679 Northampton St, Easton, PA 18042

Property Description

679-681 Northampton St is a 6 Unit fully occupied building with long term tenants, ranging from 2-20 years. An additional 5 car garage and off street parking in the rear. $124,000 yearly gross income based on a projected Pro-Forma with a 9.33% Cap Rate. All tenants pay for their own electric and gas/electric cooking. Seller has owned this building for many years and has not kept up with the current market rents. All of the tenants have a month to month lease. $75,000 in recent renovations. Three story rear porches have been updated with new railings and soffit. Building will be sold with a clear Certificate of Occupancy from the City of Easton. New roofing on the main building and garages has just been installed with a 20 year warranty. All updated windows. Updated and monitored fire alarm system including a Knox Box with back-up interior and exterior lighting. Recently installed new gas boiler with a summer/winter hookup. There are two large sections of the walk-out basement, one for each side of the building currently used by the owner, that could possibly be rented for storage for additional income, check with the city. There is a laundromat next door for tenant convenience. Tenants require 24-48 hour notice for all showings