Courtesy of: Mario Castanhas, IronValley RE of Lehigh Valley, donnagasper@ivreoflehighvalley.com
Courtesy of: Mario Castanhas, IronValley RE of Lehigh Valley, donnagasper@ivreoflehighvalley.com
$1,050,000
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15 bed
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6,822 square feet
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6.00 Bath (6 Full)
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Lot: 0.16 Acres
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Apartment
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$1,050,000
679 Northampton Street 679-681 Northampton St is a 6 Unit fully occupied building with long term tenants, ranging from 2-20 years. An additional 5 car garage and off street parking in the rear. $124, 000 yearly gross income based on a projected Pro-Forma with a 9.33% Cap Rate. All tenants pay for their own electric and gas/electric cooking. Seller has owned this building for many years and has not kept up with the current market rents. All of the tenants have a month to month lease. $75, 000 in recent renovations. Three story rear porches have been updated with new railings and soffit. Building will be sold with a clear Certificate of Occupancy from the City of Easton. New roofing on the main building and garages has just been installed with a 20 year warranty. All updated windows. Updated and monitored fire alarm system including a Knox Box with back-up interior and exterior lighting. Recently installed new gas boiler with a summer/winter hookup. There are two large sections of the walk-out basement, one for each side of the building currently used by the owner, that could possibly be rented for storage for additional income, check with the city. There is a laundromat next door for tenant convenience. Tenants require 24-48 hour notice for all showings
Courtesy of: Mario Castanhas, IronValley RE of Lehigh Valley, donnagasper@ivreoflehighvalley.com
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