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Key Details
Sold Price $154,900
Property Type Commercial
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 1,470 sqft
Price per Sqft $105
Subdivision Not In Development
MLS Listing ID 637339
Sold Date 09/17/20
Bedrooms 3
Full Baths 2
Year Built 1900
Annual Tax Amount $2,974
Lot Size 1,713 Sqft
Property Description
Turn-key low maintenance 2-unit detached with new roof, vinyl siding, replacement windows, separate gas/electric and updated apartments. Fenced rear yard plus covered deck and patio for tenant enjoyment. Catasauqua is known for its independent school district with small class sizes and athletics. The community as a whole enjoys low turnover for rentals with many inter-generational families, making it a sought after investment location for its affordability and proximity to major roadways, airport, shopping, recreation and employment opportunities. Borough offers reasonable hospitable policies/code/ordinances that are appreciated by Landlords. Priced at a 6% cap rate leveraged with a 75% LTV 30-year fixed rate mortgage at 4.25% for a non-owner occupant. Seller has enjoyed long-term tenancies during his ownership.
Location
State PA
County Northampton
Area North Catasauqua
Interior
Cooling No Air
Exterior
Garage None
Building
Story 2.0
Sewer Public
Water Public
New Construction No
Schools
School District Catasauqua
Others
Financing Cash,Conventional
Special Listing Condition Not Applicable
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Bought with NON MBR Office