521 West Walnut Street Active Save Request In-Person Tour Request Virtual Tour
Allentown City,PA 18101
Key Details
Property Type Condo, Commercial
Sub Type Apartment Building,Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 2,564 sqft
Price per Sqft $147
MLS Listing ID 750393
Year Built 1901
Lot Size 2,222 Sqft
Property Sub-Type Apartment Building,Commercial
Property Description
3-unit recently renovated apartment building for rent in desirable downtown Allentown. This building sits in a prime location that is currently being under-utilized. The front building has two units - unit one is a studio/one bedroom apartment that is currently leased, ending mid-April 2025. Unit two is currently month to month. The rear two-story building holds a large garage with separate entrances that is not currently leased. The upstairs unit is set up as an apartment and currently zoned as a commercial unit by the City. It has a tenant and a back-up tenant for the space. This property has great potential to substantially increase its value due to its location, current rents, utility charges and the explosive growth in downtown Allentown. There are a total of four income streams for this property. This is a 9.5 CAP RATE with garage rented and room to grow!
Location
State PA
County Lehigh
Area Allentown-Central
Interior
Cooling Window ACs
Exterior
Garage Spaces 1.0
Utilities Available 220 Volt
Building
Sewer Public
Water Public
New Construction No
Schools
School District Allentown
Others
Financing Cash,Conventional
Special Listing Condition Not Applicable