523-535 2nd Ave - Apartments FOR SALE


Bethlehem, PA 18018
$4,500,000 USD
646-712-7360
523-535 2nd Ave, Bethlehem, PA for Sale
$4,500,000 USD
Apartments - FOR SALE
1/9
null | 6.61% Cap Rate

523-535 2nd Ave
Bethlehem, PA 18018


HIGHLIGHTS

  • Positioned in a high-growth submarket with limited new supply and strong rental demand.
  • Located near Bethlehem’s historic downtown, offering dining, retail, and cultural amenities.
  • Close proximity to major employers such as St. Luke’s University Health Network, Amazon, and Lehigh University.
  • Immediate access to major transportation routes, including I-78, I-476, Routes 33 and 378, and U.S. 22.
  • Spacious two-bedroom layouts with modernized interiors and multiple bath configurations.
  • Fully stabilized 18-unit multifamily community with 100% occupancy.

OVERVIEW

523 2nd Avenue and 526 3rd Avenue present an exceptional opportunity to acquire an 18-unit multifamily community in the heart of Bethlehem, Pennsylvania. Located within the thriving Lehigh Valley, one of the fastest-growing regions in the Northeast, this property benefits from a strong economic base, major employment anchors, and a vibrant cultural environment. The community features spacious two-bedroom units with a mix of 1.5, 2, and 2.5 baths, many offering layouts approaching or exceeding 1,000 square feet. Modernized interiors, efficient floor plans, and stable occupancy underscore the property’s appeal to renters seeking comfort and functionality. Currently 100% occupied, the property demonstrates strong in-place income and proven rent performance, with additional upside potential through loss-to-lease capture. Its strategic location provides immediate access to Interstates 78 and 476, Routes 33 and 378, and U.S. Highway 22, ensuring seamless connectivity to major employers such as St. Luke’s University Health Network, Lehigh Valley Health Network, Wind Creek Casino & Resort, Amazon, and Lehigh University. Proximity to Bethlehem’s historic downtown further enhances the property’s desirability, offering residents convenient access to dining, retail, and entertainment options. With limited new multifamily supply in the region and consistent demand from working professionals and households, this stabilized core-plus asset offers durable long-term cash flows and strong appreciation potential. Investors will benefit from the property’s solid fundamentals, desirable unit mix, and the continued growth trajectory of the Lehigh Valley market.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$130 USD /SF

# OF UNITS

18

PRICE/UNIT

$250,000

CAP RATE

6.61%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1930

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,182 SF

ZONING

RT

APN/PARCEL ID

642748303909-1

ASK ABOUT THIS PROPERTY

Luke DeLucaGREAMore Info
646-712-7360

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Luke DeLucaGREAMore Info
646-712-7360

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