502 Ontario St - Multi-Family FOR SALE


Bethlehem, PA 18015- Downtown Bethlehem
$1,500,000 USD
610-252-6666
502 Ontario St, Bethlehem, PA for Sale
$1,500,000 USD
Multi-Family - FOR SALE
1/48
null | 6.7% Cap Rate

502 Ontario St
Bethlehem, PA 18015
Downtown Bethlehem


OVERVIEW

Investment Opportunity with immediate income and could be turn key depending on your needs. 2 buildings and a large lot give this property a few possibilities. Very little to do in the 6 unit building with most units having recent updates and are below market value on month to month leases. The 2 unit building is currently owner occupied and has been slightly modified for easy access between the units but could be returned to its original state, substantially raising income. The 6 unit building has 3-2bed/1bath and 3-1bed/1bath units. The 2 unit building has many updates on the first floor and is currently a 3 bed/2bath but returning to its original state will give you a 2bed/1bath and 1bed/1bath. With 8 rentable units at market value, NOI at full occupancy could be in excess of $100k giving you a projected 7% CAP rate. The large lot has plenty of parking and open space for tenant activities. Convenient location for tenants to St Lukes, Steel Stacks, public transportation, eateries and major travel routes. This property will give that portfolio the boost you have been looking for!

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$316 USD /SF

# OF UNITS

8

PRICE/UNIT

$187,500

CAP RATE

6.7%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

RM Residential

APN/PARCEL ID

P6SW2C-18-1-0204

ASK ABOUT THIS PROPERTY

Bob HoopsWeichert Realtors EastonMore Info
610-252-6666

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Bob HoopsWeichert Realtors EastonMore Info
610-252-6666

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