530 High St Bethlehem, PA 18018

Listing agency DLP Realty

Listed by Bruce Eaton · License #PA RS316181

Source Crexi

Added: Apr 11 Updated: Jul 21 at 7:33AM Checked: Jul 21 at 7:33AM

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Investment Insights

Based on property information with market context.

530 High St is a 21-unit multifamily building in downtown Bethlehem, PA, with a unit mix of 18 one-bedroom apartments, 2 two-bedroom apartments, and 1 studio, plus 12 separate garage units. Heat, water, and sewer are included for tenants, while tenants are responsible for electric. The property also includes a coin-operated laundry facility and a security system with remote-access cameras.

Since the current ownership, renovation work has been completed in 19 of the 21 units, including modernization of kitchens with new appliances and cabinetry and replacement of flooring, including some new hard-surface finishes. Additional capital improvements include converting the heating system from oil to gas, reducing heating costs by over 60%. The building is currently 100% occupied, with annual turnover below 20%, and has maintained high occupancy while showing YOY rent growth of 5–7%. Renters in 19 of the apartments have passed criminal background checks and meet credit and rental history requirements, with income requirements of over 3 times monthly rent.

Key Highlights

• 21‑unit multifamily in downtown Bethlehem, PA: 18 one‑bedroom, 2 two‑bedroom, and 1 studio apartment plus 12 separate garage units
• Garage units add extra revenue and are described as in high demand in the market
• Heat, water, and sewer are included; tenants pay electric

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FAQs

What type of property is this?

Apartment building - 21-unit multifamily with 12 garage units and coin-operated laundry; heat, water, and sewer included.

Where is this apartment building located?

The property is located at 530 High St Bethlehem, PA.

What are key features of this property?

This property features: 21‑unit multifamily in downtown Bethlehem, PA: 18 one‑bedroom, 2 two‑bedroom, and 1 studio apartment plus 12 separate garage units; Garage units add extra revenue and are described as in high demand in the market; Heat, water, and sewer are included; tenants pay electric