4-Unit Brick Apartment
New
For Sale
$850,000
506 W Berwick Street, Easton, PA 18042
Each apartment has its own heat-pump HVAC system and separately metered water and electric service.
Property Size3,816 SF
Price / SF$222.75
Days on Market5
Property Features for 506 W Berwick Street
General Information
Standard status
Active
Size
3,816 SF
Total Parking Spaces
8
Property subtype
Residential Income
Zoning
10BNS
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Individually Metered Utilities
water, electricity
Additional Details
Highway Access
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,302
Amenities
true
4
2
8
Public
5460
0.125
Public Records
Building Details
Year Built
1910
Year Renovated
2015
Buildings
1
Stories
2
Construction
brick
Listing Agency:
(908) 224-5438
Listed By:
Patricia Coene
Source:
Haven
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 2:49PM
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 Patricia Coene
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Investment Insights
Based on property information with market context.
This 3,816-square-foot brick apartment property contains four two-bedroom, one-bathroom units. The apartments were renovated in 2015, and each has a separate heat-pump HVAC system along with individual water and electric meters. An eight-car off-street parking area serves the building. The property was built in 1910 and is zoned 10BNS.
At 506 W Berwick Street in Easton, the property is less than one mile from Interstate 78, with access to Routes 22 and 33.
At 506 W Berwick Street in Easton, the property is less than one mile from Interstate 78, with access to Routes 22 and 33.
Key Highlights
- Four apartments, each with two bedrooms and one bathroom
- 3,816 square feet in a brick building
- All four units renovated in 2015
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,227
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$504,540
$504.5K
Cap Rate 7%
$360,386
$360.4K
Cap Rate 9%
$280,300
$280.3K
Market Conditions
NOI Build-Up for 3,816 SF
Gross rent
$38.9K $10.20/SF
− Vacancy
−$2.9K −$0.76/SF
EGI
$36.0K $9.44/SF
− OpEx
−$10.8K −$2.83/SF
NOI
$25.2K $6.61/SF
Area
Northampton County, PA
Vacancy
7.41%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$504,540
Cap Rate 7%
$360,386
Cap Rate 9%
$280,300
Alternative Uses
Best Use
Multifamily LT 5
$360.4K
$315.3K – $420.5K
NOI $25,227 @ 7.0% cap · market cap 2.97%
Second Best
Apartment 5plus
$331.7K
$290.3K – $387.0K
NOI $23,221 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$723.8K
$633.3K – $844.4K
NOI $50,664 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Explore this area
Business Placement
Demographics for 18042, PA
44,026
Population
17,932
Households
2.5
Avg Household Size
36
Median Age
27%
College-Educated
89%
High-School Grad
22.1 sq mi
ZIP Area
1,992
Density / Sq Mi
$75,806
Median Household Income
$40,015
Median Earnings
$1,245
Median Rent
$205,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Each apartment has its own heat-pump HVAC system and separately metered water and electric service.
Where is this quadplex located?
The property is located at 506 W Berwick Street Easton, PA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four apartments, each with two bedrooms and one bathroom; 3,816 square feet in a brick building; All four units renovated in 2015
