How We Turned an Aging Tamaqua Building into an 8-Unit Income Engine
Tucked in the heart of Tamaqua Borough, this 1920s brick building was once a tired, underused structure with the right address, but none of the performance. That changed quickly. We acquired 408 E Broad Street with a full-scale vision: turn it into a fully renovated, income-producing machine that delivers stable, long-term returns.
The Blueprint for Revival
This wasn’t just a cosmetic refresh. We leaned into infrastructure, livability, and long-term value:
Brand-new roof to lock in structural longevity
Restored brickwork and fresh exterior paint
Updated kitchens, bathrooms, flooring, and finishes in all 8 units
All utilities separately metered, with water and electric on tenants
Efficient heating/cooling systems and window A/C units
Low-maintenance setup with strong tenant appeal and lease retention
With a healthy unit mix — four 3-bedroom units and four 1-bedroom units — we created flexible options for working families, professionals, and retirees alike.
The Numbers Behind the Turnaround
Purchase Price: Not disclosed
Gross Income (Actual): $107,100/year
Gross Income (Projected): $122,400/year
Net Operating Income (NOI): $70,810/year
Cap Rate: 8.0% actual | 9.57% projected
Operating Expenses: Just $36,290/year
Occupancy: Fully rented or rent-ready
Tenant-Paid Utilities: All electric + water = low overhead for ownership
This one checks every box: it’s fully stabilized, professionally managed, and positioned in a growing submarket with low inventory and high rental demand.
From underperforming to overdelivering — this is what a smart multifamily play looks like.
Curious how we source and scale opportunities like this? Start here: lvpefund.com/questionnaire