737 7Th StBethlehem, PA 18015

Property Details for 737 7Th St

Year built

1900

Lot size

0.26 AC

Property size (Sq ft)

5,202 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 7-unit apartment building presents a compelling value-add investment opportunity in Bethlehem, Pennsylvania. Located on East 7th Street, this three-story property, built in 1900, encompasses 5,202 square feet on a 0.257-acre lot and is zoned RM. The asking price is $995,000, representing $142,143 per unit and $191.27 per square foot. The current Net Operating Income (NOI) is $74,173, yielding a 7.45% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $110,140, resulting in an impressive 11.07% pro-forma cap rate. All seven units are configured as two-bedroom, one-bathroom apartments. Most units have recently undergone renovations, featuring updated kitchens and new flooring. Each unit benefits from individual electric, hot water heaters, and boilers. The property's prime location near Lehigh University, the Steel Stacks, and Wind Creek Casino ensures strong rental demand. The rear-facing units offer stunning views of the Steel Stacks, a highly desirable feature for tenants. This fee-simple ownership opportunity provides a strong foundation for immediate cash flow and substantial long-term appreciation. The property's APN is P6SE2D 13 12 0204, P6SE2D 13 11 0204, P6SE2D 13 10 0204.

Location Insight

City

Bethlehem

County

Northampton

State

Pennsylvania

Latitude

40.6067

Longitude

-75.3677

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