Easton Yards 457 W Lincoln St 59 Unit Apartment Building $14,950,000 ($253,390/Unit) 6.60% Cap Rate Easton, PA 18042

Originally constructed in 1921 and comprehensively redeveloped in 2022, Easton Yards stands as one of Easton's premier loft-style apartment communities, offering a residential experience that new construction assets cannot replicate. Set on Easton's South Side, the Property combines authentic industrial architecture and dramatic interior volume with convenient access to Downtown Easton's dining, retail, entertainment, and daily conveniences. Its central location and distinctive loft-style residences make it one of the most desirable places to live in the city.
Easton Yards is a boutique, loft-style apartment community built to a standard rarely seen in the multifamily market. The Property was originally constructed in 1921 as an industrial facility, and its heavy masonry construction and expansive floor plates deliver ceiling heights, window lines, and interior volume that cannot be replicated in new development.
The building features 59 thoughtfully designed residences across five elevator-served floors, totaling 54,577 rentable square feet and averaging 925 square feet per unit. There is a well-balanced mix of one-, two-, and three-bedroom residential units. Easton Yards offers 33 one-bedroom/one-bath units (56%) averaging 825 square feet, 1 two-bedroom/one-bath unit (2%) averaging 1,495 square feet, 23 two-bedroom/two-bath units (39%) averaging 981 square feet, and 2 three-bedroom/two-bath units (3%) at 1,645 square feet. Each residence features spacious, light-filled interiors with 12-foot-plus ceilings, oversized windows, quartz countertops, stainless steel appliances, and vinyl plank flooring. Designed for comfort and modern living, the apartments offer in-unit laundry, individually controlled heating and cooling, high-speed internet connectivity, and one included parking space, along with stylish details that appeal to renters seeking a vibrant, convenient, and sophisticated Easton lifestyle.
Easton Yards is further supported by an extensive amenity package that creates a full live-work-play experience for residents while enhancing the building's overall appeal and sense of community. Amenities include an on-site fitness center, a community lounge with a pool table and kitchen, rentable conference rooms, outdoor common areas, a bike room, and a secure package delivery room with an automated text notification system, complemented by keyless fob entry, video intercom access, and video surveillance throughout. Additional parking spaces, on-site storage units, and a pet program provide ancillary income beyond base rent, while residents reimburse ownership for water and sewer, contributing more than $33,000 of annual utility recovery. This depth of amenity is rare in the Easton submarket and positions Easton Yards to continue outperforming competing products.
As a fully renovated, amenity-rich asset in one of the fastest-growing and most supply-constrained markets in the Northeast, Easton Yards represents a special opportunity to acquire a high-quality, loft-style apartment community with stable in-place income and meaningful upside through the mark-to-market of existing rents and the lease-up of remaining vacancy.
Its distinctive residences, extensive amenity package, and central location within a rapidly reinvesting Easton neighborhood position the property as a long-term leader in its submarket. With continued population growth, strong employment fundamentals, and sustained demand for premier rental housing, Easton Yards provides investors with cash flow and long-term appreciation in a proven, high-demand market.