contributing more than $33,000 of annual utility recovery. This depth of amenity is rare in the Easton submarket and positions Easton Yards to continue outperforming competing products. As a fully renovated, amenity-rich asset in one of the fastest-growing and most supply-constrained markets in the Northeast, Easton Yards represents a special opportunity to acquire a high-quality, loft-style apartment community with stable in-place income and meaningful upside through the mark-to-market of existing rents and the lease-up of remaining vacancy. Its distinctive residences, extensive amenity package, and central location within a rapidly reinvesting Easton neighborhood position the property as a long-term leader in its submarket. With continued population growth, strong employment fundamentals, and sustained demand for premier rental housing, Easton Yards provides investors with cash flow and long-term appreciation in a proven, high-demand market.

FOR SALE DETAILS

PRICE

$14,950,000 USD

PRICE/SF

$225 USD /SF

# OF UNITS

59

PRICE/UNIT

$253,390

CAP RATE

6.6%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Easton Yards

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1921

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.32 AC

LAND SF

57,499 SF

ZONING

10RMD

APN/PARCEL ID

M9NE1B-7-2-0310

ASK ABOUT THIS PROPERTY

Chris FarmerGREAMore Info
215-437-0720

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Chris FarmerGREAMore Info
215-437-0720

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.