Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1914
Sq.Footage
N/A
The residential component of this offering includes eight apartments: four 1-bedroom units and four 2-bedroom units. Tenants are responsible for their own electricity, which covers both cooking and hot water. Additionally, the two lower-level units also pay for their own heat, while the owner provides heat for the remaining six apartments, as well as water, sewer, and trash service for all eight units. Recent upgrades include the installation of a high-efficiency, gas-fired, direct-vent condensing boiler (Evergreen Series EVG-299, 95.5% AFUE) with outdoor reset control, along with baseboard electric heaters in the two lower-level units. Five of the eight apartments have been renovated, offering a value-add opportunity for a new owner to renovate the remaining three and increase rental income. The commercial portion of the property is currently leased to La Esquina de Jorge Restaurant. The lease includes 3% annual rent increases (the next scheduled increase begins August 1, 2025) and requires the tenant to cover all maintenance and utility expenses, except for water/sewer, which is billed back at $75 per month.
Features & Amenities
Interior
Area & Lot
-
Lot Size(acres)
0.21
-
Property Type
Commercial Sale
Exterior
-
Garage
No
-
Construction Materials
Brick
-
Parking
Parking Lot
Financial
-
Sales Price
$1,695,000
-
Tax Amount
11816.0
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Location
County
LEHIGH
Elementary School
Middle School
High School
Listing Courtesy of Dan Russoli , Acre and Estate
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Owner, President, Investment Property Advisor
TheresaKehler
Call Theresa today to schedule a private showing.
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