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    20-Unit Multifamily Investment Opportunity Title is generated by Realmo AI

    1563 Old U.S 22, Lenhartsville, PA 19534

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    20-unit property with value-add potential near Lehigh Valley.

    Type:Multifamily
    Property size:
    13,801 SF
    Lot size:
    9.99 Acres
    Price / SF:
    $94/SF
    Added:
    Mar 29, 2024
    Days on Market:
    793
    Last Refresh:
    May 13 at 8:25 pm

    Property Features for 1563 Old U.S 22

    General Information

    Standard status
    Active
    Size
    13,801 SF
    Lot size
    9.99 Acres
    Property subtype
    Multifamily

    Building Details

    Year Built
    1935

    We can help!

    Listing Contact
    Loren Keim

    Listing agent Loren Keim License #PA

    Listing office CENTURY 21 Keim Realtors

    Listing date Mar 29, 2024

    Source Crexi

    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 CENTURY 21 Keim Realtors

    HighLights

    • Over 10% Cap Rate based on current rents and occupancy.
    • 20 Units on almost 10 acres across two parcels.
    • Fully Occupied Residential Units with Leases/Security Deposits in Place.
    • Attractive Mix of Unit Types: 2‑3BR, 2‑2BR, 11‑1BR/Efficiency.
    • New Roofs and Windows on Main Buildings and Commercial Garage.
    • Value‑add potential through rent increases and adding more units (subject to zoning).

    Overview

    This 20-unit property, situated on just shy of 10 acres consisting of two parcels, presents a unique investment opportunity within a short 20-minute commute to the Lehigh Valley. The property includes 2 three-bedroom units, 2 two-bedroom units, and 11 one-bedroom/efficiency units. Additionally, there are 3 storage spaces, a workshop with a garage, and a commercial garage. The property offers value-add and upside potential through rent increases and the potential to add more units, subject to zoning and local municipality approval. All residential units are fully occupied with one-year leases and security deposits in place. The owner is responsible for water, sewer, trash, and common electric. Tenants are responsible for heat (electric), electric, and cable. New roofs and windows have been recently installed on all the main buildings and the commercial garage. The property size is 13801 square feet. The list price reflects a cap rate of over 10% based on current rents and occupancy.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Lenhartsville
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.8594
    Latitude
    40.5748

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    FAQs

    What type of property is this?
    Apartment building - 20-unit property with value-add potential near Lehigh Valley.
    Where is this apartment building located?
    The property is located at 1563 Old U.S 22 Lenhartsville, PA.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: Over 10% Cap Rate based on current rents and occupancy.; 20 Units on almost 10 acres across two parcels.; Fully Occupied Residential Units with Leases/Security Deposits in Place.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Loren Keim
    Real Estate License ID: PA
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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