$400,000
$400,000
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1624 West Walnut Street Allentown City, PA 18102
6 Beds
4 Baths
3,470 SqFt
Key Details
Sold Price $400,000
Property Type Condo
Sub Type Apartment Style,Semi Detached/Twin
Listing Status Sold
Purchase Type For Sale
Square Footage 3,470 sqft
Price per Sqft $115
Subdivision Not In Development
MLS Listing ID 729706
Sold Date 03/11/24
Bedrooms 6
Full Baths 3
Half Baths 1
Year Built 1924
Annual Tax Amount $6,291
Lot Size 4,182 Sqft
Property Description
Property Type: 4 Units (1 Commercial + 3 Residential)
Unit Breakdown: 1 Commercial Space | 1, 3-bedroom | 1, 2-bedroom | 1, 1-bedroom
Renovated Units: 2 Updated with New Paint and Flooring | 1 Unit with Hardwood Floors and Updated Kitchen Countertops
Gross Income: $44,640
Net Income: $31,805
Cap Rate: 7.95% (Excellent for the Area)
Strong Investment Potential
Diverse Income Streams: This property offers a mix of commercial and residential units, ensuring a steady flow of rental income to diversify your portfolio.
Updated Units: Two of the units have been thoughtfully renovated, featuring new paint and flooring, while another boasts hardwood floors and updated kitchen countertops. These upgrades attract high-quality tenants.
Favorable Cap Rate: With a cap rate of 7.95%, this investment outperforms many others in the area, promising an excellent return on your investment.
Prime Location: Allentown's growing economy and strong rental demand make it a strategic location for real estate investment, ensuring long-term appreciation and steady cash flow.
Investment Potential: Unlock the potential for increased income by continuing the renovation of remaining units or optimizing the commercial space to maximize returns.
Location
State PA
County Lehigh
Area Allentown-West
Interior
Cooling No Air
Exterior
Garage Carport
Garage Spaces 2.0
Building
Story 2.5
Sewer Public
Water Public
New Construction No
Schools
School District Allentown
Others
Financing Cash,Conventional
Special Listing Condition Not Applicable
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