• 1198 Butler St, Easton, PA 18042

For Sale

Office

For Sale

This property is available for sale
0.15
Acres
$850,000
Sale Price
  • Year Built
    1984
  • Total Building Size
    14,000 RSF
  • Overview

    The property is comprised of (9) affordable apartments and (1) market rate unit all of which are two-bedroom configuration with central heat/air conditioning throughout. This property was developed and Placed-In-Serviced in 1995 under the Federal Deposit Insurance Corporation's (FDIC) Affordable Housing Program. It provides housing for Low Income (LI) and Very Low Income (VLI) tenants. There are (7) LI units reserved for tenants who earn 80% or less of the area median income, (2) VLI units reserved for tenants who earn 50% or less of the area median income, and one unit that can be leased at market rent. Rent restrictions, guidelines and compliance information is available through The Affordable Housing Group Inc, the monitoring agency for properties participating in the FDIC Affordable housing program (see www.theaffordablehousinggroup.org).
    The property at 1198 Butler Street must remain in compliance and all designated units affordable through 2034. There is immediate upside potential in turning units to capture tenants that are willing/able to hit rental limits set by The Affordable Housing Group Inc.

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Property Details

Multifamily For Sale

The property is comprised of (9) affordable apartments and (1) market rate unit all of which are two-bedroom configuration with central heat/air conditioning throughout. This property was developed and Placed-In-Serviced in 1995 under the Federal Deposit Insurance Corporation's (FDIC) Affordable Housing Program. It provides housing for Low Income (LI) and Very Low Income (VLI) tenants. There are (7) LI units reserved for tenants who earn 80% or less of the area median income, (2) VLI units reserved for tenants who earn 50% or less of the area median income, and one unit that can be leased at market rent. Rent restrictions, guidelines and compliance information is available through The Affordable Housing Group Inc, the monitoring agency for properties participating in the FDIC Affordable housing program (see www.theaffordablehousinggroup.org).
The property at 1198 Butler Street must remain in compliance and all designated units affordable through 2034. There is immediate upside potential in turning units to capture tenants that are willing/able to hit rental limits set by The Affordable Housing Group Inc.

  • Property Type
    Office
  • Year Built
    1984
  • Sale Price
    $850,000
  • Total Building Size
    14,000RSF
  • Total Acres
    0.15
  • Last updated
    Jul 01, 2020
  • Property ID
    2155831

Landlord's Sales Representatives

  • Logan Winchester
    Accel Commercial RE
     
  • Mark Hay
    Accel Commercial RE