$74,900

1754 Genoa Street, Bethlehem City, PA 18018

  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1915
  • Property Lot Size Icon2,570sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 15 days ago

Property Description

Highest/best 10/26 5 PM. NOT pragmatically convertible to residential. Parking/Storage (indoor/outdoor) on gated/fenced/paved enclave in quiet residential Rosemont section of W. Bethlehem. Unique opportunity to own productive asset for self-use or income generation. What you’re buying: 2 garage bays (top over bottom) and big paved parking pad for 8 +/- vehicles. If buyer wants, a long-term lease for 1 additional garage bay (lower right) - is transferable for 7 more years @ $75/mo. Upper left garage owner is the Landlord. Afterwards, owner of that garage unit has a recorded permanent easement to access the unit if a lease extension does not transpire. The value proposition here is akin to income producing storage units, where demand is persistently robust nationwide. Per ChatGPT, the average rent for a 10x10 (100SF) non-climate controlled unit in the Northeast is $130-$180/mo. Our bays are 162 SF. 10-15% of households in the Northeast rent storage units. For those who drive the Lehigh Valley, you can’t miss the robust construction of storage facilities. Genoa complex offers (a) affordable ownership for cash buyers with future appreciation potential and (b) easy ingress/egress in accessible neighborhood convenient to major roadways in a high-density metropolitan area where demand for storage space is strong. Pro-forma rents/expenses cap rate of + 10% on this curated property assemblage, which is economically impossible to duplicate/reproduce from a cost/location perspective.

Listing Status:
Active
Listing Office:
Realty 365 : (610) 437-0900
MLS ID:
766566
  • A/C: None
  • Heating: None
  • Parking: DrivewayOff StreetParking GarageParking LotParking spaces: 11
  • General: Stucco2
  • Originating MLS: HIGH_LHI
  • School District: Bethlehem
  • County: Lehigh
  • Zoning: RS6417895
  • Utilities: Sewer Not AvailableWater Not Available
  • Water: None
  • Sewer: None
  • Source: HIGH_LHI

This listing courtesy of Realty 365

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

C

Calypso Elementary School

1021 Calypso Ave, Bethlehem, PA, 18018

Grades KG-5

0.80 miles away

N

Nitschmann Middle School

1002 W Union Blvd, Bethlehem, PA, 18018

Grades 6-8

0.53 miles away

L

Liberty High School

1115 Linden St, Bethlehem, PA, 18018

Grades 9-12

1.91 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.