Sold
Address
1240 Pembroke Road, Freemansburg Borough, PA
Price
$ 501,000
Property Attributes
  • MLS#732646
  • TypeMulti-Family
  • CountyNORTHAMPTON
  • CityFreemansburg Borough
  • Zip18017
  • Style
  • Price$ 501,000
  • Bedrooms5
  • Full Bathrooms2
  • Half Bathrooms1
  • Sqr Footage4950
  • Lot Size0.126 Acres
Data Source:
Greater Lehigh Valley MLS (GLVMLS)
Property Description

$62,400 Gross Income, $48,520 Net Income, 10% Cap. These prideful owners have invested over $125K to renovate and rebrand this fully occupied, cash-flowing, 3-unit investment property including a full renovation of all residential and commercial units plus a newly paved $25K parking lot. Each unit was modernized from top to bottom with fresh paint, new HW flooring, energy-efficient windows, newly tiled bathrooms, and all-new kitchens with GRANITE countertops, new appliances, & each tenant has their own washer/dryer. The basement was separated to allow for tenant storage. The 3BR unit is very large and has a lot of sunlight. The 2BR is spacious and has oversized Bedrooms. The commercial unit has brand-new temp-controlled split units. There is a total of 10 paved parking spaces for tenants and commercial. Long-standing commercial tenant has a 5-year lease and is in year 2 with the option to renew. Brand new sidewalks along the exterior. Electric and heat are all separately metered and paid by the tenants. The ownership group is listing over 25 multi-family units available in addition to this property. *Seller is a licensed real estate agent. *** PROJECTIONS with slightly higher rents come in at above $66,000 Gross.*** The 3-bedroom unit is on a month-to-month lease and market rent can be $2000 easily. The commercial unit is used by a great appliance team. They use it more as a supply then a showroom but it was made to have showroom and offices with bathroom and new AC/ Heating

Price History
2/11/2024 Listed $480,000

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 18017

Price
AVG $310K
$500K

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