Description
Attention real estate investors! Heres your chance to acquire a high-performing, two-parcel multi-family portfolio in Slatington, PA, listed at $1,450,000. This cash-flowing property on the Corner of 1st St and E. Church St. includes 12 units across two properties"211-215 1st St (6 units) and 203 1st St (6 units)"offering immediate returns and substantial upside potential.Cash Flow: Generates $184,164 in annual gross rent, with a Year 1 net operating income (NOI) of $91,586.Below-Market Rents: Current rents average $1,279/unit/month, while local comps suggest $1,342-$1,550/unit/month. Raising rents by 5%-10% could increase gross rent to $193,372-$202,584 annually, boosting NOI by $9,208-$18,420 with no added costs.Annual expenses of $92,578 include property taxes, insurance, and management, common area electric, maintenance, landscaping & snow removal, oil heat, sewer, water, trash.Property Details:211-215 1st St: 6-unit, 3-story low-rise (6,300 sq.ft., built 2001) with oil heating and public water/sewer. Lot: 62x80 (4,960 sq.ft.).203 1st St: 6-unit residential conversion (6 apts, 6,302 sq.ft. total, built 1875) on a sprawling 33,000 sq.ft. lot Features a garage for extra income potential.Upside Opportunities:Revenue Growth: Increasing rents to market rates for an annual gross of $193,372, increasing NOI to $100,800.Cost Efficiency: Reduce the expense ratio by optimizing landscaping/snow removal or billing tenants for sewer, water, & trash. Convert 6 units at 211-215 1st St. to tenant paid electric baseboard heat eliminating the oil heat. This turnkey asset delivers immediate cash flow, a 6.32% cap rate, and a clear path to scale returns.
-
0BEDS
-
0.7ACRES
-
0BATHS
-
01/2 BATHS
Description
Attention real estate investors! Heres your chance to acquire a high-performing, two-parcel multi-family portfolio in Slatington, PA, listed at $1,450,000. This cash-flowing property on the Corner of 1st St and E. Church St. includes 12 units across two properties"211-215 1st St (6 units) and 203 1st St (6 units)"offering immediate returns and substantial upside potential.Cash Flow: Generates $184,164 in annual gross rent, with a Year 1 net operating income (NOI) of $91,586.Below-Market Rents: Current rents average $1,279/unit/month, while local comps suggest $1,342-$1,550/unit/month. Raising rents by 5%-10% could increase gross rent to $193,372-$202,584 annually, boosting NOI by $9,208-$18,420 with no added costs.Annual expenses of $92,578 include property taxes, insurance, and management, common area electric, maintenance, landscaping & snow removal, oil heat, sewer, water, trash.Property Details:211-215 1st St: 6-unit, 3-story low-rise (6,300 sq.ft., built 2001) with oil heating and public water/sewer. Lot: 62x80 (4,960 sq.ft.).203 1st St: 6-unit residential conversion (6 apts, 6,302 sq.ft. total, built 1875) on a sprawling 33,000 sq.ft. lot Features a garage for extra income potential.Upside Opportunities:Revenue Growth: Increasing rents to market rates for an annual gross of $193,372, increasing NOI to $100,800.Cost Efficiency: Reduce the expense ratio by optimizing landscaping/snow removal or billing tenants for sewer, water, & trash. Convert 6 units at 211-215 1st St. to tenant paid electric baseboard heat eliminating the oil heat. This turnkey asset delivers immediate cash flow, a 6.32% cap rate, and a clear path to scale returns.
©2025 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or JW Real Estate, LLC. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2025-04-24T21:54:15.61.