659 Broad St, Emmaus, PA 18049

$2,950,000

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List Price: $2,950,000
Price Change: ▼ $380,000 1783022487
Days on Market: 155
Status: ACTIVE
MLS#: PALH2014714
Lot Size (Acres): 0.71
Year Built: 1922
County: Lehigh
School District: East Penn

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Property Description

Redevelopment opportunity in the Borough of Emmaus with approvals in place for conversion to a 55+ age-restricted multifamily apartment building. Former assisted living facility situated on approximately 0.71 acres (±30,971 SF lot) with an existing three-story structure built in 1922 and 2004. Project supports 28 approved residential units / 34 Beds (studio, one bedroom and two bedroom apartments) under applicable borough overlay/conditional use framework. The property is currently vacant, mid construction. Interior demolition, subfloor and framing are almost entirely complete. Electrical demo and temp service is in place. Major plumbing is in place. Certain building systems and infrastructure components are in place, including elevator, sprinkler system and smoke system control. Major electrical components including new pole, custom meter bank, ct box, apartment panels, service cable, and a large amount of wiring, receptacles, switches and boxes are included. New flooring for half of the apartments is included. All damaged windows have been replaced. Burglar system is installed and active. Construction manager, electrical and hvac contractors and construction crew are available to help complete the project. Buyer to complete renovation and stabilization. Emmaus represents a supply-constrained residential submarket within the Lehigh Valley with limited new multifamily inventory and challenging construction barriers. Property is located minutes from I-78, Route 29, and the PA Turnpike (476), providing regional access to Allentown, Bethlehem, and surrounding employment corridors. Offering presents opportunity for multifamily operator or redevelopment group seeking approved age-restricted housing product in established residential borough setting. Architectural and engineering plans, approval documentation and additional project materials available to qualified buyers. Contact listing agent for details and tour scheduling.

(484) 651-7464

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