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502 Ontario St
Bethlehem, PA 18015
Multifamily Property For Sale
·
8 Units
Executive Summary
Investment Opportunity with immediate income and could be turn key depending on your needs. 2 buildings and a large lot give this property a few possibilities. Very little to do in the 6 unit building with most units having recent updates and are below market value on month to month leases. The 2 unit building is currently owner occupied and has been slightly modified for easy access between the units but could be returned to its original state, substantially raising income. The 6 unit building has 3-2bed/1bath and 3-1bed/1bath units. The 2 unit building has many updates on the first floor and is currently a 3 bed/2bath but returning to its original state will give you a 2bed/1bath and 1bed/1bath. With 8 rentable units at market value, NOI at full occupancy could be in excess of $100k giving you a projected 7% CAP rate. The large lot has plenty of parking and open space for tenant activities. Convenient location for tenants to St Lukes, Steel Stacks, public transportation, eateries and major travel routes. This property will give that portfolio the boost you have been looking for!
Property Facts
| Price Per Unit | $187,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.41 AC |
| Cap Rate | 6.70% | Building Size | 4,750 SF |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 2.53/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM Residential - Use Code - Apartments, Low rise | ||
| Price Per Unit | $187,500 |
| Sale Type | Investment |
| Cap Rate | 6.70% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 4,750 SF |
| No. Stories | 3 |
| Year Built | 1900 |
| Parking Ratio | 2.53/1,000 SF |
| Zoning | RM Residential - Use Code - Apartments, Low rise |
Amenities
Unit Amenities
- Heating
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,150 | - |
| 2+1 | 4 | $1,150 | - |
Property Taxes
| Parcel Number | P6SW2C 18 1 0204 | Improvements Assessment | $39,200 |
| Land Assessment | $29,200 | Total Assessment | $68,400 |
Property Taxes
Parcel Number
P6SW2C 18 1 0204
Land Assessment
$29,200
Improvements Assessment
$39,200
Total Assessment
$68,400
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