203 1st , SLATINGTON, PA 18080
SLATINGTON, PA 18080
Description
Attention real estate investors! Here’s your chance to acquire a high-performing, two-parcel multi-family portfolio in Slatington, PA, listed at $1,450,000. This cash-flowing property on the Corner of 1st St and E. Church St. includes 12 units across two properties211-215 1st St (6 units) and 203 1st St (6 units)offering immediate returns and substantial upside potential. Cash Flow: Generates $184,164 in annual gross rent, with a Year 1 net operating income (NOI) of $91,586. Below-Market Rents: Current rents average $1,279/unit/month, while local comps suggest $1,342-$1,550/unit/month. Raising rents by 5%-10% could increase gross rent to $193,372-$202,584 annually, boosting NOI by $9,208-$18,420 with no added costs. Annual expenses of $92,578 include property taxes, insurance, and management, common area electric, maintenance, landscaping & snow removal, oil heat, sewer, water, trash. Property Details: 211-215 1st St: 6-unit, 3-story low-rise (6,300 sq.ft., built 2001) with oil heating and public water/sewer. Lot: 62x80 (4,960 sq.ft.). 203 1st St: 6-unit residential conversion (6 apts, 6,302 sq.ft. total, built 1875) on a sprawling 33,000 sq.ft. lot Features a garage for extra income potential. Upside Opportunities: Revenue Growth: Increasing rents to market rates for an annual gross of $193,372, increasing NOI to $100,800. Cost Efficiency: Reduce the expense ratio by optimizing landscaping/snow removal or billing tenants for sewer, water, & trash. Convert 6 units at 211-215 1st St. to tenant paid electric baseboard heat eliminating the oil heat. This turnkey asset delivers immediate cash flow, a 6.32% cap rate, and a clear path to scale returns.
Details
| MLS# | PALH2011420 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | ACTIVE-BRIGHT |
| Year | 1875 |
| Days On Site | 21 |
| Listing Provided By | Specht Realty Inc | Douglas Sigafoos |
Features
| Units | 12 |
|---|---|
| Zoning | TR |
| Acreage | 0.70 |
| Water Front | Yes |
Market Activity 18080
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Learn More About This Property
| State | PA |
|---|---|
| County | LEHIGH PA |
| City | SLATINGTON |
| Zip Code | 18080 |
| Area | Slatington Boro (12318) |
| School District | NORTHERN LEHIGH |
| Listing VS Median (In 18080) | |
Price: $1,450,000 low | high Med: $375,000 On site: 21 low | high Med: 10.500000 | |
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Thomas Shipley | (410) 507-6312 | 5005086
Taylor Properties - 175 Admiral Cochrane Dr. Suite 111-112, Annapolis, MD 21401
