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Sold for $400,000 on 03/08/24
  • $400,000

    1624 W Walnut St, Allentown, PA 18102

    6beds
    3,470sqft
    Multi Family, Apartment, Single Family Residence
    Built in 1924
    -- sqft lot
    $452,800 Zestimate®
    $115/sqft
    $1,807 Estimated rent

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    What's special

    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.

    Zillow last checked: 7 hours ago

    Listing updated: March 11, 2024 at 09:24am

    Listed by:

    Jennifer L. DeJesus 610-217-6330,

    Steel City Realty

    Bought with:

    Kevin Azar, RS334236

    RE/MAX Real Estate

    Bob Susko Jr., RS275850

    RE/MAX Real Estate

    Source: GLVR,MLS#: 729706MLS LogoOriginating MLS: Lehigh Valley MLS

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 6
    • Bathrooms: 4
    • Full bathrooms: 3
    • 1/2 bathrooms: 1
    Heating
    • Baseboard, Electric, Gas, Radiator(s)
    Cooling
    • None
    Features
    • Balcony
    • Flooring: Hardwood
    Interior area
    • Total interior livable area: 3,470 sqft

    Property

    Parking
    • Total spaces: 2
    • Parking features: Carport
    • Has carport: Yes
    Features
    • Levels: Two and One Half
    • Stories: 2
    Lot
    • Size: 4,181 sqft
    Details
    • Parcel number: 549657977218001
    • Zoning: R-MH-MEDIUM HIGH DENSITY
    • Special conditions: None

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family, Apartment, Single Family Residence
    Materials
    • Stucco
    Condition
    • Year built: 1924

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public

    Community & neighborhood

    Security
    • Security features: Smoke Detector(s)
    Location
    • Region: Allentown
    • Subdivision: Not in Development

    Other

    Other facts
    • Listing terms: Cash,Conventional
    Sell for more on Zillow
    Get a Zillow Showcase℠ listing at no additional cost and you could sell for .
    $452,800
    2% more+$9,056
    With Zillow Showcase(estimated)$461,856