Renovated 5-Unit Multifamily
149 W Ridge Street Lansford, PA 18232
New
149 W Ridge Street, Lansford, PA, 18232
$600,000
MULTI_FAMILY - Lansford Boro, PA
Property Size5,300 SF
Lot Size0.07 Acres
Price / SF$113.21
AddedJul 12
Days on Market4
Last RefreshJul 15 at 6:06 am
Property Features for 149 W Ridge Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Zoning
- C
- Bedrooms
- 11
- Bathrooms
- 5
- Rooms
- Bedroom 9, Bedroom 10, Bedroom 11, Bedroom 5, Bathroom 3, Bedroom 7, Bathroom 5, Bedroom 8, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 6, Bedroom 4, Bedroom 3, Bathroom 1
- Parking
- 8
- Interior features
- Balcony
- Standard status
- Active
- APN
- 122A2-24-A14
- Size
- 5,300 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5257
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard, Electric (Heating)
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1929
- Floors in Building
- 3
- Number of units
- 5
- Flooring type
- Hardwood
- Building materials
- Frame, Stone, VinylSiding
Listing agent Joshua Schoenberger (484) 895-9005
Listing office Steel City Realty 2505 Newburg Road, Bethlehem, PA (484) 895-9005
Listing date Jul 12, 2026
MLS# 780415
Listing URL
Copyright © 2026 Greater Lehigh Valley REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This extensively renovated 5-unit multifamily building is configured with two 3-bedroom units, two 2-bedroom units, and one 1-bedroom unit. Apartment interiors were substantially refreshed, including repaired walls and ceilings, fresh neutral paint, mold-resistant coatings, subfloor repairs, durable wood-look flooring, renovated kitchens with updated cabinetry and countertops where required, and renovated bathrooms with new vanities, fixtures, mirrors, toilets, and tub surrounds. Additional improvements include upgraded lighting and outlets and replacement appliances where needed.
Common areas were also improved with fresh paint, durable wall finishes, stair safety upgrades, and added windows for additional natural light. Ownership completed major capital work such as a roof tear-off and replacement, engineer-stamped and city-approved structural repairs with reinforcement to compromised framing, and installation of an air and moisture barrier with insulated vinyl siding. Additional exterior and life-safety improvements include updated energy-efficient windows, new fire-rated entry and apartment doors, upgraded locks and hardware, electrical and plumbing repairs, and a new interconnected smoke-detector system.
The building includes public water and sewer service, electric baseboard heat, separate apartment layouts, and five lined off-street parking spaces. Seller-provided financial information includes projected income and NOI; buyers are advised to verify all figures.
Common areas were also improved with fresh paint, durable wall finishes, stair safety upgrades, and added windows for additional natural light. Ownership completed major capital work such as a roof tear-off and replacement, engineer-stamped and city-approved structural repairs with reinforcement to compromised framing, and installation of an air and moisture barrier with insulated vinyl siding. Additional exterior and life-safety improvements include updated energy-efficient windows, new fire-rated entry and apartment doors, upgraded locks and hardware, electrical and plumbing repairs, and a new interconnected smoke-detector system.
The building includes public water and sewer service, electric baseboard heat, separate apartment layouts, and five lined off-street parking spaces. Seller-provided financial information includes projected income and NOI; buyers are advised to verify all figures.
Key Highlights
- $78,600 gross income with $64,178 NOI and a 10.70% cap rate at a $600,000 asking price (buyer to verify).
- 5‑unit multifamily with a diversified unit mix: two 3‑bedroom, two 2‑bedroom, and one 1‑bedroom unit.
- Total monthly rents are $6,550; all apartments were substantially refreshed with updates including kitchens, renovated bathrooms, flooring, paint, and replacement appliances where needed.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $95.4k | $18.00 |
| − Vacancy | −$6.5k | −$1.22 |
| EGI | $88.9k | $16.78 |
| − OpEx | −$40.0k | −$7.55 |
| NOI | $48.9k | $9.23 |
5,300 SF · lease $18.00/SF/yr · vacancy 6.80% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bougie Bag Bratz
Clothing & Fashion Store
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Extensively renovated 5-unit multifamily with updated interiors, common areas, and five off-street parking spaces.
Where is this apartment building located?
The property is located at 149 W Ridge Street 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: $78,600 gross income with $64,178 NOI and a 10.70% cap rate at a $600,000 asking price (buyer to verify).; 5‑unit multifamily with a diversified unit mix: two 3‑bedroom, two 2‑bedroom, and one 1‑bedroom unit.; Total monthly rents are $6,550; all apartments were substantially refreshed with updates including kitchens, renovated bathrooms, flooring, paint, and replacement appliances where needed.
