715 E 7th Street, Bethlehem, PA 18015

$1,500,000
Property Type: Commercial Sale Square Footage: 13,728 Lot Size (sq. ft.): 11,326 Status: Closed
Current Price: $1,500,000 List Date: 11/27/2020 Last Modified: 2/28/2025

Description

Fully occupied 12 unit building in South Bethlehem! The building consists of 6- 1 BR apartments, 6- 2BR apartments, on-site coin-operated laundry, additional storage area, security cameras, fire monitoring and a large parking lot for tenants. Tenants pay electric and the Landlord pays water, sewer and trash. Many capital improvements have already been made! Each lease is a yearly lease with an automatic 5% increase built in and an automatic 1 year renewal. All security deposits are in place. This property has had superb cash flow over the years and still has some upside available. This would be an easy addition to your portfolio and is perfectly situated between the Casino and Lehigh University. If you are looking for 12 units under one roof, don't miss this one!

More Information MLS# PM-82990

Contract Information

Listing Service: Full Service Lease Considered YN: No Property Sub Type: Business Sold Price: $1,500,000 Current Price: $1,500,000 Status: Closed Listing Contract Date: 2020-11-10

Location, Tax, and Legal

Parcel Number: P6SE2D-13-17-0204 Municipality: Bethlehem City High School District: Bethlehem Area Cnty&Muni Taxes (Legacy): 3458.3 School Tax Amount: 64700.78 Tax Annual Amount: 9929.09 Tax Assessed Value: 115200 Tax Book Number: 2013-1/330146 Zoning Description: Commercial

General Property Information

Above Grade Finished Area: 13728 Building Area Source: Public Records Stories: 3 Year Built Source: Other Lot Size Acres: 0.26 List Price/SqFt: 116.55 Sold Price/SqFt: 109.27 Building Area Total: 13728 Year Built: 1969

Remarks and Miscellaneous

Public Historical Remarks: Level: Multi, Miscellaneous: Zoning Code Rm-Residential Public Remarks: Fully occupied 12 unit building in South Bethlehem! The building consists of 6- 1 BR apartments, 6- 2BR apartments, on-site coin-operated laundry, additional storage area, security cameras, fire monitoring and a large parking lot for tenants. Tenants pay electric and the Landlord pays water, sewer and trash. Many capital improvements have already been made! Each lease is a yearly lease with an automatic 5% increase built in and an automatic 1 year renewal. All security deposits are in place. This property has had superb cash flow over the years and still has some upside available. This would be an easy addition to your portfolio and is perfectly situated between the Casino and Lehigh University. If you are looking for 12 units under one roof, don't miss this one!

Listing Terms

Cash: 1 Conventional: 1

Owner Pays

Water: 1 Sewer: 1 Trash Collection: 1

Possession

Negotiable: 1

Current Use

Residential: 1

Possible Use

Residential: 1 Investment: 1 Multi-Family: 1

Construction Materials

Brick: 1

Roof

Flat: 1

Cooling

None: 1

Heating

Electric: 1 Natural Gas: 1

Water Source

Public: 1

Sewer

Public Sewer: 1

Road Frontage Type

City Street: 1

Road Surface Type

Paved: 1

Road Responsibility

Public Maintained Road: 1

Location Tax and Legal

County: Northampton Street Number: 715 Street Direction Prefix: E Street Name: 7th Street Suffix: Street City (Post Office): Bethlehem State: PA Postal Code: 18015

Status Change Information

Purchase Contract Date: 2020-12-11 Close Date: 2021-02-25 Close Price: 1500000

Property Features

Listing Terms: Cash; Conventional Owner Pays: Water; Sewer; Trash Collection Possession: Negotiable Current Use: Residential Possible Use: Residential; Investment; Multi-Family Construction Materials: Brick Roof: Flat Cooling: None Heating: Electric; Natural Gas Water Source: Public Sewer: Public Sewer Road Frontage Type: City Street Road Surface Type: Paved Road Responsibility: Public Maintained Road
Listing Office: Steel City Realty LLC
IDX
Last Updated: February - 28 - 2025
Information deemed reliable but not guaranteed.