203 1st St

Attention real estate investors! Here’s your chance to acquire a high-performing, two-parcel multi-family portfolio in Slatington, PA, listed at $1,250,000. 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. Cash Flow: Generates $184,164 in annual gross rent, with a Year 1 net operating income (NOI) of $91,586. 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 $92,578 include property taxes, insurance, and management, common area electric, maintenance, landscaping & snow removal, oil heat, sewer, water, trash. 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: Increasing rents to market rates for an annual gross of $193,372, increasing NOI to $100,800. Cost Efficiency: Reduce the expense ratio by optimizing landscaping/snow removal or billing tenants for sewer, water, & trash. Convert 6 units at 211-215 1st St. to tenant paid electric baseboard heat eliminating the oil heat. This turnkey asset delivers immediate cash flow, a 7.33% cap rate, and a clear path to scale returns.