Don't Have an Account? Sign Up to Save Favorite Listings, Save Searches & More...
This investment opportunity to own a 33+ unit property with lots of parking in the fastest growing area in Lehigh county, ten of the largest building developments are in the area including Jaindl~s Spring Creek Properties. Located just off the Route 222 by-pass and near the I-78 Interstate, this property is in desirable East Penn School district, near the largest corporate, industrial, distribution centers in Western Lehigh County, close to recreation such as Bear Creek Ski Area, cycling & sports centers, shopping and more. The property consists of 26,122 sq. ft of finished buildings that was appraised a few years ago at $4,145,000 for the real estate only. Table 1 that follows shows current room rentals in the three buildings at $14,725/mo. with full occupancy or $176,700 annual income. The current annual income will be increased from $176,700 a year to $317,100 a year when the apartments on the 3rd & 4th fl. are completed. Ten plus additional units can be created in the space that the Tavern and Lodge, currently occupy for the passive investor just looking for rental income. Great Site for a Brew Works, or sports bar with its gaming license. And additional rental conversion would move the annual cashflow to $457,260 a year, or hire an operator for the tavern and make more. The owner is asking for a $4,488,000 purchase price which you see from the Netsheet Data Entry sheet after Table 1 monthly payment of $31,115.24 can be fully supported and then enhanced with the Tavern conversion to additional 10 rental apartments, or lease tavern to a food operator. Either way its a win, win!There are few investment opportunities of this magnitude and location is always key. It~s a great location, recently updated, lots of parking and serves a growing community. Call now for further information
© 2019 BRIGHT, All Rights Reserved. Information deemed reliable but not guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Berkshire Hathaway HomeServices PenFed Realty participates, and is provided by BRIGHT through a licensing agreement. Real estate listings held by brokerage firms other than Berkshire Hathaway HomeServices PenFed Realty are marked with the IDX logo and detailed information about each listing includes the name of the listing broker.The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller.
Listing information last updated on June 4th, 2020 at 2:20pm CDT.