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506 Northampton St
Easton, PA 18042 Easton

$1,595,000 USD

Apartments For Sale  •  8,442 SF

Property Details

  • Property Type Apartments
  • Total Building Size 8,442 SF
  • Lot Size 0.06 AC
  • Building Class C
  • Year Built 1900
  • Zoning BRI
36 Transit Score
93 Walk Score

Highlights

Opportunity to Add High-End Finishes for Increased Value. Rental comparables support demand for higher-level finishes in the area.
Renovation of Units Can Increase Rents by 20-25%. Improve Gross Scheduled Rent from $11,320 to $14,050 (based on Sep rental comps, see OM).
Projected 23-29% AAR and 8-9% CoC Return. Finish our business plan by renovating units to capture local demand for high-end fit/finishes.es.
Realistic Renovation Budget of $20-25k per Unit. Pro Forma includes renovations for 4 units and lighter updates for 2 units at $5-10k each.
Existing Lease Schedule Allows for Buyer Flexibility. All leases due for renewal by July 2025, allowing flexibility for buyer.
Located two blocks from the Downtown Easton Circle on Northampton Street.

Public Transportation

AirportDriveWalkDistance
Lehigh Valley International 23 min - 14.1 mi
Daniel Hansen 503-708-3957 Decimal Ventures
Daniel Hansen 503-708-3957 Decimal Ventures