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$400,000

  • Sold
  • Closed
  • Apartment
  • 6 Beds
  • 3 Full Baths
  • 1 Partial Bath
  • 3,470 Sq. Ft.
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Property Type: 4 Units (1 Commercial + 3 Residential)Unit Breakdown: 1 Commercial Space | 1, 3-bedroom | 1, 2-bedroom | 1, 1-bedroomRenovated Units: 2 Updated with New Paint and Flooring | 1 Unit with Hardwood Floors and Updated Kitchen CountertopsGross Income: $44,640Net Income: $31,805Cap Rate: 7.95% (Excellent for the Area)Strong Investment PotentialDiverse 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.

Full Property Details for 1624 West Walnut St

General

  • Sold For: $400,000
  • Taxes: $6,291
  • Status: Closed
  • Type: Apartment
  • Source: Lehigh_Valley
  • MLS ID: 729706
  • Added to Site: 826 day(s) ago

Rooms

Bathrooms

  • Total Bathrooms: 4
  • Full Bathrooms: 3
  • Half Bathrooms: 1

Bedrooms

  • Total Bedrooms: 6

Exterior

  • Exterior Features: Balcony, Hardwood

Parking

  • Parking: Carport

Location

  • Area: Allentown-West
  • County: Lehigh
  • Subdivision: Not in Development

Community

  • Home Owners Assn.: Lehigh Valley MLS

Heating & Cooling

  • Cooling Type: No Air

Utilities

  • Sewer: Public
  • Water: Public

Structural Information

  • Construction: Stucco
  • Square Feet: 3,470
  • Year Built: 1924

Lot Features

  • Lot Size (Acres): 0.096
  • Lot Size (Sq. Ft.): 4,182
  • Lot Size Source: Tax Records
  • Zoning: R-MH-MEDIUM HIGH DENSITY RESIDENTIAL

Financial Considerations

  • Tax Amount: $6,291.92

Disclosures and Reports

  • Special Conditions: Not Applicable

Listed by Steel City Realty
Sold by RE/MAX Real Estate and RE/MAX Real Estate

Listing agent

— 1624 West Walnut St —

  • Steel City Realty

Get Pre-Approved Today

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with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 1624 West Walnut St

School District:Allentown City School District
NameGradesDistance
Union Terrace El School
1939 Union Street, Allentown, PA 18104
K-50.3 mi
Francis D Raub Middle School
102 South Saint Cloud Street, Allentown, PA 18104
6-80.2 mi
William Allen High School
106 N 17th St, Allentown, PA 18104
9-120.3 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1624 West Walnut St

Date
Details
Price
Change
Source
3/08/2024
Sold
$400,000
—
MLS
12/30/2023
Listed
$400,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by Steel City Realty
Sold by RE/MAX Real Estate and RE/MAX Real Estate

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1624 West Walnut Street, Allentown City, PA 18102 (MLS# 729706) is a Apartment property that was sold at $400,000 on March 08, 2024. Want to learn more about 1624 West Walnut Street? Do you have questions about finding other Apartment real estate for sale in Allentown City? You can browse all Allentown City real estate or contact a Coldwell Banker agent to request more information.