110-112 W RIDGE ST Active Save Request In-Person Tour Request Virtual Tour
Lansford,PA 18232
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PACC2004836
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $7,484
Tax Year 2022
Lot Size 3,120 Sqft
Acres 0.07
Lot Dimensions 40 x 78
Property Description
$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.
Location
State PA
County Carbon
Area Lansford Boro (13409)
Zoning COMMERCIAL
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling Window Unit(s)
Inclusions All appliances
Heat Source Electric
Exterior
Garage Spaces 10.0
Waterfront N
Water Access N
View City
Accessibility 2+ Access Exits
Parking Type On Street
Total Parking Spaces 10
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Panther Valley
Middle Schools Panther Valley
High Schools Panther Valley Senior
School District Panther Valley
Others
Tax ID 122A2-24-N23
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Financing Cash,Conventional
Special Listing Condition Standard