$2,950,000
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.
772499
MLS
659 Broad St, Emmaus
