659 Broad Street, Emmaus Boro, PA 18049

Active For Sale

$3,330,000
$3,700,000

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General Information

Residential Income, Commercial
Property Type

1922
Year Built

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 on approximately 0.71 acres (±30,971 SF) with a three-story structure originally built in 1922 with a 2004 addition. Approved for 28 residential units / 34 beds (studio, one- and two-bedroom apartments) under the applicable borough overlay and conditional use framework. The property is vacant and mid-construction. Interior demolition, subfloor and framing are largely complete. Electrical demo and temporary service are in place, and major plumbing has been installed. Existing systems include elevator, sprinkler, and smoke control. Major electrical components are included: new pole, custom meter bank, CT box, apartment panels, service cable, and extensive wiring. New flooring for approximately half of the units is included. Damaged windows have been replaced. Burglar system installed and active. Construction manager and trades available to assist. Buyer to complete renovation and stabilization. Emmaus is a supply-constrained Lehigh Valley submarket with limited new multifamily inventory and high barriers to entry. Minutes to I-78, Route 29, and PA Turnpike (476) with access to Allentown and Bethlehem. Plans and approvals available to qualified buyers. Contact listing agent for details and tours.