216 East Broad, Bethlehem, PA 18018

$699,000
4
BD
5
BA
4,798
SqFt
List Price
$699,000
MLS#
681083
Status
AVAILABLE
Type
Multifamily
City
Bethlehem
Area
Bethlehem-North
County
Northampton
Bedrooms
4
Bathrooms
5
Living Area
4,798
Lot Size
5,700
Year Built
1930

Property Description

Less than 1/2 block from the new luxury apartments and upscale grocer being built at 250 E Broad, this four unit in North Bethlehem (1 Commercial & 3 Residential) plus 3 car garage already provides a nice return. First floor approx 2,100 sq ft restaurant w/hardwood floors, 2 dining areas plus party room & waiting area. 2 restrooms. Upper levels include One 2 bedroom recently updated unit & Two 1 bedroom units. Separate utilities, except water/sewer which owner splits w/commercial unit. New Gas HVAC for first floor & new baseboard electric heat for the 3 residential units. 4 new hot water heaters & 5 new electric panel boxes (1 for owner lights). Roof (2014). Current rental COs with resale CO to be provided by owner. Check with City of Bethlehem for the various commercial uses and opportunity zone benefits. Cap rate at listing price just under 7%. Raising rents to market rates brings cap rate close to 10%. Great time to own in this part of North Bethlehem. Zoned: CG-GENERAL COMMERCIAL

Additional Information

Acres
0.131
Construction
Brick
Cooling
Ceiling Fan, Central AC, Window AC
Living Area
4,798
Lot Dimensions
61 by 93
Lot Size
5,700
Net Income
47603
Operating Expense
11197
Parking
Garage, Paved Lot
Parking Spaces
8
Region
Bethlehem-North
School District
Bethlehem
Sewer
Public
Stories
2
Taxes
$5,552
Water Sewer
640
Zoning
CG-GENERAL COMMERCIAL

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of HowardHanna TheFrederickGroup.

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