1563 Old Route 22

1563 Old Route 22, Greenwich, PA

$1,500,000

Price

8.4%

Cap Rate

$126,270

NOI

Gallery
Street
Map
Overview
Cap Rate
8.4%
NOI
$126,270
Lot Area
9.86 acres
Units
19
Year Built
1935
Zoning
Village/Rural
MlsNumber
721939
Parking Spots
40
Description

UNIQUE INVESTMENT OPPORTUNITY in this 19 unit investment property situated on just shy of 10 acres and a short 20 minute commute to the Lehigh Valley. This property consists of 2-3BR units, 2-2BR units, 11-1BR/efficiency units, 3 storages spaces, and a commercial garage space. Plenty of value add/upside potential with rent increases and the potential to add more units. Check with zoning and local municipality regarding options. All residential units are fully-occupied with current leases/security deposits in place. Owner pays W/S/T and common electric. All utilities are separate and tenants pay heat(electric), electric, and cable. New roofs were recently put on all the main buildings and commercial garage. There is an on-site manager and maintenance person in place(rents are reduced for their services) making for a more efficient/hands-free experience for the owner. Currently priced at an 8.4% cap rate based on current rents. Don't miss out on this opportunity!!!

Highlights
  • Tax Roll Number: 45541512865831
  • Annual Tax: $ 9606.42
  • Average Occupancy Rate: 100.0
  • Gross Income: $ 146400.0
  • Age: Over 50 Years Old
  • Lot Size: 5-10 Acres
  • Sewer: Septic
  • Water: Well
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Listing ID: 942e7849-2438-4503-8dfb-526a0ece929b
Location
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