507-509 Delaware Avenue, Portland, PA 18351
$450,000
Property Type:
Residential Income
Square Footage:
4,500
Lot Size (sq. ft.):
3,485
Status:
Closed
Current Price:
$450,000
List Date:
12/23/2024
Last Modified:
3/03/2025
Overview
Description
Listing Details MLS# PM-121017
General Property Information
- Building Area Total
- 4500
- Building Area Source
- Public Records
- Stories
- 2
- Number Of Buildings
- Yes
- Year Built
- 1890
- Basement YN
- Yes
- Parking Total
- 5
- Lot Size Acres
- 0.08
- Sign On Property YN
- No
- List Price/SqFt
- 107.78
- Sold Price/SqFt
- 100
Property Features
Listing Terms:
Cash; Conventional
Disclosures:
Right of First Refusal
Possession:
Close Of Escrow; Negotiable
Laundry Features:
Electric Dryer Hookup; Gas Dryer Hookup; Washer Hookup
Construction Materials:
Vinyl Siding; Wood Siding
Roof:
Flat
Electric:
100 Amp Service; 200+ Amp Service
Cooling:
Wall/Window Unit(s); Electric; None
Heating:
Baseboard; Electric
Appliances:
Water Heater
Security Features:
Smoke Detector(s)
Water Source:
Public
Sewer:
Public Sewer
Parking Features:
Off Site
Lot Features:
Historic District
Road Frontage Type:
City Street
Road Surface Type:
Paved
Road Responsibility:
Public Maintained Road
Contract Information
- Property Sub Type
- Multi Family
- Listing Contract Date
- 2024-12-23
- Listing Service
- Limited Service
Location Tax and Legal
- County
- Northampton
- Street Number
- 507-509
- Street Name
- Delaware
- Street Suffix
- Avenue
- City (Post Office)
- Portland
- State
- PA
- Postal Code
- 18351
- Subdivision Name
- None
Remarks and Miscellaneous
- Public Historical Remarks
- Type: Built as Apartment, Kitchens: SemiMod, Bathrooms: SemiMod, Unit 5 Floor #: 2, Unit 4 Floor #: 2, Unit 3 Floor #: 2, Unit 2 Floor #: 1, Unit 1 Floor #: 1, Miscellaneous: Zoning Code B-Business, Miscellaneous: Cert of Occ Req'd Yes. Unit 1 Floor #: 1. Unit 2 Floor #: 1. Unit 3 Floor #: 2. Unit 4 Floor #: 2. Unit 5 Floor #: 2
- Public Remarks
- Stunning Turnkey Investment Property in Historic Portland This beautifully maintained property offers breathtaking views of the Delaware River and the walking bridge from the second floor. With all units currently rented, this income-producing building features five units in total: three one-bedroom apartments upstairs, a two-bedroom unit on the first floor, and a commercial storefront occupied by a popular chocolate shop. All tenants are long-term and well-established. Recent upgrades include new electrical panel boxes installed in the three upstairs units. Additionally, Unit 2A was fully remodeled in 2022, and Unit 2C underwent renovations when purchased. This property provides an excellent opportunity to add a lucrative asset to your portfolio. Schedule a showing today!
Status Change Information
- Purchase Contract Date
- 2025-01-08
- Close Date
- 2025-02-27
- Close Price
- 450000
More Information
Income and Expenses
- Gross Income
- 56700
- Net Operating Income
- 39912
- Operating Expense
- 16788
- Insurance Expense
- 300
- New Taxes Expense
- 3935.64
- Electric Expense
- 20
- Trash Expense
- 123
Unit 1
- Unit #
- 509 1A
- Occupied YN
- Y
- Actual Rent
- 1100
- SqFt Total
- 1000
- Rooms Total
- 5
- Unit Remarks
- Appliances: all no DW.
Unit 2
- Unit #
- 1B
- Occupied YN
- Y
- Actual Rent
- 475
- SqFt Total
- 1550
- Rooms Total
- 3
- Unit Remarks
- Appliances: N/A
Unit 3
- Unit #
- 2A
- Occupied YN
- Y
- Actual Rent
- 1100
- SqFt Total
- 650
- Rooms Total
- 4
- Unit Remarks
- Appliances: See pictures
Unit 4
- Unit #
- 2B
- Occupied YN
- Y
- Actual Rent
- 875
- SqFt Total
- 650
- Rooms Total
- 4
- Unit Remarks
- Appliances: See Pictures
Unit 5
- Unit #
- 2C
- Occupied YN
- Y
- Actual Rent
- 1200
- SqFt Total
- 650
- Rooms Total
- 4
- Unit Remarks
- Appliances: See Pictures
Location, Tax, and Legal
- Parcel Number
- B11SE3C6-14-0127
- Municipality
- Portland Borough
- High School District
- Bangor Area
- Cnty&Muni Taxes (Legacy)
- 965.8
- School Tax Amount
- 2495.72
- Tax Annual Amount
- 3935.64
- Tax Assessed Value
- 43900
- Tax Book Number
- 2022-1/234300
- Zoning Description
- Other
Currently Not Used
- Number Of Units Total
- 5
Listing Terms
- Cash
- Yes
- Conventional
- Yes
Disclosures
- Right of First Refusal
- Yes
Possession
- Close Of Escrow
- Yes
- Negotiable
- Yes
Laundry Features
- Electric Dryer Hookup
- Yes
- Gas Dryer Hookup
- Yes
- Washer Hookup
- Yes
Construction Materials
- Vinyl Siding
- Yes
- Wood Siding
- Yes
Roof
- Flat
- Yes
Electric
- 100 Amp Service
- Yes
- 200+ Amp Service
- Yes
Cooling
- Wall/Window Unit(s)
- Yes
- Electric
- Yes
- None
- Yes
Heating
- Baseboard
- Yes
- Electric
- Yes
Water Heater
- Electric
- Yes
Appliances
- Water Heater
- Yes
Security Features
- Smoke Detector(s)
- Yes
Water Source
- Public
- Yes
Sewer
- Public Sewer
- Yes
Parking Features
- Off Site
- Yes
Lot Features
- Historic District
- Yes
Road Frontage Type
- City Street
- Yes
Road Surface Type
- Paved
- Yes
Road Responsibility
- Public Maintained Road
- Yes
Listing Office:
Realty Solutions of PA
Last Updated: March - 03 - 2025
Information deemed reliable but not guaranteed.
