Property Listing No Longer Available for Sale

701 Northampton St, Easton, PA

Multi-family for Sale - $824,999 - 5,766 Sq. Ft. on 0.09 acres


Property Info

CIMLS#1065224
Location
  701 Northampton St
  Easton PA 18042
UpdatedJuly 13th, 2020
TypeMulti-family
Price$824,999
Building5,766 Sq. Ft.
Land0.09 acres

Property Description

$124,800K Gross, $99,840 Net Profit, 12% CAP @ Asking with 10% management/maintenance (projected). Owners purchased this iconic, all-brick Easton landmark in 2016 requiring a total gut & extreme reno. Owners invested 400K & 3 years to bring the building up to current code & CO the property, install gas lines, increase curb appeal with new sidewalks, repaint & repoint brick, new roof, redo exterior parking, etc. Property is almost fully occupied as a 5-UNIT, CLASS A, mixed investment with 3 CURRENTLY rented LUXURY apartments & 2 high visibility storefronts, one under lease to a restaurant w/ outdoor seating, leaving final space available (previously a beer distributor). All utilities separated, tenants pay water, elec, stove. 10 parking spots. Extremely high ceilings, tons of sunlight with view through new windows, glamorous NEW: flooring, kitchens, showers, vanities, etc. Has 2 COMMERCIAL BILLBOARDS @ $1,250 each, over 50k to construct.


Financials



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