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$ 750,000
Est. payment | /mo
6,690 SqFt
$ 750,000
Est. payment | /mo
6,690 SqFt
Key Details
Property Type Condo, Commercial
Sub Type Apartment Style,Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 6,690 sqft
Price per Sqft $112
Subdivision Not In Development
MLS Listing ID 754963
Year Built 1954
Annual Tax Amount $9,130
Lot Size 2.390 Acres
Property Sub-Type Apartment Style,Mixed Use
Property Description
Investors, take notice—7108 PA Route 873 in Slatington is a rare opportunity to acquire a fully occupied, 7-unit mixed-use property that delivers consistent performance and outstanding value-add potential. This income-generating asset features five well-maintained apartments (four 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit), a detached 2-bedroom, 1-bath ranch home, as well as a 1,200 square foot workshop/storage building, and two garages that provide additional rental income streams. Tenants cover electric, and trash, while the landlord is responsible for water/sewer, heat, lawn care, and house electric meter. The property has been fully occupied for the past three years, reflecting its strong tenant appeal and operational stability. With an actual net operating income (NOI) of $62K and a pro forma NOI of $72,000, this property offers immediate cash flow with room for increased returns through strategic upgrades and rent adjustments. Offered at an actual 8.3% cap rate, and a proforma 9.6% cap rate. Whether you're expanding your portfolio or seeking your next high-performing asset, this property checks all the boxes for stability, upside, and long-term investment success. Owner is a licensed Realtor.
Location
State PA
County Lehigh
Area Washington_L
Interior
Cooling Window ACs
Exterior
Garage Spaces 8.0
Building
Sewer Septic
Water Well
New Construction No
Schools
School District Northern Lehigh
Others
Financing Cash,Conventional
Special Listing Condition Not Applicable
Listed by EXP Realty LLC