PA > Slatington
Slatington, PA 18080,203 1ST
Slatington, PA 18080,203 1ST
Slatington, PA 18080,203 1ST
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Listed by Douglas Sigafoos • Specht Realty Inc
$1,385,000
Est. payment /mo
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6,302 SqFt
Price Dropped by $65K

203 1ST Slatington, PA 18080

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Mike Rosania

Mike Rosania

+1(267) 879-3556

UPDATED:

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 6,302 sqft

Price per Sqft $219

MLS Listing ID PALH2011420

Originating Board BRIGHT

Year Built 1875

Annual Tax Amount $9,023

Tax Year 2022

Lot Size 0.700 Acres

Acres 0.7

Lot Dimensions 145.00 x 209.50

Property Sub-Type Five Or More Units

Property Description

Attention real estate investors! Here's your chance to acquire a high-performing, two-parcel multi-family portfolio in Slatington, PA, listed at $1,450,000. This cash-flowing property on the Corner of 1st St and E. Church St. includes 12 units across two properties—211-215 1st St (6 units) and 203 1st St (6 units)—offering immediate returns and substantial upside potential.

Cash Flow: Generates $184,164 in annual gross rent, with a Year 1 net operating income (NOI) of $91,586.

Below-Market Rents: Current rents average $1,279/unit/month, while local comps suggest $1,342-$1,550/unit/month. Raising rents by 5%-10% could increase gross rent to $193,372-$202,584 annually, boosting NOI by $9,208-$18,420 with no added costs.

Annual expenses of $92,578 include property taxes, insurance, and management, common area electric, maintenance, landscaping & snow removal, oil heat, sewer, water, trash.

Property Details:

211-215 1st St: 6-unit, 3-story low-rise (6,300 sq.ft., built 2001) with oil heating and public water/sewer. Lot: 62x80 (4,960 sq.ft.).

203 1st St: 6-unit residential conversion (6 apts, 6,302 sq.ft. total, built 1875) on a sprawling 33,000 sq.ft. lot Features a garage for extra income potential.

Upside Opportunities:

Revenue Growth: Increasing rents to market rates for an annual gross of $193,372, increasing NOI to $100,800.

Cost Efficiency: Reduce the expense ratio by optimizing landscaping/snow removal or billing tenants for sewer, water, & trash. Convert 6 units at 211-215 1st St. to tenant paid electric baseboard heat eliminating the oil heat. This turnkey asset delivers immediate cash flow, a 6.61% cap rate, and a clear path to scale returns.

Location

State PA

County Lehigh

Area Slatington Boro (12318)

Zoning TR

Interior

Hot Water Electric

Heating Hot Water & Baseboard - Electric, Baseboard - Electric

Cooling None

Heat Source Electric, Oil

Exterior

Garage Spaces 14.0

Water Access N

Accessibility None

Total Parking Spaces 14

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Northern Lehigh

Others

Tax ID 556213544409-00001

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

Bright MLS (BMLS)

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agent

Mike Rosania

Agent | License ID: RS303900

+1(267) 879-3556

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