34 N 21st St 9 Unit Apartment Building $2,581,120 CAD ($286,791 CAD/Unit) 6.35% Cap Rate Easton, PA 18042

Keller Williams Commercial is Proud to Present the Exclusive Offering of an outstanding Multifamily Real Estate Investment. The buyer for this property earns the right to build wealth three ways: recurring monthly net income streams (cash flow), equity growth through property value appreciation and gradual debt reduction, and the numerous tax benefits associated with owning income producing real estate. The subject property is a 9-unit multifamily property consisting of (8) two-bedroom, one bath units and (1) one-bedroom, one bath unit, each with a private entrance and private, off-street parking. Each unit is approximately 735 SF and there is onsite shared laundry. This property is 100% occupied, it rarely has a vacancy and presents a tremendous value-add opportunity through rent adjustments of $200-$400 per unit per month to match market rents.
Located within the Wilson Area School District – a highly rated public school district according to Niche.com – this property sits adjacent to a baseball field and a local community center, which includes a park, tennis courts and basketball courts. Additionally, this property is half a mile away from Wilson Area High School and retail centers making this an extremely convenient location for tenants – driving sustained rent demand and low vacancy at this property.
This property is in the booming Lehigh Valley, which has a housing shortage. The current housing shortage is fueled by population growth. The population growth and housing shortage has been pushing apartment rent demand upwards. According to the Lehigh Valley Planning Commission there is a current 9,000-unit housing deficiency in the Lehigh Valley and growing demand. According to Lehigh Valley Economic Development Corporation, Lehigh and Northampton counties population growth are in the Top 8% of all counties in the US since 2020. Lehigh County ranks in the Top 5% of all US counties for international migration and Northampton County ranks in the Top 5% of all US counties for domestic migration. This population growth is primarily fueled by the quality of life and career opportunities that the Lehigh Valley offers.
Investment Highlights
• Fully Stabilized: All 9 units leased with security deposits in place.
• Immediate Upside: Under-market rents provide $30k+ annual NOI growth potential
• Prime School District: Located in the Wilson Area School District, a highly rated system that boosts tenant retention and demand
• Off-Street Parking: Marked, dedicated parking spaces for all tenants.
• Attractive Cap Rate Spread: Pro Forma cap rate is 8.3%+
• Suburban Location in High-Growth Market: Population growth and the current housing shortage have created attractive supply and demand dynamics. According to RentCafe, Lehigh Valley ranks as the 2nd most competitive rental market in the US. There are 15 prospective renters for each unit and there is a 96.2% occupancy rate.
The asking price for this outstanding multifamily asset is $1.85 million. The Net Operating Income for this asset is $116,395 with the current owner’s self-managed business model and a 5% assumed vacancy factor. Given the quality of the location, the quality of the property and the tremendous value add opportunity this property presents, the asking price for this asset is an equitable exchange of value for the buyer and the seller.