Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1890
Sq.Footage
N/A
$75,600 Gross Income, $61,773 Net Income, 8.2% Cap. These prideful owners have invested over $100K to update this cashflowing, fully occupied, 6-unit garden-style apartment building with 5 residential units and 1 long-standing business commercial storefront. 4 units were renovated with fresh paint, new flooring, some new windows, updated bathrooms, and updated kitchens. 3 of the 1BR units are extremely large, and the other two are normal-sized. Long term tenant is in year 2 of a 6 year lease with option to renew. Well maintained roof. Tenants paying all utilities. These are great tenants, have been there for over a year and treat their apartments like a true home. Rare to find this type of property so close to the city center, in downtown with many properties being purchased by out-of-state (NYC) investors. SEE PHOTOS, Property is next to large commercial buildings and is located in downtown Allentown, within walking distance of all attractions, restaurants, and sports games, and near all interstates. The ownership group is listing over 25 multi-family units available in addition to this property. *Seller is a licensed real estate agent. ** PROJECTIONS are over $85,000 with slightly higher rents**
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
NO
-
Cooling
None
-
Heating YN
YES
-
Heating
Baseboard, Electric, Natural Gas
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Frame, Brick
-
Parking
On Street
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Property Type
Commercial Sale
Price
-
Sales Price
$750,000
-
Tax Amount
$3,668
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Sewer
Public Sewer
-
Tax Lot
9
-
Water Source
Public
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Location
County
LEHIGH
Elementary School
Middle School
High School
Listing Courtesy of james J Reardon , eXp Commercial
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Theresa Kehler
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