$640,000
$650,000
1.5%For more information regarding the value of a property, please contact us for a free consultation.
3,184 SqFt
SOLD DATE : 09/09/2024
Key Details
Sold Price $640,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 3,184 sqft
Price per Sqft $201
Subdivision Lehigh Parkway
MLS Listing ID PALH2008738
Sold Date 09/09/24
Style Converted Dwelling
Abv Grd Liv Area 3,184
Originating Board BRIGHT
Year Built 1944
Annual Tax Amount $7,132
Tax Year 2022
Lot Size 6,534 Sqft
Acres 0.15
Lot Dimensions 66.51 x 121.33
Property Description
Here is your chance to own an exceptional and consistently cash-flowing 4-unit property in a quiet neighborhood near Lehigh Parkway. Each unit has been updated over the past few years and is ready for the next investor. The property includes one 4-bed 2-bath single family; two 2-bed, 1-bath apts; and one 1-bed, 1-bath apt in the main building. Income and expenses have been tracked, eliminating any guesswork.
Each unit has been recently updated, NOI is legit 8.73%, and is fully leased. Tenants are responsible for heat (hydronic baseboard), electricity, snow removal, & sanitation/trash. Owner takes care of water/sewer, common electricity, & yard maintenance. (Do not walk the property without an agent.)
This property features three off-street parking spots, new roofs installed in 2010 (main roof) and 2024 (lower shared roof), and new windows 2020. Additionally, it includes two coin-operated laundry rooms that provide extra income. There's potential to further increase revenue by renting out the sectioned-off storage space in the basement. Hardwired IR security cameras offer off-site monitoring, though they have only been used to track misdelivered packages.
The property is within walking distance to Lehigh Parkway Elementary School and Lehigh Parkway Park (southern part of Allentown near Emmaus), and is conveniently close to I-78, making commuting easy for tenants. Photos of each unit were taken before the current tenants moved in. This fully occupied 4-unit property is ready to start generating cash flow for you. (Do not walk the property without an agent.)
Location
State PA
County Lehigh
Area Allentown City (12302)
Zoning R-M
Interior
Hot Water Electric, Natural Gas
Heating Baseboard - Electric, Energy Star Heating System, Zoned
Cooling Ceiling Fan(s), Wall Unit
Flooring Luxury Vinyl Plank, Carpet, Ceramic Tile
Fireplaces Number 1
Fireplace Y
Heat Source Electric
Exterior
Garage Spaces 3.0
Waterfront N
Water Access N
Roof Type Shingle
Street Surface Black Top
Accessibility None
Road Frontage City/County
Parking Type Driveway, On Street
Total Parking Spaces 3
Garage N
Building
Lot Description Corner, Front Yard, Landscaping, SideYard(s)
Foundation Block
Sewer Public Sewer
Water Public
Architectural Style Converted Dwelling
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Allentown
Others
Tax ID 549671671004-00001
Ownership Fee Simple
SqFt Source Estimated
Security Features 24 hour security
Acceptable Financing Cash, Conventional, VA
Listing Terms Cash, Conventional, VA
Financing Cash,Conventional,VA
Special Listing Condition Standard
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Bought with Christopher J Topping • RE/MAX Real Estate-Allentown
“Molly's job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”