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.
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
Owner options
What's special
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#: 729706
Originating 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