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203 1st
For Sale $1,250,000
$1,250,000
- 12 Units
- Unknown Sq Ft
- 30,492 Sq Ft
- Unknown Cap Rate
Description
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.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $1,250,000 |
| Property Type | Multi-Family |
| Usable Sqft | Unknown |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 1875 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 55621354440900001 |
| MLS # | PALH2011420 |
| Property ID | 321409903 |
| Lot Sqft | 30,492 |
| Zoning | TR |
| Total Units | 12 |
| Days on Market | 74 |
| Original List Price | Unknown |
| Date Updated | June 03, 2025 |
| Date Created | April 01, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | $184,164 | $0 |
| Operating Expenses | $ 92,578 |
| Net Income (Yr) | $ 91,586 |
| Cap Rate | 7.33% |
Listing Provided By
Douglas Sigafoos an agent of . Lic #RS352831
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Data last updated: June 14, 2025.
Robert Crawford
REAL ESTATE AGENT