1563 Old Route 22, Lenhartsville, PA 19534
- Motels
- 4,176 SF
- 9.86 lot acres
Current Use by Public Records
- Motels
Property Details for 1563 Old Route 22
- Year built
- 1935
- Construction
- FRAME
- Lot size
- 9.86 lot acres
- Property type
- Motels
- APN
- 5415-12-86-5831
- APU
- 541512865831
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jun 29, 2022 | $220,000 | Maiden Creek Village Property Mgmt | Effective Services LLC | Deed | — |
| Oct 28, 2008 | $335,000 | Effective Services LLC | Gerberich,jeanette L | Grant Deed | $200k · Jeanette L Gerberich |
| — | — | Effective Services LLC | — | Deed Of Trust · related | $30k · Rhoda Benner |
| — | — | Effective Services LLC | — | Deed Of Trust · related | $10k · Arthur Nissen |
Description
This exceptional investment opportunity presents a 20-unit multi-family property ideally located at 1563 Old Route 22, Lenhartsville, PA. The property sits on approximately 9.86 acres comprised of two parcels, offering significant potential for future expansion. A short 20-minute commute to the Lehigh Valley adds to its desirability. The complex boasts a diverse unit mix including two 3-bedroom units, two 2-bedroom units, and eleven 1-bedroom/efficiency units. Three convenient storage spaces are also included, along with a workshop featuring a garage and a separate commercial garage. Currently, all residential units are fully occupied with one-year leases and security deposits in place. Water, sewer, and trash services are covered by the owner, while tenants are responsible for their individual electricity, heat (electric), and cable. Recent upgrades include new roofs and windows on all main buildings and the commercial garage. The asking price of $1,300,000 reflects a cap rate exceeding 10% based on current rental income and full occupancy. The property presents substantial value-add potential through future rent increases and the possibility of adding more units, subject to local zoning regulations and municipal approvals. This is a rare opportunity to acquire a well-maintained, high-performing multi-family property with considerable upside.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Lenhartsville
- County
- Berks
- State
- Pennsylvania
- Longitude
- -75.8834
- Latitude
- 40.5723
- CBSA code
- 39740
- CBSA name
- READING, PA METROPOLITAN STATISTICAL AREA
