110 Ridge StLansford, PA 18232

Property Details for 110 Ridge St

Year built

1970

Property size (Sq ft)

10,000 SF

Property type

Apartment buildings

Description

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.

Location Insight

City

Lansford

County

Carbon

State

Pennsylvania

Latitude

40.831

Longitude

-75.8862

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