401 Lincoln Ave Bellevue, PA 15202

This exceptional mixed-use property, located at 401 Lincoln Ave in Bellevue, Pennsylvania, presents a compelling value-add investment opportunity. The 12,000 square foot building, constructed in 1910 with varying renovation dates, boasts 14 units: 10 residential apartments and 4 commercial retail spaces. Currently operating at 100% occupancy since April 4, 2023, the property generates a strong net operating income (NOI) of $88,640, yielding a 9.09% capitalization rate. The pro-forma NOI is projected at $88,674, reflecting potential for increased revenue. Individual apartment leases are annual, with commercial leases ranging from 2-3 years. Tenants are credit-rated, mitigating risk. The 6,100 square foot lot is zoned commercial, and the building features a unique porcelain exterior. The apartments offer character and charm, with opportunities for further updates and deferred maintenance. Rent increases of 3-5% are feasible. The asking price is $975,000, translating to $81.25 per square foot and $69,642.86 per unit. This prime location on a hard corner adjacent to a CVS pharmacy offers excellent visibility and access to thriving businesses. The property is offered as a 1031 exchange opportunity. The net rentable square footage is 10,000 square feet, spread across three stories.