Address
445-447 W Linden Street, Allentown, PA
Price
$ 750,000
Property Attributes
- MLS#PALH2007738
- TypePending
- CountyLEHIGH
- CityAllentown
- AreaAllentown City
- Zip18102
- StyleApartment Building,Professional
- Year Built1890
- Taxes$ 3668
- Price$ 750,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage4560
Data Source:
Bright MLS
Property Description
$75,600 Gross Income, $61,773 Net Income, 8.2% Cap. These prideful owners have invested over $100K to update this cashflowing, fully occupied, 6-unit garden-style apartment building with 5 residential units and 1 long-standing business commercial storefront. 4 units were renovated with fresh paint, new flooring, some new windows, updated bathrooms, and updated kitchens. 3 of the 1BR units are extremely large, and the other two are normal-sized. Long term tenant is in year 2 of a 6 year lease with option to renew. Well maintained roof. Tenants paying all utilities. These are great tenants, have been there for over a year and treat their apartments like a true home. Rare to find this type of property so close to the city center, in downtown with many properties being purchased by out-of-state (NYC) investors. SEE PHOTOS, Property is next to large commercial buildings and is located in downtown Allentown, within walking distance of all attractions, restaurants, and sports games, and near all interstates. The ownership group is listing over 25 multi-family units available in addition to this property. *Seller is a licensed real estate agent. ** PROJECTIONS are over $85,000 with slightly higher rents**
| Price History | |
|---|---|
| 2/17/2024 | Listed $750,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Baseboard - Electric,Radiator |
| Cooling | None |
| Possession | Negotiable |
| Zoning | R-H |
| Construction Materials | Frame,Brick |
| Exclusions | Tenants property |
| Year Built | 1890 |
| Property SubType | Five Or More Units |
| Tax Year | 2022 |
| Percent Ownership | Other |
| Cool Fuel | None |
| Gross Income | 75000.00 |
| OwnerPays | Insurance,Pest Control,Sewer,Taxes - Real Estate |
| Business Type | Apartment Building,Professional |
| Accessibility | 2+ Access Exits |
| County | LEHIGH |
| Net Operating Income | 61772.00 |
| New Construction | No |
| Property Type | Commercial Sale |
| MaintenanceExpense | 1500.00 |
| Water Access Y/N | No |
| Property Use | Investment |
| Status | PENDING |
| Directions | GPS |
| ModificationTimestamp | 2024-03-20T08:36:04 |
| City | ALLENTOWN |
| Buyer Agent Compensation | 2 |
| Total Units | 6 |
| MLS Area | Allentown City (12302) |
| Tax Assessed Value | 111000.0 |
| Waterfront Y/N | No |
| Street Name | LINDEN |
| Tax Annual Amount | 3668.0 |
| Electric Expense | 450.00 |
| Fuel Expense | 0.00 |
| Property Condition | Good |
| Trash Expense | 0.00 |
| Acceptable Financing | Cash,Conventional |
| Association Fee | 0.00 |
| Historic Y/N | No |
| Vacation Rental Y/N | No |
| Virtual Tour | https://drive.google.com/drive/folders/1-uO2I-oioym7w5dLKAUdp41YLWzWZV25?usp=drive_link |
| Days on Market | 34 |
| Standard Status | Pending |
| Year Built Source | Estimated |
| Tax Lot | 9 |
| Total Actual Rent | 75000.00 |
| Cap Rate | 8.50 |
| Buyer Agent Compensation Type | % Of Gross |
| Association Recreation Fee | No |
Interior Features
| Heating Fuel | Electric,Natural Gas |
|---|---|
| Hot Water | Electric |
| Heating Y/N | Yes |
| Street Suffix | STREET |
| Central Air Y/N | No |
| Total Restrooms | 6 |
Exterior Features
| Lot Features | Backs - Open Common Area |
|---|---|
| Water Source | Public |
| Inclusions | All appliances |
| Total Parking Spaces | 10 |
| Type of Parking | On Street,Parking Lot |
| Land Use Code | United States |
| Water View Y/N | No |
| Building Area Total | 0.00 |
| Lot Dimensions | 18.00 x 110.00 |
| Land Assessed Value | 12600.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| Fencing Y/N | No |
| LotDimensionsSource | Assessor |
| Car Parking Spaces | 10 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Pending Average in 18102
Price
Taxes
Visits
Year Built
© BRIGHT, All Rights Reserved
