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    Address Not Available By Request

    ALBURTIS, PA 18011
    • $3,399,800
    • STATUS: Active
    • ON SITE: 45 days
    • ID#: PALH114716
    UPDATED: 62 min ago
    $3,399,800
    • 0
      BEDS
    • 0.74
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1860
    County:

    School Ratings & Info

    School District:

    Description

    Great Investment Opportunity in Western Lehigh County 24 units, 16 furnished corporate units, 7 long term corporate apartments, and a commercial unit currently a restaurant and tavern ( paid $20K month rental in 2019) for 15% cap rate. Located in ten minutes for I78 and Pa Turnpike, five minutes S. from Rt. 222 by pass to Alburtis. Located in the largest business distribution complex in the middle Atlantic area. Located in a suburban community, near parks, pool and Bear Creek spa & ski area. Great income property complete updated over the last five years. Tavern did $2.3 M in 2019 and paid $240K rental. Without the tavern open still has a 7.6 cap rate, at current reduced rate of $5K month for tavern this investment still has a 9.46 cap rate. Owner has approval for 4 more units and if you didn't want to operate or lease the tavern out, convert it to five additional rents. As per the video and pictures this is a profitable investment in very good condition. Previews are best on Monday and Tuesdays, but other times can be arranged with the listing agent.

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    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or LoCoMusings | Century 21 Redwood Realty. 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. Data last updated: 2020-09-19T13:51:26.477.
    www.locomusings.com/homes/108547708
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    Address Not Available By Request ALBURTIS, PA 18011

    • Price: $3,399,800
    • Status: Active
    • Updated: 62 min ago
    • ID#: PALH114716
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.74
    Acres
    1860
    Built
    Neighborhood:
    Alburtis Boro (12301)
    County:
    Lehigh
    Area:
    Alburtis Boro (12301)
    School District:
    East Penn
    Property Description
    Great Investment Opportunity in Western Lehigh County 24 units, 16 furnished corporate units, 7 long term corporate apartments, and a commercial unit currently a restaurant and tavern ( paid $20K month rental in 2019) for 15% cap rate. Located in ten minutes for I78 and Pa Turnpike, five minutes S. from Rt. 222 by pass to Alburtis. Located in the largest business distribution complex in the middle Atlantic area. Located in a suburban community, near parks, pool and Bear Creek spa & ski area. Great income property complete updated over the last five years. Tavern did $2.3 M in 2019 and paid $240K rental. Without the tavern open still has a 7.6 cap rate, at current reduced rate of $5K month for tavern this investment still has a 9.46 cap rate. Owner has approval for 4 more units and if you didn't want to operate or lease the tavern out, convert it to five additional rents. As per the video and pictures this is a profitable investment in very good condition. Previews are best on Monday and Tuesdays, but other times can be arranged with the listing agent.
    Exterior Features

    Construction Materials Copper PlumbingCpvc/PvcMixed PlumbingTileOther Door Features Double EntryStorm Garage YN No Location Type Corner Lot/Unit Lot Features ClearedCornerLevelNot In DevelopmentRoad Frontage Other Equipment Negotiable Parking Features Paved ParkingPrivatePublic Parking Types On StreetParking Lot Property Condition Very Good Riparian Rights YN No Road Responsibility Boro/Township Road Surface Type Black Top Roof RubberPitched View CityStreet Water Access YN No Water Oriented YN No Waterfront YN No

    Interior Features

    Building Area Total 26079.00 Cooling Ductless/Mini-Split Exclusions Some Personal Effects And Decor Flooring Ceramic TileHardwoodVinyl Heating Central Heating YN Yes Inclusions Includes 16 Furnished Corporate Units And 7 Executive Long Term Stay ApartmentsFour A Total Of 23 Units And Approved For Four More Units To Convert. Will include All Furniture And Fixtures. Also Has Commercial TenantTavern/Restaurant . Sale Could include The Restaurant And Equipment For A Tenant To Lease. The Restaurant Was Paying $20K A Month Last Year (2019)Even At A $5K A Month Lease its A .946 Cap Rate. Net Square Feet 26079.00 Security Features Security SystemSmoke DetectorSurveillance SysExterior Cameras

    Property Features

    Acceptable Financing CashConventional Accessibility Features Ramp - Main LevelOther Assessment Year 2019 Association YN No Builder Name Schnellman Construction Business Type Apartment BuildingBanquet Facility/LodgeHotel/MotelRestaurant/Bar Central Air YN No Cooling Fuel Electric Cross Street Front Electric 200+ Amp Service220 Volts440 Volts Heating Fuel Electric Historic YN No Hot Water Propane Incorporated City Name Alburtis Boro Lease Considered YN Yes Navigable Water YN N New Construction YN No Number Of Units Total 24 Operating Expense Includes ElectricInsuranceHeating/CoolingTrashWater Original MLSNumber 304234762447 Owner Pays Other Ownership Interest Fee Simple Possession Immediate61-90 Days Cd Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 27482.67 Tax Assessment Amount 1057400.00 Total Actual Rent 529500.00 Utilities Cable TvElectric AvailableMultiple Phone LinesPhonePropaneSewer AvailableWater Available Vacation Rental YN No Water Source Public Year Built Effective 2015 Zoning C-1 Commercial Zoning Description Multiple ParcelsIncluding Commerical Lots At 60 S Main St. And Alburtis Lodge Next Door108 Main St is Also Part Of This Sale

    Listing courtesy of Iron Valley Real Estate Of Lehigh Valley.


    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or LoCoMusings | Century 21 Redwood Realty. 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. Data last updated: 2020-09-19T13:51:26.477.
     
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    540 Fort Evans Road Suite 303
    Leesburg VA, 20176