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Listed by Robert A. Hoops Weichert Realtors - Easton
$1,500,000
Est. payment /mo
0.42 Acres Lot
Active
502 Ontario ST Bethlehem, PA 18015
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Key Details
Property Type Commercial
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Municipality Bethlehem City
MLS Listing ID PM-142157
Year Built 1900
Annual Tax Amount $6,402
Tax Year 2026
Lot Size 0.418 Acres
Acres 0.42
Lot Dimensions 0.42
Property Sub-Type Apartment
Source Pocono Mountains Association of REALTORS®
Property Description
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!
Location
State PA
County Northampton
Area 0.42
Rooms
Basement Full, Unfinished
Interior
Heating Baseboard, Electric
Cooling Ceiling Fan(s), Window Unit(s)
Flooring Luxury Vinyl
Exterior
Parking Features Parking Lot
View Y/N No
Roof Type Asphalt
Accessibility Common Area
Building
Sewer Public Sewer
Water Public
Structure Type Brick,Vinyl Siding
Others
Tax ID 4762-10-2845-3671
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS
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