Eco Friendly
Listed By:
eXp Commercial
Address
1240 Pembroke Road, Bethlehem, PA
Price
$ 501,000
Property Attributes
  • MLS#PANH2005182
  • TypePending
  • CountyNORTHAMPTON
  • CityBethlehem
  • AreaFreemansburg Boro
  • Zip18017
  • StyleApartment Building,Flex
  • Year Built1928
  • Taxes$ 4576
  • Price$ 501,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage1588
  • Lot Size5,663 SqFt
Data Source:
Bright MLS
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
2/17/2024 Listed $480,000

General Features

Sewer Public Sewer
Heating Baseboard - Electric,Zoned,Baseboard - Hot Water
Cooling Central A/C,Multi Units
Possession Negotiable
Zoning GC
Construction Materials Block,Concrete,Advanced Framing,Aluminum Siding
Exclusions Tenants personal property
Year Built 1928
Property SubType Mixed Use
Tax Year 2022
Percent Ownership Fee Simple
Cool Fuel Electric
Gross Income 62500.00
OwnerPays Insurance,Sewer,Taxes - Real Estate,Water
Business Type Apartment Building,Flex,Other
Accessibility 2+ Access Exits
County NORTHAMPTON
Net Operating Income 48025.00
Insurance Expense 2700.00
New Construction No
Property Type Commercial Sale
MaintenanceExpense 1500.00
Possible Use Apartment Building,Apartments,Barber/Beauty,Clothing,Commercial,Day Care,Florist/Nursery,Food & Beverage,Laundromat,Mini-Storage,Mixed Use,Office,Retail,Spa
Water Access Y/N No
Property Use Investment
Status PENDING
Directions GPS
ModificationTimestamp 2024-03-08T15:50:19
City BETHLEHEM
Buyer Agent Compensation 2
MLS Area Freemansburg Boro (12412)
Lot Size Square Feet 5500.00
Tax Assessed Value 52300.0
Waterfront Y/N No
Street Name PEMBROKE
Tax Annual Amount 4576.0
Electric Expense 0.00
Fuel Expense 0.00
Trash Expense 0.00
Price Per Sq Ft 401.44
Association Fee 0.00
Vacation Rental Y/N No
Days on Market 22
Standard Status Pending
Year Built Source Assessor
Tax Lot N7SW4C
Total Actual Rent 62500.00
Cap Rate 10.00
Buyer Agent Compensation Type % Of Gross
Association Recreation Fee No

Interior Features

Heating Fuel Electric,Oil
Hot Water Electric
Heating Y/N Yes
Street Suffix ROAD
Central Air Y/N Yes
Total Restrooms 1

Exterior Features

Water Source Public
Inclusions All appliances in the apartment
Total Parking Spaces 8
Type of Parking Driveway,Parking Lot
Land Use Code 500
Water View Y/N No
Building Area Total 1248.00
Lot Dimensions 0.00 x 0.00
Lot Size Acres 0.13
Lot Size Units Square Feet
Lot Size Source Assessor
Land Assessed Value 26300.00
Navigable Water Y/N No
Water Oriented Y/N No
LotDimensionsSource Assessor
Car Parking Spaces 8

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 Pending Average in 18017

Price
AVG $290K
$500K
Taxes
AVG $5,177
$4,576
Visits
AVG 123
51
Data Provided by Inside Real Estate®
Year Built
AVG 1969
1928

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