$900,000
$1,050,000
14.3%For more information regarding the value of a property, please contact us for a free consultation.
8,400 SqFt
SOLD DATE : 05/31/2022
Key Details
Sold Price $900,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 8,400 sqft
Price per Sqft $107
Subdivision None Available
MLS Listing ID PALH2002552
Sold Date 05/31/22
Originating Board BRIGHT
Year Built 1892
Annual Tax Amount $10,372
Tax Year 2021
Lot Dimensions 30.00 x 110.00
Property Description
Remarks
442 N 5th St has 8 LARGE AND UPDATED 1 bedroom units with a secure and gated parking lot for the tenants. 6 units have been recently RENOVATED with NEW KITCHENS, BATHROOMS,FLOORING, WINDOWS, NEW FRONT DOOR and NEW RUBBER ROOF completed 2021! GROSS INCOME $89220 6% CAP RATE with some units paying below market rent for location. The units are light and bright with high ceilings generous size rooms and good storage. The complex has been well maintained and cared for and shows nicely. 7.3 CAP RATE with MARKET RENTS and units are washer/ dryer capable and could be reconfigured to two bedroom units due to size. The building is located in a very residential part of the city with a playground and park near by and is also close to PPL Center, restaurants, transportation, shopping and schools. SEE VIDEO and schedule a appointment! Proof of funds is required
Location
State PA
County Lehigh
Area Allentown City (12302)
Zoning R-MH
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling None
Flooring Luxury Vinyl Plank
Heat Source Electric
Exterior
Garage Spaces 9.0
Utilities Available Electric Available, Sewer Available, Water Available
Waterfront N
Water Access N
View City
Roof Type Rubber,Shingle
Accessibility None
Parking Type Parking Lot
Total Parking Spaces 9
Garage N
Building
Lot Description Corner
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Allentown
Others
Tax ID 640713024485-00001
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Financing Cash,Conventional,Exchange
Special Listing Condition Standard
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Bought with Sean LaSalle • BHHS Fox & Roach-Macungie
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "