502 Ontario St, Bethlehem, PA 18015
- $1,500,000
Listing courtesy of Weichert Realtors. Contact: 6102526666
- List Price
- $1,500,000
- Days on Market
- 92
- Status
- ACTIVE
- MLS#
- PANH2010116
- Lot Size (Acres)
- 0.41000000000000003
- Year Built
- 1900
- County
- Northampton
- School District
- Bethlehem Area
Property Description
Investment Opportunity with immediate income and could be turn key depending on your needs. 2 buildings and a large lot expand opportunities. 6 units in the main building with most units having recent updates and are below market value on month to month leases. The owner is currently occupying both units in the 2 unit building. 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. Considerations for additional income can be adding on-site laundry and storage in the large basement. 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!
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Additional Information
- Area
- Bethlehem City (12404)
- Taxes
- $6402
- School District
- Bethlehem Area
- Flooring
- Laminate Plank
- Heating
- Baseboard - Electric
- Heating Fuel
- Electric
- Cooling
- Window Unit(s)
- Roof
- Asphalt
- Water
- Public
- Sewer
- Public Sewer