Renovated 5-Unit Apartment
For Sale
$600,000
149 W Ridge St, Lansford, PA 18232
Income-producing residential property with a balanced unit mix, updated building systems, and off-street parking.
Property Size5,300 SF
Price / SF$113.21
Days on Market47
Property Features for 149 W Ridge St
General Information
Standard status
Active
Size
5,300 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Net Operating Income
$64,178
Financials
Asking Price
$600,000
Cap Rate
10.7%
Gross Income
$78,600
Units
Unit Mix
2 x 3BR, 2 x 2BR, 1 x 1BR
Multifamily Units
5
Building Details
Year Built
1910
Listing Agency:
Steel City Realty
(484) 895-9005
Listed By:
Jennifer de Jesus · License #RM423820
Source:
Nepahousehunt
Added: Jul 14
Changed: Aug 28
Last Checked: Aug 28 at 12:23PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Steel City Realty
Investment Insights
Based on property information with market context.
This 5-unit apartment building contains two 3-bedroom units, two 2-bedroom units, and one 1-bedroom unit within approximately 5,300 square feet. Originally built in 1910, the property has undergone extensive improvements spanning the roof, structure, electrical and plumbing systems, windows, siding, unit interiors, and fire-safety features. Five off-street parking spaces serve the building.
Located at 149 W Ridge St in Lansford Boro, Pennsylvania, the property is configured as an income-producing residential asset with a 10.70% cap rate reported in the listing data. The varied unit mix provides a combination of larger and smaller apartments within one renovated building.
Located at 149 W Ridge St in Lansford Boro, Pennsylvania, the property is configured as an income-producing residential asset with a 10.70% cap rate reported in the listing data. The varied unit mix provides a combination of larger and smaller apartments within one renovated building.
Key Highlights
- 5‑unit apartment building with two 3BR, two 2BR, and one 1BR units
- Approximately 5,300 square feet in a building constructed in 1910
- Extensive improvements include roof, structural, electrical, plumbing, windows, siding, and interiors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,902
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$978,040
$978.0K
Cap Rate 7%
$698,600
$698.6K
Cap Rate 9%
$543,356
$543.4K
Market Conditions
NOI Build-Up for 5,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$95.4K $18.00/SF
− Vacancy
−$6.5K −$1.22/SF
EGI
$88.9K $16.78/SF
− OpEx
−$40.0K −$7.55/SF
NOI
$48.9K $9.23/SF
Area
Carbon County, PA
Vacancy
6.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$978,040
Cap Rate 7%
$698,600
Cap Rate 9%
$543,356
Alternative Uses
Best Use
Apartment 5plus
$698.6K
$611.3K – $815.0K
NOI $48,902 @ 7.0% cap · market cap 8.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.04M
$911.1K – $1.21M
NOI $72,886 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
Explore this area
Business Placement
Demographics for 18232, PA
4,222
Population
2,129
Households
2
Avg Household Size
38
Median Age
12%
College-Educated
81%
High-School Grad
2.1 sq mi
ZIP Area
2,010
Density / Sq Mi
$44,078
Median Household Income
$34,802
Median Earnings
$963
Median Rent
$48,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Income-producing residential property with a balanced unit mix, updated building systems, and off-street parking.
Where is this apartment building located?
The property is located at 149 W Ridge St Lansford, PA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 5‑unit apartment building with two 3BR, two 2BR, and one 1BR units; Approximately 5,300 square feet in a building constructed in 1910; Extensive improvements include roof, structural, electrical, plumbing, windows, siding, and interiors
