Building Details

Year Built 1890

Tenancy Multi

Listing Agency: Realty Solutions of Pa

Listed By: Faith Sarisky Show Phone

Source: Jennysoldmine

Added: Jul 26 Changed: Oct 25 Last Checked: Oct 7 at 3:20PM

Report an Issue

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 Realty Solutions of Pa

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This turnkey, income-producing property contains five total units, including three one-bedroom apartments upstairs, a two-bedroom unit on the first floor, and a commercial storefront occupied by a chocolate shop. The building is maintained with documented recent upgrades, including new electrical panel boxes in the three second-floor units, new flooring in the hall, upgraded lighting in the second-floor hallway, and installation of emergency lighting and illuminated exit signs. Additional work includes new electric service at the meter box, sewer pipes in the basement converted to PVC, installed missing GFCI outlets, and handrail and guard rail installations on front and rear/basement steps. Unit 2A was fully remodeled in 2022, and Unit 2C was also remodeled.

The property is described as offering views of the Delaware River and the walking bridge from the second floor, and it is located in Historic Portland.

With all units currently rented and long-term established tenants, the building presents a stabilized residential and retail mix, with approval for a facade improvement grant noted as potentially transferable to a new owner.

Key Highlights

• Income‑producing building with 5 total units: 4 residential apartments plus an occupied commercial storefront
• All units currently rented, including long‑term established tenants
• Residential layout: three 1‑bedroom units on the second floor and one 2‑bedroom unit on the first floor

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,852

Cap Rate

6.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$697,040 $697.0K

Cap Rate 7%

$497,886 $497.9K

Cap Rate 9%

$387,244 $387.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,500 SF

Gross rent

$54.0K $12.00/SF

− Vacancy

−$4.2K −$0.94/SF

EGI

$49.8K $11.06/SF

− OpEx

−$14.9K −$3.32/SF

NOI

$34.9K $7.74/SF

Area

Northampton County, PA

Vacancy

7.80%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$697,040

Cap Rate 7%

$497,886

Cap Rate 9%

$387,244

Alternative Uses

Best Use

Retail

$497.9K

$435.7K – $580.9K (±1% cap)

NOI $34,852 @ 7.0% cap · market cap 6.34%

Second Best

Apartment 5plus

$391.2K

$342.3K – $456.4K (±1% cap)

NOI $27,383 @ 7.0% cap · market cap 4.98%

Theoretical Best

Office A

$853.5K

$746.8K – $995.8K (±1% cap)

NOI $59,746 @ 7.0% cap · market cap 10.86%

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

Current Use

Storefront properties

Suggested Use

Top Pick Big Box & Wholesale Store Butcher Wine and Liquor Store Hotel & Motel Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

18

Businesses Nearby

Explore this area Business Placement

Demographics for 18343, PA

3,819

Population

1,879

Households

2

Avg Household Size

52

Median Age

32%

College-Educated

95%

High-School Grad

20.4 sq mi

ZIP Area

187

Density / Sq Mi

$79,861

Median Household Income

$49,784

Median Earnings

$1,179

Median Rent

$274,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Apartment building - Turnkey building with four residential units and an occupied storefront, all currently rented.

Where is this apartment building located?

The property is located at 507 Delaware Ave Mount Bethel, PA.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: Income‑producing building with 5 total units: 4 residential apartments plus an occupied commercial storefront; All units currently rented, including long‑term established tenants; Residential layout: three 1‑bedroom units on the second floor and one 2‑bedroom unit on the first floor