211 – 215 1st St, SLATINGTON, PA 18080 (MLS # PALH2011462)

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Price $1,450,000 Status Active Size 6,300 sqft Lot Size 1,743 sqft Days on Market 2

Attention real estate investors! Here's your chance to acquire a high-performing, two-parcel multi-family portfolio in Slatington, PA, listed at $1,450,000. This cash-flowing property on the Corner of 1st St and E. Church St. includes 12 units across two properties"”211-215 1st St (6 units) and 203 1st St (6 units)"”offering immediate returns and substantial upside potential. With an estimated (ARV) of $1,750,000, this is a rare opportunity to secure instant equity. Cash Flow: Generates $184,164 in annual gross rent, with a Year 1 net operating income (NOI) of $83,114. Below-Market Rents: Current rents average $1,279/unit/month, while local comps suggest $1,342-$1,550/unit/month. Raising rents by 5%-10% could increase gross rent to $193,372-$202,584 annually, boosting NOI by $9,208-$18,420 with no added costs. Annual expenses of $91,842 include property taxes ($20,987), insurance ($14,669), and management (8%, $13,996). common area electric ($1,800), maintenance @ 6% ($11,050), landscaping & snow removal ($10,596) oil heat ($6,000), sewer, water, trash ($12,744). Property Details: 211-215 1st St: 6-unit, 3-story low-rise (6,300 sq.ft., built 2001) with oil heating and public water/sewer. Lot: 62x80 (4,960 sq.ft.). 203 1st St: 6-unit residential conversion (6 apts, 6,302 sq.ft. total, built 1875) on a sprawling 33,000 sq.ft. lot Features a garage for extra income potential. Upside Opportunities: Revenue Growth: Push rents to market rates for an annual gross of $193,372, driving NOI to $100,794. Cost Efficiency: Reduce the 52.5% expense ratio by optimizing landscaping/snow removal ($10,596) or sewer/water/trash ($12,744) billing tenants (RUBS). Convert 6 units at 211-215 1st St. to tenant paid electric baseboard heat eliminating the oil heat ($6,000). This turnkey asset delivers immediate cash flow, a 5.7% cap rate, and a clear path to scale returns.

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Data last updated: 4/3/25 1:49 PM PDT

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