1624 West Walnut Street, Allentown City, PA 18102
1624 W Walnut Street

1624 W Walnut Street

1624 West Walnut Street, Allentown City, PA

$400,000

HIGHLIGHTS
  • 6 Beds
  • 3 Full Baths
  • 1 Half Bath
  • 4,181.76 Sq.Ft. Lot
  • 3,470 Sq.Ft. Living
  • 1924 Year Built
  • Sold Status
  • 729706 MLS® ID
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.
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Jennifer De Jesus

Jennifer De Jesus

Realtor® / Owner

FEATURES & AMENITIES

Interior

  • Total Bedrooms6
  • Total Bathrooms3.5
  • Full Bathrooms3
  • Half Bathrooms1
  • FlooringHardwood
  • other interior FeaturesHardwood

Area & Lot

  • Status Sold
  • Living Area3,470 Sq.Ft.
  • Lot Area4,181.76 Sq.Ft.
  • MLS® ID729706
  • TypeCondo
  • YEAR BUILT1924
  • School DistrictAllentown

Exterior

  • STORIES2
  • Water SourcePublic
  • sewerPublic Sewer
  • other exterior FeaturesBalcony

Financial

  • Sales Price$400,000
  • Real Estate Tax $6,292/yr
  • Zoning R-MH-MEDIUM HIGH DENSITY RESIDENTIAL

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