Overview

LVPEFUND purchased this 8-unit property as part of its buy and hold, long term acquisitions strategy. The portfolio includes 3 townhouses and one three-story 5 unit building located in a highly sought-after community. Nestled within Pennsylvania’s charming Lehigh Valley is the small, historical city of Easton.

Zoning: MEDIUM DENSITY RESIDENTIAL

Bedrooms: 12

Full Bathrooms: 8

Half Bathrooms: N/A

Size: 6,196 square feet

Units: 8

Breakdown: 4 x 2 Bed 1 Bath Units, 3 x 1 Bed 1 Bath Units, 1 x 1 Bed 1 Bath Unit

Year Built: 1900

Year renovated: 1984

Parking spaces: 6

Buy & Hold

Easton is just a 60-minute drive from two major metropolitan areas, both Philly and New York, which have made the area highly desirable. Within the downtown area, residents enjoy a multitude of shops, restaurants, galleries, and can even visit the Crayola Experience™. The Townhomes sitting to the North contain three 2 bedroom 1 bathroom individual townhomes. The bathrooms and living areas are pristine, with cathedral ceilings, and picturesque spiral staircases.

The 5 Unit Apartment Building located just South is a 2 story structure that contains four 1 bedroom 1 bathroom units plus a 2 bedroom 1 bathroom unit. After 90 days, the fund projects the average rents for this portfolio will increase from $1000/mo to $1450/mo.

The fund projects the gross income to be increased to $140K with a net income of $100K, stabilizing at a 9% cap rate with 14% - 16% cash on cash. The fund will renovate the exterior, common areas, and all residential units. The fund intends to hold this property. Click here to request our offering memorandum for asset financials.

Businesses are flocking to Easton, as development projects are bringing more residents to the city. The Seville just opened, and the Confluence, Commodore and Marquis are among the several others in the works. More than 1,000 apartments are currently being constructed, meaning there's going to be a lot more foot traffic downtown. New businesses, and businesses that are expanding, are taking advantage of that influx of people.

Learn How You Can Co-Own This Property With Us