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Key Details
Sold Price $460,000
Property Type Condo
Sub Type Apartment Style
Listing Status Sold
Purchase Type For Sale
Square Footage 7,084 sqft
Price per Sqft $64
Subdivision Not In Development
MLS Listing ID 684245
Sold Date 11/18/22
Bedrooms 9
Full Baths 7
Year Built 1900
Annual Tax Amount $6,027
Lot Size 6,075 Sqft
Property Description
**6 Unit Investment Opportunity** Well-cared-for residential multi-unit in the heart of Bangor being sold at a 10.7% Cap Rate. This three-story building, zoned for six units, is being sold with its adjacent lot (.59 acres), which allows for tenant parking plus an additional eight spaces that can be rented to neighboring businesses. Landlord pays water, sewer, trash, and heat. Economical gas heat throughout keeps expenses low. Tenant pays electric, which includes hot water. Recent improvements include a complete renovation of the ground floor 2-bedroom apartment. Property is being sold AS-IS with a Conditional CO from the borough. Please note: CAP rate is Based on Bangor area market rents, not the current rents, which are below market value. Many long term tenants, all who want to stay.
Location
State PA
County Northampton
Area Bangor
Interior
Cooling Central AC, No Air
Exterior
Garage Paved Lot, Unpaved Lot
Garage Spaces 8.0
Building
Story 3.0
Sewer Public
Water Public
New Construction No
Schools
School District Bangor
Others
Financing Cash,Conventional
Special Listing Condition Not Applicable
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Bought with Valley Star Real Estate