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
Listing courtesy of HowardHanna TheFrederickGroup.
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