Active
110-112 W Ridge St
Lansford PA, 18232
$1,000,000
Active
Commercial
Built in 1900
$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.
PACC2004836
MLSⓇ ID
September 11, 2024
Listed
November 22, 2024
Updated
Map
110-112 W Ridge St
Lansford PA, 18232
Interior Features
Total Stories
3
Appliances
Electric Water Heater
Fireplace
No
Cooling
Yes
Cooling Description
Window Unit(s)
Heating
Yes
Heating Description
Baseboard, Electric
Exterior/Building Features
Lot Size
0.07 Acres
Sewer
Public Sewer
Other Property Details
Area Name
LANSFORD BORO
Taxes
$7,484
Tax Frequency
Annually
Days on Market
15
Garage
No
Parking
On Street
Parking Total
10
View
Yes
View Description
City
County
CARBON
Water Source
Public
Pool
No
Listing History
Date | Event | Price |
---|---|---|
10/17/2024 | Price change | $1,000,000 -10% |
10/17/2024 | Active | — |
9/25/2024 | Pending | — |
Listed by eXp Commercial
Listing Contact: 4848662495
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Data last updated on 11/22/2024 at 4:09 AM UTC