Washington School Apartments 353 Broad St 13 Unit Apartment Building $3,250,000 ($250,000/Unit) 7% Cap Rate Emmaus, PA 18049

Washington School Apartments is a 13-unit multifamily property with 11 on-site garages located at 347 Broad Street in Emmaus, Pennsylvania. The property is situated within one of the Lehigh Valley’s most desirable suburban communities, just off Emmaus’ vibrant Main Street corridor and within the highly regarded East Penn School District. Residents enjoy convenient access to Downtown Emmaus, local parks, restaurants, shopping, and major employment centers throughout the Lehigh Valley.
Washington School Apartments consists of 13 units, including (4) one-bedroom/one-bath units with average in-place rents of approximately $1,386 per month and (9) two-bedroom/one-bath units with average in-place rents of approximately $1,691 per month, which is 8-10% below the market with similar units. The property also benefits from additional income generated by (11) garages, which carry high demand in the market. The apartment units have efficient layouts that appeal to a broad tenant base, including working professionals, small families, and downsizing residents. Current rents remain below projected market levels for comparable multifamily properties in the surrounding area, presenting investors with a clear opportunity to increase revenues through continued lease turnover, operational efficiencies, and light interior and exterior improvements that enhance unit quality and overall curb appeal as units become available.
Located in Lehigh County, the property offers excellent regional accessibility via Interstate 78, Route 29, and Route 222, allowing residents convenient connectivity throughout the Lehigh Valley and Eastern Pennsylvania. Nearby demand drivers include Lehigh Valley Health Network, St. Luke’s University Health Network, Mack Trucks, and the region’s rapidly expanding logistics/distribution sector. In addition, Eli Lilly’s new manufacturing facility is expected to support job growth and housing demand across the Lehigh Valley Region.
Washington School Apartments historically maintains occupancy of ±95% due to its attractive suburban location, functional unit layouts, and proximity to major employment hubs and lifestyle amenities.
Washington School Apartments presents a compelling investment opportunity, anchored by durable in-place cash flow, diversified income streams, and continued upside through rental growth.
For buyers seeking long-term stability and future NOI expansion, the Property offers a rare combination of dependable performance and strong positioning within a highly sought-after multifamily market.