This is an exciting opportunity to own a 33+ unit property with lots of parking in the fastest growing area in Lehigh county, ten of the largest building developments are in the area including Jaindl~s Spring Creek Properties. Located just off the Route 222 by-pass and near the I-78 Interstate, this property is in desirable East Penn School district, near the largest corporate, industrial, distribution centers in Western Lehigh County, close to recreation such as Bear Creek Ski Area, cycling & sports centers, shopping and more. The property consists of 26,122 sq. ft of finished buildings that was appraised a few years ago at $4,145,000 for the real estate only. Table 1 that follows shows current room rentals in the three buildings at $14,725/mo. with full occupancy or $176,700 annual income. The current annual income will be increased from $176,700 a year to $317,100 a year when the apartments on the 3rd & 4th fl. are completed. Ten plus additional units can be created in the space that the Tavern and Lodge, currently occupy for the passive investor just looking for rental income. Great Site for a Brew Works, or sports bar with its gaming license. And additional rental conversion would move the annual cashflow to $457,260 a year, or hire an operator for the tavern and make more. The owner is asking for a $4,488,000 purchase price which you see from the Netsheet Data Entry sheet after Table 1 monthly payment of $31,115.24 can be fully supported and then enhanced with the Tavern conversion to additional 10 rental apartments, or lease tavern to a food operator. Either way its a win, win!There are few investment opportunities of this magnitude and location is always key. It~s a great location, recently updated, lots of parking and serves a growing community. Call now for further information
Water Available, Sewer Available, Butane, Electric Available, Phone, Cable TV Available, Above Ground
|Price Reduced (from $4,498,000)||$4,488,000||$10,000 (0.22%)|
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Listing information last updated on May 22nd, 2019 at 11:03pm CDT.