502 Ontario Street, Bethlehem, PA 18015
sale
$1,500,000
|
Apartment
Courtesy Of WEIC02 - Weichert Realtors
Investment Opportunity with immediate income and could be turn key depending on your needs. 2 buildings and a large lot give this property a few possibilities. Very little to do in the 6 unit building with most units having recent updates and are below market value on month to month leases. The 2 unit building is currently owner occupied and has been slightly modified for easy access between the units but could be returned to its original state, substantially raising income. The 6 unit building has 3-2bed/1bath and 3-1bed/1bath units. The 2 unit building has many updates on the first floor and is currently a 3 bed/2bath but returning to its original state will give you a 2bed/1bath and 1bed/1bath. With 8 rentable units at market value, NOI at full occupancy could be in excess of $100k giving you a projected 7% CAP rate. The large lot has plenty of parking and open space for tenant activities. Convenient location for tenants to St Lukes, Steel Stacks, public transportation, eateries and major travel routes. This property will give that portfolio the boost you have been looking for!
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Property Features
- Age: Over 50 Years Old
- Amenities: Ceiling Fan
- Amenities: Basement
- Cooling System: Window Unit(s)
- Cooling System: Ceiling Fan(s)
- Exterior Type: Vinyl Siding
- Exterior Type: Brick
- Floor Covering: Vinyl
- Floor Covering: Laminate
- Floors: 4
- Heating System: Electric (Heating)
- Heating System: Baseboard
- Legal Description: Block: 18 /Lot: 1
- MLSID: PM-142157
- Roof Type: Asphalt
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