Contacts
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Property Details
- Property Type Other
- Units 21
- Additional Rent Contact for pricing
- Year Built 2014
- Date Updated Dec 20, 2024
The Dodson Building is a 21-unit luxury apartment community located in Downtown Bethlehem, Pennsylvania. This area is well known as the Historic District of Bethlehem and is highly sought-after due to its close proximity to employers, shops, bars, and fine dining. Originally built in 1915 as a five-story, 32,000 SF corporate office building for the Lehigh Coal & Navigation Company, The Dodson Building was repurposed into a luxury rental community in 2014 by Allied Building Corporation. The property boasts an outstanding unit mix of (57%) one-bedroom units ranging from 703 to 782 square feet, and (43%) two-bedroom units at 1,033 to 1,248 square feet.
The five-story building was repurposed with all new plumbing, HVAC, and electrical. Each unit features high-end finishes with energy-efficient stainless-steel appliances and granite countertops in the kitchens with custom cabinetry and finishes. The bathrooms were renovated with high-end finishes as well. There is a full-size washer/dryer in all two-bedroom units. Tenants are responsible for electricity, heat, and hot water.
The Dodson’s outstanding finishes and premium location result in ±95% occupancy and a strong tenant base. Due to the quality of the product the apartments offer, current rents can be increased upwards of 15% without any needed capital expenditures.
The Dodson Building is a unique opportunity to acquire a high-end residential building in the heart of Downtown Bethlehem. The property offers a new owner the opportunity to increase rents and provide an effective cash-on-cash return with minimal work needed.
Reach out to the broker for more info on lease terms and amenities
Highlights
- Conversion from Office to Apartments: Property Repurposed with New Plumbing, Electrical, and HVAC
- Opportunity to Increase Rents: In-Place Rents are 15% - 20% Below Market with No CapEx Required to Achieve Rental Increase
- Excellent Location: Situated in Highly Sought-After Historic District of Downtown Bethlehem
- Well Constructed: Double Wall Construction and Suspended 5/8" Drywall Ceilings Throughout for Sound Rating
- Premium Finishes: Custom Cabinetry, Granite Countertops, Wood Plank Flooring, and Stainless Steel Appliances
Getting around
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85/100
Walk Score ®
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43/100
Transit Score ®
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63/100
Bike Score ®
Location
- City Bethlehem, PA
- Neighborhood Central Bethlehem
- Zip Code 18018
- Market Allentown Bethlehem
Points of Interest
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ChargePoint
0.27 miles
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Blink
0.28 miles
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Taylor Family Fuel
0.48 miles
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Sunoco
0.55 miles
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Valero
0.60 miles
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Speedway
0.60 miles
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Wawa
0.85 miles
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Shell
0.87 miles
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Gulf
0.88 miles
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Citgo
1.02 miles
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Christian Education Building Parking Lot
0.19 miles
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Walnut Street Garage
0.28 miles
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55 E Broad Street Lot
0.29 miles
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Lot U
0.34 miles
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Steel Ice Center Lot
0.37 miles
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Lehigh Riverport Garage
0.38 miles
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Spring Street Lot
0.40 miles
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Ruins West
0.42 miles
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North Street Garage
0.42 miles
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Lehigh Street Lot
0.42 miles
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Bethlehem Inn
0.18 miles
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Historic Hotel Bethlehem
0.34 miles
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Hyatt Place
0.38 miles
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Comfort Suites
0.56 miles
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The Wilbur Mansion
0.59 miles
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Sayre Mansion
0.62 miles
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Fifth Street Hotel
0.75 miles
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Wind Creek Bethlehem Hotel
0.92 miles
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Candlewood Suites Bethlehem South
1.52 miles
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Holiday Inn Express & Suites
2.62 miles
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C-Town
0.47 miles
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Linden Food Market
0.58 miles
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Ideal Food Basket
0.76 miles
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1053
0.81 miles
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La Favorita
0.81 miles
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Sims Quality Market
0.85 miles
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The Outlets at Wind Creek
0.93 miles
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Price Rite
1.32 miles
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The Fresh Grocer
2.10 miles
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Weis
2.26 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
