For Sale
$1,000,000

110 Ridge StLansford, PA 18232

Renovated 9-unit apartment building, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional value-add investment opportunity presents a fully renovated, nine-unit apartment building situated in Lansford, Pennsylvania. The property boasts a total of 100,000 square feet across two, three-story buildings on a 4,000 square foot lot. Built in 1970 and extensively renovated in 2024, the property features a mix of unit sizes, including six one-bedroom, one-bathroom units, one two-bedroom, one-bathroom unit, and one large four-bedroom, two-bathroom unit. Additionally, there's a small commercial space currently occupied by a barber shop. All units are currently 100% occupied, generating a current Net Operating Income (NOI) of $105,358, representing a 10.54% capitalization rate. Pro-forma NOI is projected at $116,000, resulting in an 11.60% pro-forma cap rate. Recent renovations include new bathrooms, flooring, kitchens, appliances, paint, refinished and new cabinets, and some granite countertops. Exterior improvements encompass a new roof, refinished decks and balconies, and numerous new windows. The property benefits from new electrical work, new water heaters, and a Certificate of Occupancy. Located at 110 W Ridge St, Lansford, PA 18232, this property offers a compelling investment opportunity with significant upside potential. The asking price is $1,000,000, translating to $100 per square foot and $111,111 per unit. Heating is via baseboard heaters (tenant expense), and cooling is provided by wall units. Public water is available. This turnkey property is ready for immediate cash flow.

Highlights

  • $1,000,000 asking price for a value-add, Class B multifamily apartment building.
  • 9-unit apartment building with 10,000 square feet on a 4,000 square foot lot.
  • 100% occupancy, generating a current NOI of $105,358 and a pro-forma NOI of $116,000.
  • 10.54% cap rate, with a pro-forma cap rate of 11.60%.
  • Recently renovated in 2024, with new kitchens, bathrooms, appliances, and other upgrades.
  • Located at 110 W Ridge St, Lansford, PA 18232, near St. Luke's Hospital and other businesses.

Property Details for 110 Ridge St

Property type
Apartment buildings
Square Feet
10,000 SF
Class
B
Year Built/Renovated
1970/2024
Buildings
2
Stories
3
Units
9

Location Insight

City
Lansford
County
Carbon
State
Pennsylvania
Latitude
40.83103497711
Longitude
-75.886248319783
110 Ridge St, Lansford, Pennsylvania

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110 Ridge St
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