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Lansford,PA 18232
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PACC2005984
Year Built 1900
Annual Tax Amount $7,484
Tax Year 2022
Property Sub-Type Five Or More Units
Property Description
HALF A MILLION in Renovations for this Stunning 9-unit multi-family portfolio, including 3 Parcels, full reno on most units and bringing home $127,800 Gross Income and $109,272 Net Income, and a solid 10.4% CAP with Strong Cash On Cash with average financing terms. The owners proudly invested over $500K+ to completely rehab & update new bathrooms, vanities, lighting, hardwood flooring, new carpet, New kitchens, appliances, paint, refinished & new cabinets, & some granite countertops in the kitchens, and a BRAND NEW facade that give major curb appeal and brings light to the community. Other upgrades include a refinished rear deck & balconies, 25+ new windows, new electrical work, new plumbing & new water heaters. These properties have mountain views, stunning curb appeal, a brand-new facade, & a new roof. It's next to a brand-new St. Luke's Hospital & many other Main Street businesses. The property is sold with a clear Certificate of Occupancy & new rental permits issued by the city. There are six large 1BR/1BA units, one large 2BR/1BA unit with a deck in the rear, & one enormous, 2-story 4BR/2BA unit with a deck in the rear, plus a veteran-run barbershop. All tenants are brand new, clean, & friendly & have 1-year leases. The property is minutes from highways & shopping & is near a police station & a church. MOST COMPS in the area are appraising between $120 - $175K/unit with the town expanding with employment demand. This is a recession-proof asset that will mint you money.
Location
State PA
County Carbon
Area Lansford Boro (13409)
Zoning COMMERCIAL
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling Window Unit(s)
Inclusions All appliances
Exterior
Garage Spaces 9.0
Water Access N
View City
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Panther Valley
Middle Schools Panther Valley
High Schools Panther Valley Senior
School District Panther Valley
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition Standard