Description

Great Investment Opportunity in Western Lehigh County 24 units, 16 furnished corporate units, 7 long term corporate apartments, and a commercial unit currently a restaurant and tavern ( paid $20K month rental in 2019) for 15% cap rate. Located in ten minutes for I78 and Pa Turnpike, five minutes S. from Rt. 222 by pass to Alburtis. Located in the largest business distribution complex in the middle Atlantic area. Located in a suburban community, near parks, pool and Bear Creek spa & ski area. Great income property complete updated over the last five years. Tavern did $2.3 M in 2019 and paid $240K rental. With the tavern open still has a current reduced rate of $5K month for tavern this investment still has a 9.46 cap rate. Owner has approval for 4 more units and if you didn't want to operate or lease the tavern out, convert it to five additional rents. As per the video and pictures this is a profitable investment in very good condition. Previews are best on Monday and Tuesdays, but other times can be arranged with the listing agent.

Details

MLS#PALH114716
Listing TypeFor Sale
StyleIndustrial
Sub-TypeResale
Status10000069142
Year1860
Days On Site79

Features

SQ Feet26,079
Units24
ZoningC-1 COMMERCIAL
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Area Information
StatePA
CountyLEHIGH-PA
CityALBURTIS
Zip Code18011
AreaAlburtis Boro (12301)
Listing VS Median (in 18011)
Price:
$3,399,800
low | high
Med:
$380,000
100% of Average
SqFt:
26,079
low | high
Med:
1,040
100% of Average
$ / SqFt:
$130
low | high
Med:
$63
100% of Average
On Site:
79
low | high
Med:
20.500000
100% of Average
Listing Updated: 10/21/2020
Theodore M Van Wert LogoMLS Number: PALH114716
Listing Provided By:
Theodore M Van Wert  of  Iron Valley Real Estate of Lehigh Valley
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