Welcome to this completely updated, solid brick, 5 unit investment property, with hardwood floors everywhere. Tenants pay gas for heat & cooking, & electric with ceiling fans for cooling. Located across from City Center's new Walnut Street Commons (with an attached parking garage*). These easy to rent apartments have upgraded kitchens, new SS fridges and stoves, counter tops, tile bathrooms, ceiling fans & window blinds. Pride of ownership shows in the clean & well maintained common spaces and quality tenants. Durable carpeting & rubber tread-protectors on the stairs help preserve the original hardwood. Security cameras both inside and outside, plus good exterior lighting add to the attractiveness of this building for tenants. Three new roofs, plus side and rear yards are fenced & locked, and the large fire escape provide a safe exit for all units. Large clean basement runs the length of the building & has access through a rear door under the 1st floor rear unit. Priced at a 7.2% CAP rate using current rents, there is upside in the rents to bring them to market rate. Proof of funds required prior to scheduling a tour. Tour offering times are limited due to schedules. Please call listing agent to discuss. Please do not try to gain access to the building, the yard, or bother the tenants. *The parking deck allows public parking. Check with the Allentown Parking Authority for monthly pass availability.
For sale
$675,000
542 W Walnut St, Allentown, PA 18101
--beds
5baths
4,541sqft
Est.:
Multi Family, Apartment
Built in 1895
-- sqft lot
$-- Zestimate®
$149/sqft
$-- HOA
What's special
Solid brickUpgraded kitchensHardwood floorsWindow blindsLarge fire escapeCeiling fansTile bathrooms
- 82 days
- on Zillow |
- 382 |
- 14 |
Zillow last checked: 7 hours ago
Listing updated: July 29, 2025 at 07:33pm
Listed by:
Carrie C. Ward,
HowardHanna TheFrederickGroup 610-398-0411
Source: GLVR,MLS#: 757173
Originating MLS: Lehigh Valley MLS

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 5
Heating
- Gas, Hot Water
Cooling
- Ceiling Fan(s)
Features
- Flooring: Hardwood
Interior area
- Total interior livable area: 4,541 sqft
Property
Parking
- Parking features: On Street
- Has uncovered spaces: Yes
Features
- Stories: 3
Lot
- Size: 4,486.68 Square Feet
Details
- Parcel number: 640710902314 1
- Zoning: B-2
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family, Apartment
Materials
- Brick
Condition
- Year built: 1895
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Security: Closed Circuit Camera(s), Smoke Detector(s), Fire Escape
- Subdivision: Not in Development
Location
- Region: Allentown
Financial & listing details
- Price per square foot: $149/sqft
- Tax assessed value: $206,300
- Annual tax amount: $6,640
- Date on market: 5/15/2025
- Listing terms: Cash,Conventional
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