$919,000
$1,000,000
8.1%For more information regarding the value of a property, please contact us for a free consultation.
8,500 SqFt
SOLD DATE : 12/21/2023
Key Details
Sold Price $919,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 8,500 sqft
Price per Sqft $108
MLS Listing ID PACC2003020
Sold Date 12/21/23
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $4,887
Tax Year 2022
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 25' X 150'
Property Description
11.25% + Cap, $134,700 Gross Income, $113,128 Net, PRE-Leased + Projected. Owners have invested hundreds of thousands in this completely remodeled 9 Unit "Loft Style" multi-family featuring six (6) residential units, two (2) commercial units, and one (1) storage/garage unit. There are four (4) 3BR/1BA, one (1) 2BR/1BA, and one (1) 1BR/BA. The property has all luxury upgrades including NEW hardwood flooring, NEW carpets, Fresh paint, all modern kitchens with custom cabinets & stainless steel appliances, custom countertops, high-end lighting fixtures, NEW PEX plumbing, NEW electrical, ALL NEW energy-efficient WINDOWS, & completely NEW ROOF. Commercial units have 11' - 14' ceilings and have tenants already interested as it is located on the busy main street of downtown Lansford. Per zoning, the potential for commercial conversion to residential units. A couple of units have been pre-leased and only 2 units remain to be completed with the region's top-ranking construction company. PROPERTY IS LOCATED NEXT TO Brand New ST. Luke's Hospital Facility. Owners have multiple units on Main St and always hit their projected rents, the property is currently being rented. The sellers will guarantee the property will be fully rented by closing for the lucky buyer. This property can be purchased individually or along with 30 other units being sold by the same seller, including 48 - 50 Ridge (6 units), 106 Ridge (6 Units), 214 216 Ridge (4 Units), and three additional parcels.
Location
State PA
County Carbon
Area Lansford Boro (13409)
Zoning COMMERCIAL/ RESIDENTIAL
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling Window Unit(s)
Flooring Hardwood, Carpet
Heat Source Electric
Exterior
Garage Spaces 5.0
Water Access N
View Mountain, City
Roof Type Flat
Accessibility 2+ Access Exits
Total Parking Spaces 5
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Panther Valley Elem
Middle Schools Panther Valley Middle
High Schools Panther Valley High
School District Panther Valley
Others
Tax ID 122A2-24-B13
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Financing Conventional,Cash
Special Listing Condition Standard
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Bought with james J Reardon • eXp Commercial