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Key Details
Sold Price $250,000
Property Type Multi-Family
Sub Type Interior Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 1,539 sqft
Price per Sqft $162
MLS Listing ID PALH2007576
Sold Date 03/29/24
Style Colonial
Abv Grd Liv Area 1,539
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $2,389
Tax Year 2023
Lot Size 1,246 Sqft
Acres 0.03
Lot Dimensions 14x89
Property Description
$31200 gross and $25200 net income over 10% cap rate 2-unit investment property in the Heart of Allentown. Property comes with 100% clear CO from the city of Allentown. 1st floor renovated one bedroom unit with access to the yard will be left vacant form showings. Seller could rent it after there is an agreement. 2nd floor is month to month at $1250 in a large 2-bedroom apartment which can be rented at $1475. The savvy investor can easily exceed these projected numbers The heat and electric are all separated, and you can charge them for water/sewer. Buyer does not need to worry about any city repairs, just get the rents where they can be and have great cash flowing property. Leaving unit vacant has tenants lined up for $1150. People who do not think we can get these rents don't get the market. Great rental market! Come take advantage. Rental in the area do not stay vacant.
Location
State PA
County Lehigh
Area Allentown City (12302)
Zoning R-MH-MEDIUM HIGH DENSITY
Rooms
Basement Outside Entrance
Interior
Hot Water Electric
Heating Baseboard - Hot Water
Cooling None
Heat Source Natural Gas
Exterior
Waterfront N
Water Access N
Accessibility 2+ Access Exits
Parking Type Off Site, On Street
Garage N
Building
Foundation Stone
Sewer Public Sewer
Water Public
Architectural Style Colonial
Additional Building Above Grade
New Construction N
Schools
School District Allentown
Others
Tax ID 549783485071 001
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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Bought with james J Reardon • eXp Commercial
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "