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

1624 W Walnut Street

1624 W Walnut Street, Allentown City, PA

$400,000

HIGHLIGHTS
  • 6 Beds
  • 3 Full Baths
  • 1 Half Bath
  • 4,181 Sq.Ft. Lot
  • 3,470 Sq.Ft. Living
  • 1924 Year Built
  • Pending 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.
Show MoreShow Less
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 Pending
  • Living Area3,470 Sq.Ft.
  • Lot Area4,181 Sq.Ft.
  • MLS® ID729706
  • TypeMulti-Family
  • YEAR BUILT1924
  • School DistrictAllentown

Exterior

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

Financial

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

NOT FINDING WHAT YOU NEED?

Click below to connect to an agent for a custom search.

Contact Us

Follow Us on Instagram