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$123K Gross, $105K Net, 10.5% CAP, 20% Cash On Cash @ asking. The owners proudly invested over $300K+ to completely rehab & update this cash-flowing, turnkey 9-unit multi-family portfolio, including 110, 112, & 114 W Ridge. These properties have mountain views, stunning curb appeal, a brand-new facade, & a new roof. It's located next to a brand-new St. Luke's Hospital & many other Main Street businesses. Renovations include mostly new bathrooms, flooring, kitchens, appliances, paint, refinished & new cabinets, & some granite countertops in the kitchens. The property is sold with a clear Certificate of Occupancy & new rental permits issued by the city. Other upgrades include a refinished rear deck & balconies, 25+ new windows, new electrical work, & new water heaters. There are six large 1BR/1BA units, one large 2BR/1BA unit with a deck in the rear, & one enormous, 2-story 4BR/2BA unit with a deck in the rear, plus a veteran-run, long-standing barbershop. All tenants are brand new, clean, & friendly & have 1-year leases. The property is minutes from highways & shopping & is near a police station & a church. Note: The owners love this property but live 1.5 hours away, & due to the distance, they are selling to a lucky buyer. The ownership group lists over 15 multi-family units in addition to this property. Gross projections are $140K+ with 18.8% cash on cash. The owner can fill units or will pay for 1 Month's rent if the unit is vacant at the time of sale.
| DAYS ON MARKET | 103 | LAST UPDATED | 10/16/2024 |
|---|---|---|---|
| YEAR BUILT | 1900 | COMMUNITY | Lansford Boro (13409) |
| COUNTY | CARBON | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| PRICE HISTORY | |
| Prior to Oct 16, '24 | $1,100,000 |
|---|---|
| Oct 16, '24 - Today | $1,000,000 |
| ADDITIONAL DETAILS | |
| AIR | Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater |
| AREA | Lansford Boro (13409) |
| CONSTRUCTION | Aluminum Siding |
| HEAT | Baseboard, Electric |
| LOT | 3049 sq ft |
| LOT DIMENSIONS | 40 x 78 |
| PARKING | On Street |
| SEWER | Public Sewer |
| STORIES | 3 |
| TAXES | 7484 |
| VIEW | Yes |
| VIEW DESCRIPTION | City |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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