1563 Old Route 22Lenhartsville, PA 19534

Property Details for 1563 Old Route 22

Year built

1935

Construction

FRAME

Lot size

9.86 AC

Property size (Sq ft)

4,176 SF

Property type

Hospitality properties

Property subtype

Motels

APN

5415-12-86-5831

APU

541512865831

Description

This exceptional investment opportunity presents a 20-unit multi-family property ideally located at 1563 Old Route 22, Lenhartsville, PA. The property sits on approximately 9.86 acres comprised of two parcels, offering significant potential for future expansion. A short 20-minute commute to the Lehigh Valley adds to its desirability. The complex boasts a diverse unit mix including two 3-bedroom units, two 2-bedroom units, and eleven 1-bedroom/efficiency units. Three convenient storage spaces are also included, along with a workshop featuring a garage and a separate commercial garage. Currently, all residential units are fully occupied with one-year leases and security deposits in place. Water, sewer, and trash services are covered by the owner, while tenants are responsible for their individual electricity, heat (electric), and cable. Recent upgrades include new roofs and windows on all main buildings and the commercial garage. The asking price of $1,300,000 reflects a cap rate exceeding 10% based on current rental income and full occupancy. The property presents substantial value-add potential through future rent increases and the possibility of adding more units, subject to local zoning regulations and municipal approvals. This is a rare opportunity to acquire a well-maintained, high-performing multi-family property with considerable upside.

• CAP approach

  CAP return

  Valuation

  6%

  $732,119

  6.5%

  $675,802

  7%

  $627,531

• Comparable approach

  Method

  Valuation

  Relative Method

  $752,502

  Geo Method

  $1,282,245

• Alternative Use

  Use

  Valuation

  Residential

  $737,780

  Hospitality

  $675,802

  Educational

  $562,260

  Medical

  $581,596

  Retail

  $874,626

Location Insight

City

Lenhartsville

County

Berks

State

Pennsylvania

Latitude

40.5723

Longitude

-75.8834

CBSA code

39740

CBSA name

READING, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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