Multi-Unit Development Opportunity in Bethlehem | 10-16 W. Goepp St.

By
Managing Real Estate Broker with Keller Williams Real Estate PA# AB066822 | TN# 344201
https://activerain.com/droplet/5lDg

Over the past handful of years, apartment building construction has beem booming, especially in the Northeast United States.  There has also been a wave of investors renovating former warehouses and other commercial properties into multi-unit dwellings.  In Bethlehem, Pennsylvania, there is strong demand for apartment housing near the Center City area and the nearby colleges (Moravian and Lehigh in particular).  

Our latest listing gives investors and developers the opportunity to turn a mixed-use building with a long, storied history into a modern marvel.  

Another great benefit for developers and investors is that there are two tax savings programs available for the owner:

  1. Local Economic Revitalization Tax Assistance (LERTA).  When a developer improves the property, the tax assessment will go up.  LERTA allows the owner to save on the increase in taxes over a 10 year period.  
  2. Opportunity Zone.  Created by The Tax Cut and Jobs Act of 2017, investors can defer taxes on capital gains by investing that money into property within the Opportunity Zone.  More information can be seen here:  https://www.bethlehemopportunityzone.com/ 

This property is located in North Bethlehem, just a few minutes by foot from Center City Bethlehem and only a few blocks from Moravian College.  There is an initiative called Northside 2027, which is a push to revitalize the Northside Neighborhood.  More infomation can be seen here:  https://www.northside2027.org/

The Lehigh Valley is a growing metropolitan area.  Numerous Fortune 500 companies operate here, and there are major colleges like Lehigh University, Lafayette College, Penn State Lehigh Valley, Moravian College, Cedar Crest College, and others.  Situated within a two hour drive of New York City and a one hour drive to Philadelphia, there are high income jobs in the major cities and also within the Lehigh Valley.

The building at 10-16 West Goepp Street comprises two apartments on the top floor, a large warehouse area on the second level, and two commercial spaces on the ground level.  The zoning is RT - Residential.  Permitted uses include multi-family dwelling, group home, auditorium, bakery, bed and breakfast, artisan's studio, custom printing, club, bank, flea market, funeral home, laundromat, office, recording studio, appliance service, restaurant, shopping center, trade school, or veterinarian office.

This project will require a substantial amount of ingenuity to complete.  We believe the City of Bethlehem would welcome a renovation of this building.

 

Warehouse

 


 

Tai and Amira DeSa of Keller Williams Real Estate used to live near this listing, so we are biased in favor of this great neighborhood!  You can call us at 610-435-1800 (office) or at 484-626-1278 (cell), or send an email to taidesa@kw.com or amiradesa@kw.com.  We love transforming lives through real estate while taking care of our infant twin girls.  #diapersandrealestate  lehighvalley.kw.com/


 

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Topic:
Listings
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Pennsylvania Northampton County Bethlehem
Tags:
real estate investing
investor
bethlehem
opportunity zone
lerta
northside 2027
goepp street

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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Hi Tai,  Congratulations on this great listing.  I am sure you will find an investor or developer to buy this real soon.  

Dec 09, 2019 08:34 PM #1
Rainmaker
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Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

Looks like a great listing! Congratulations and I hope you get an offer soon!

Dec 10, 2019 10:51 AM #2
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Tai DeSa congratulations on this listing, it is an excellent opportunity for the right Buyer.

Dec 14, 2019 06:41 PM #3
Rainmaker
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Richard Weeks
Dallas, TX
REALTOR®, Broker

Congratulations on your new listing.  Nice property and nice job with your presentation.

Dec 15, 2019 02:50 AM #4
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Tai DeSa

Husband and wife team. #diapersandrealestate
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