434 W Broad St - 434 West Broad Street
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434 W Broad St - 434 West Broad Street
9 Unit Apartment Building Offered at $1,070,500 at a 6.02% Cap Rate in Bethlehem, PA 18018
Investment Highlights
- Highly desirable tenant location within 1/2 of downtown Bethlehem
- Extremely well-maintained Property
Executive Summary
434 West Broad Street is a classically style 9-unit Mixed-Use building located in Bethlehem, Pennsylvania. Located less than ½ mile from the walkable Historic District of Bethlehem, this area is highly desirable due to its proximity to shopping, universities, dining, and key regional employers.
Originally constructed in 1920 and under the current ownership since 1975, this 3-story building has been improved and cared for at a very high level. The property is fully occupied and enjoys a strong unit-mix consisting of two ground-floor commercial units, one 2-bedroom apartment, one studio apartment and five 1-bedroom apartments. The mechanical systems have been maintained consistently as has the structure itself. Tenants enjoy clean common areas, a brightly-lit and immaculate laundry room and a garden-lined rear yard.
The current owners have preferred to provide tenants with a conservative rent structure which includes heat, trash & water/sewer. A new owner will have an opportunity to consider increasing the existing Base and Additional Rental income without capital expenditure.
This is a unique ‘Turn Key’ opportunity presenting a new owner with stability and significant upside in the region’s most sought-after tenant locale
Originally constructed in 1920 and under the current ownership since 1975, this 3-story building has been improved and cared for at a very high level. The property is fully occupied and enjoys a strong unit-mix consisting of two ground-floor commercial units, one 2-bedroom apartment, one studio apartment and five 1-bedroom apartments. The mechanical systems have been maintained consistently as has the structure itself. Tenants enjoy clean common areas, a brightly-lit and immaculate laundry room and a garden-lined rear yard.
The current owners have preferred to provide tenants with a conservative rent structure which includes heat, trash & water/sewer. A new owner will have an opportunity to consider increasing the existing Base and Additional Rental income without capital expenditure.
This is a unique ‘Turn Key’ opportunity presenting a new owner with stability and significant upside in the region’s most sought-after tenant locale
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$117,690
|
$18.54
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,530
|
$0.56
|
| Effective Gross Income |
$114,160
|
$17.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$49,754
|
$7.84
|
| Net Operating Income |
$64,406
|
$10.15
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $117,690 |
| Annual Per SF | $18.54 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,530 |
| Annual Per SF | $0.56 |
| Effective Gross Income | |
|---|---|
| Annual | $114,160 |
| Annual Per SF | $17.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $49,754 |
| Annual Per SF | $7.84 |
| Net Operating Income | |
|---|---|
| Annual | $64,406 |
| Annual Per SF | $10.15 |
Property Facts
| Price | $1,070,500 | Lot Size | 0.09 AC |
| Price Per Unit | $118,944 | Building Size | 6,347 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 6.02% | No. Stories | 3 |
| No. Units | 9 | Year Built | 1920 |
| Property Type | Multifamily |
| Price | $1,070,500 |
| Price Per Unit | $118,944 |
| Sale Type | Investment |
| Cap Rate | 6.02% |
| No. Units | 9 |
| Property Type | Multifamily |
| Lot Size | 0.09 AC |
| Building Size | 6,347 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1920 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 5 | - | - |
| 2+1 | 1 | - | - |
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Walk Score ®
Very Walkable (85)
PROPERTY TAXES
| Parcel Number | 642738649744-1 | Improvements Assessment | $323,300 (2024) |
| Land Assessment | $26,800 (2024) | Total Assessment | $350,100 (2024) |
PROPERTY TAXES
Parcel Number
642738649744-1
Land Assessment
$26,800 (2024)
Improvements Assessment
$323,300 (2024)
Total Assessment
$350,100 (2024)
zoning
| Zoning Code | CI (CI - Limited Commercial) |
| CI (CI - Limited Commercial) |
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434 W Broad St - 434 West Broad Street
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