3-Bldg Student Housing Portfolio, Bethlehem, PA 18015
$435,000
Property Type:
Residential Income
Square Footage:
3,482
Lot Size (sq. ft.):
7,841
Status:
Closed
Current Price:
$435,000
List Date:
2/11/2020
Last Modified:
3/03/2025
Description
Turnkey, Lehigh University, off campus, student housing portfolio. Consists of 3 properties/12 beds total, selling as a package. 3482 sq ft total living space. Appliances include refrigerator, oven/range, and washer/dryer. Off-street parking available at each property. Pro forma numbers showing over 15% cap at full occupancy w/ tenants paying all utilities.
More Information MLS# PM-75545
Contract Information
Listing Service: Full Service
Property Sub Type: Multi Family
Sold Price: $435,000
Current Price: $435,000
Status: Closed
Listing Contract Date: 2020-02-11
Location, Tax, and Legal
Parcel Number: multiple
Municipality: Bethlehem City
High School District: Bethlehem Area
Cnty&Muni Taxes (Legacy): 2558.05
School Tax Amount: 4793
Tax Annual Amount: 7351.05
Tax Assessed Value: 85200
Tax Book Number: MULTIPLE
Zoning Description: Residential
General Property Information
Stories: 2
Number Of Buildings: 3
Basement YN: Yes
Parking Total: 9
Lot Size Acres: 0.18
List Price/SqFt: 129.24
Sold Price/SqFt: 124.93
Building Area Total: 3482
Year Built: 1900
Currently Not Used
Number Of Units Total: 3
Remarks and Miscellaneous
Public Historical Remarks: Kitchens: SemiMod, Bathrooms: SemiMod, Miscellaneous: Zoning Code RM, Miscellaneous: Cert of Occ Req'd Yes
Public Remarks: Turnkey, Lehigh University, off campus, student housing portfolio. Consists of 3 properties/12 beds total, selling as a package. 3482 sq ft total living space. Appliances include refrigerator, oven/range, and washer/dryer. Off-street parking available at each property. Pro forma numbers showing over 15% cap at full occupancy w/ tenants paying all utilities.
Income and Expenses
Gross Income: 79200
Net Operating Income: 69851
Operating Expense: 9349
Insurance Expense: 2000
Listing Terms
Cash: 1
Conventional: 1
FHA: 1
VA Loan: 1
Disclosures
Right of First Refusal: 1
Possession
Close Of Escrow: 1
Unit 1
Unit #: 413 Summit
Actual Rent: 3000
SqFt Total: 1442
Beds Total: 5
Baths Total: 2
Unit Remarks: Appliances: Oven, Wash/Dry, Frig
Unit 2
Unit #: 655 Hess
Occupied YN: Y
Actual Rent: 2100
SqFt Total: 1056
Beds Total: 4
Baths Total: 1
Unit Remarks: Appliances: Oven, Fridge
Unit 3
Unit #: 657 Hess
Actual Rent: 1500
SqFt Total: 984
Beds Total: 3
Baths Total: 2
Unit Remarks: Appliances: Oven, Wash/Dry, Frig
Cooling
Ceiling Fan(s): 1
None: 1
Heating
Baseboard: 1
Forced Air: 1
Water Heater
Electric: 1
Appliances
Water Heater: 1
Water Source
Public: 1
Sewer
Public Sewer: 1
Parking Features
Off Site: 1
Paved: 1
Road Surface Type
Paved: 1
Road Responsibility
Public Maintained Road: 1
Location Tax and Legal
County: Northampton
Street Number: 3-Bldg
Street Name: Student Housing Portfolio
City (Post Office): Bethlehem
State: PA
Postal Code: 18015
Status Change Information
Purchase Contract Date: 2020-03-08
Close Date: 2020-06-19
Close Price: 435000
Property Features
Listing Terms: Cash; Conventional; FHA; VA Loan
Disclosures: Right of First Refusal
Possession: Close Of Escrow
Cooling: Ceiling Fan(s); None
Heating: Baseboard; Forced Air
Water Heater: Electric
Appliances: Water Heater
Water Source: Public
Sewer: Public Sewer
Parking Features: Off Site; Paved
Road Surface Type: Paved
Road Responsibility: Public Maintained Road
Listing Office:
Steel City Realty LLC
Last Updated: March - 03 - 2025
Information deemed reliable but not guaranteed.
