lansford portfolio 10 units | 7.29% cap rate€¦ · 2 e ridge & 301 e bertsch st, lansford, pa...

Multifamily Property For Sale

DLP • 95 HIGHLAND AVENUE, SUITE 300, BETHLEHEM, PA 18017 • DLPMULTIFAMILY.COM

LANSFORD PORTFOLIO10 UNITS | 7.29% CAP RATE2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

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95 Highland Avenue,Suite 300,Bethlehem, PA 18017 • 610.421.4610 • dlpmult i fami ly.com

TABLE OF CONTENTS2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

Confident ia l i t y & D isc la imer

All materials and information received or derived from DLP its directors, officers, agents, advisors, affiliates and/or any third partysources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property,compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of theproperty, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither DLP its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as toaccuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source,whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence todetermine these and other matters of significance to such party. DLP will not investigate or verify any such matters or conduct duediligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their owninspections and investigations including through appropriate third party independent professionals selected by such party.

All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consultingappropriate independent professionals. DLP makes no warranties and/or representations regarding the veracity, completeness, orrelevance of any financial data or assumptions. DLP does not serve as a financial advisor to any party regarding any proposedtransaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differfrom actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do notnecessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual andgovernmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for theproperty.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certifiedpublic accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regardingthe condition of the property and whether the property complies with applicable governmental requirements should be discussed by theparty with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services aremarketed by DLP in compliance with all applicable fair housing and equal opportunity laws.

3PROPERTY INFORMATION

9LOCATION INFORMATION

13FINANCIAL ANALYSIS

17DEMOGRAPHICS

20ADVISOR BIOS

Contents

1

PROPERTY INFORMATION2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

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PROPERTY OVERVIEW

2 E Ridge Street is located in the heart of the commercial district of Lansford. It’s situated on the corner of Tunnel and Ridge, thelatter of which is the main commercial street. 301 E Bertsch is located on the corner of Chestnut and E Bertsch St in the heart ofthe downtown residential section of Lansford. This portfolio consists of 2 buildings and 10 total units. 9 of the units are residentialand 1 commercial. The commercial unit has the potential to be converted into 2 apartments, bringing the total to 11 residentialunits. Both properties feature great rental history and the apartments are currently 100% occupied. With exceptionally lowoperating expenses and very minor upkeep needed this portfolio can be operated from near or far. Current rents are as much as34% below market value, allowing the future owner to truly capitalize on their investment returns with little effort. A turn-keyproperty and a great piece to start or add to an existing rental portfolio.

PROPERTY HIGHLIGHTS

• 9 Residential Units & 1 Commercial Unit

• Busy Corner Properties in a Downtown Location

• Permanent lit signage

• Walk to shops/restaurant with a Neighborhood feel

• Major Upside

OFFERING SUMMARY

Sale Price: $339,900

Building Size: 4,380 SF

Price / SF: $77.60

Cap Rate: 7.29%

Pro Forma Cap Rate: 15.68%

NOI: $24,790

Zoning: B2 (Ridge) & R2 (Bertsch)

EXECUTIVE SUMMARY2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

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2 E RIDGE STREET2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

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2 E RIDGE STREET2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

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301 BERTSCH STREET2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

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ADDITIONAL PHOTOS2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

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LOCATIONINFORMATION2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

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Lansford, PA

REGIONAL MAP2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

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LOCATION MAPS2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

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AERIAL MAP2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

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FINANCIAL ANALYSIS2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

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INCOME & EXPENSES2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

INCOME SUMMARY LANSFORD PORTFOLIO PER SF

GROSS INCOME $45,360 $10.36

EXPENSE SUMMARY LANSFORD PORTFOLIO PER SF

Electric $1,150 $0.26Maintenance/Vacancy (5%) $2,268 $0.52Trash Removal $941 $0.21Water/Sewer $4,046 $0.92Taxes $7,465 $1.70Permit $450 $0.10Marketing $150 $0.03Insurance $4,100 $0.94

GROSS EXPENSES $20,570 $4.70

NET OPERATING INCOME $24,790 $5.66

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UNITNUMBER

UNITBED

UNITBATH

ANNUAL CURRENTRENT

Ridge Apt 1 2 1 $5,100

Ridge Apt 2 1 1 $4,560

Ridge Apt 3 2 1 $4,500

Ridge Apt 4 1 1 $4,200

Ridge Apt 5 2 1 $5,820

Ridge Commercial

Bertsch Apt 1 1 1 $4,680




$45,360

RENT ROLL2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

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FINANCIAL PRO FORMA2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

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DEMOGRAPHICS2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

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DEMOGRAPHICS REPORT2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

1 MILE 3 MILES 5 MILES

Total households 2,187 5,927 10,140

Total persons per hh 2.2 2.3 2.3

Average hh income $40,732 $41,991 $43,514

Average house value $109,050 $110,628

1 MILE 3 MILES 5 MILES

Total population 4,816 13,611 23,525

Median age 43.0 42.0 42.0

Median age (male) 37.8 38.1 38.9

Median age (female) 45.1 44.7 44.6

* Demographic data derived from 2010 US Census

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* Demographic data derived from 2010 US Census

1 Mile 3 Miles 5 Miles

Total Population 4,816 13,611 23,525

Population Density 1,533 481 300

Median Age 43.0 42.0 42.0

Median Age (Male) 37.8 38.1 38.9

Median Age (Female) 45.1 44.7 44.6

Total Households 2,187 5,927 10,140

# of Persons Per HH 2.2 2.3 2.3

Average HH Income $40,732 $41,991 $43,514

Average House Value $109,050 $110,628

DEMOGRAPHICS MAP2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

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ADVISOR BIOS2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

95 Highland Ave, STE 300 Bethlehem, PA 18017

D. 570.460.3985O. 484.403.0185

[email protected]

BRUCE EATON Commercial Manager & Investment Advisor

Professional BackgroundBruce started in commercial real state and investment property services in 2009. He works with clients to understand their needs and desires and works diligently to achieve their real estate investment goals. He works with both buyers and sellers; additionally Bruce represents landlords and tenants for lease space.

He has sold over $5M in real estate and provided representation in 23 leases in the past 12 months.

As an active buyer of investment property, Bruce understands the challenges to successfully acquiring and managing a profitable portfolio.

He lives in Eastern Pennsylvania with his wife.

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BRUCE EATON BIO & CONTACT2 E R I D G E & 3 0 1 E B E R T S C H S T , L A N S F O R D , P A 1 8 2 3 2

lansford portfolio 10 units | 7.29% cap rate€¦ · 2 e ridge & 301 e bertsch st, lansford, pa...

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