110 W Ridge St Unit Portfolio Lansford, PA 18232
Estimated payment $6,699/month
Highlights
- Video Cameras
- Baseboard Heating
- Laundry Facilities
About This Home
HALF A MILLION in Renovations for this Stunning 9-unit multi-family portfolio including 3 Parcels, full reno on most units and bringing home $126,300 Gross Income and $107,772 Net Income, and a solid 10% CAP with 20% Cash On Cash @ asking. The owners proudly invested over $500K+ to completely rehab & update new bathrooms, vanities, lighting, hardwood flooring, new carpet, New kitchens, appliances, paint, refinished & new cabinets, & some granite countertops in the kitchens, and a BRAND NEW facade that give major curb appeal and brings light to the community. Other upgrades include a refinished rear deck & balconies, 25+ new windows, new electrical work, new plumbing & new water heaters. These properties have mountain views, stunning curb appeal, a brand-new facade, & a new roof. It’s next to a brand-new St. Luke's Hospital & many other Main Street businesses. The property is sold with a clear Certificate of Occupancy & new rental permits issued by the city. There are six large 1BR/1BA units, one large 2BR/1BA unit with a deck in the rear, & one enormous, 2-story 4BR/2BA unit with a deck in the rear, plus a veteran-run barbershop. All tenants are brand new, clean, & friendly & have 1-year leases. The property is minutes from highways & shopping & is near a police station & a church. MOST COMPS in the area are appraising between $120 and $175K per unit with the town expanding with employment demand. This is a recession-proof asset that will mint you money.
Property Details
Home Type
- Apartment
Est. Annual Taxes
- $8,528
Year Built
- Built in 1970
Lot Details
- 3,100 Sq Ft Lot
- Lot Dimensions are 78x54
Parking
- 2 Parking Spaces
Home Design
- Brick Exterior Construction
- Vinyl Construction Material
Interior Spaces
- 9,500 Sq Ft Home
- 3-Story Property
- Video Cameras
Bedrooms and Bathrooms
- 12 Bedrooms
Utilities
- Cooling System Mounted In Outer Wall Opening
- Baseboard Heating
- Cable TV Available
Listing and Financial Details
- Assessor Parcel Number 122A2-24-N23
Community Details
Building Details
- Electric Expense $750
- Insurance Expense $5,000
- Maintenance Expense $1,500
- Trash Expense $1,250
- Water Sewer Expense $4,000
- Operating Expense $18,528
- Gross Income $126,300
- Net Operating Income $107,772
Additional Features
- 9 Units
- Laundry Facilities
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/20/2025 03/20/25 | For Sale | $1,075,000 | -- | $113 / Sq Ft |
Source: Greater Lehigh Valley REALTORS®
MLS Number: 754171
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