Tanglewood Apartments in Bethlehem Sold for Second Time This Year; Latest Price is $1.825 Million for Nine Units as One Investor Group Sells to Another

— Jeff Ward, Lehigh Valley News Briefs

The price of Lehigh Valley housing keeps rising, with the recorded price of one multi-unit property going up about 30% in a little more than six months.

Tanglewood Apartments across from Freedom High School in Bethlehem has now changed hands twice this year.

The nine-unit building at 2066 Chester Road in Bethlehem was sold for $1.825 million. Northampton County property records show that deal being final on Sept. 30.

The building was sold for $1.4 million in March, according to the county. Recorded sale prices do not include all the costs of a purchase.

This time around, Lehigh Valley Private Equity Fund was the seller, and two limited-liability companies based at a private home in Chester County, Pennsylvania, acquired Tanglewood.

Lehigh Valley Private Equity Fund said earlier that its acquisition costs for the first sale this year totaled $1.5 million.

The Lehigh Valley has attracted private equity investors for housing and small businesses. South Bethlehem in particular has drawn the interest of big real estate companies that buy houses and rent them to Lehigh University students.

Tanglewood covers about 10,000 square feet total and has seven two-bedroom and two one-bedroom units, according to the previous owner.