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$425,000
Est. payment /mo
5 Beds
3 Baths
2,260 SqFt
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 2,260 sqft
Price per Sqft $188
Subdivision Not In Development
MLS Listing ID 770793
Bedrooms 5
Full Baths 3
HOA Y/N No
Year Built 1890
Annual Tax Amount $2,426
Lot Size 2,570 Sqft
Acres 0.059
Lot Dimensions 2,260
Property Sub-Type Apartment
Property Description
Center City Allentown! Here is stabilized three-unit multifamily investment generating a potential of $46641 in gross income and $40,575 in net operating income. The asset consists of two separate structures—a standalone single-family residence at 318 and a detached two-unit building at 320—offering clear operational separation and long-term flexibility.
The unit mix includes two 2-bedroom/1-bath units and one 1-bedroom/1-bath unit. The property is fully occupied, with staggered lease expirations, providing immediate and predictable cash flow. Tenants are responsible for all utilities, including gas heat, electric, and water, with water submetered and billed directly to tenants—keeping landlord expenses minimal and limited to taxes and insurance.
One of the larger units has recently undergone renovation and is positioned to achieve a higher market rent, presenting a clear value-add opportunity. Current in-place rents provide stable income, with additional upside through continued rent optimization in line with market conditions.
Add to your portfolio or start a new one! Allentown is continuing to grow and have great tenancy for investors.
This is an ideal opportunity for investors seeking a low-maintenance, income-producing asset with strong fundamentals, operational clarity, and built-in rent growth potential.
The unit mix includes two 2-bedroom/1-bath units and one 1-bedroom/1-bath unit. The property is fully occupied, with staggered lease expirations, providing immediate and predictable cash flow. Tenants are responsible for all utilities, including gas heat, electric, and water, with water submetered and billed directly to tenants—keeping landlord expenses minimal and limited to taxes and insurance.
One of the larger units has recently undergone renovation and is positioned to achieve a higher market rent, presenting a clear value-add opportunity. Current in-place rents provide stable income, with additional upside through continued rent optimization in line with market conditions.
Add to your portfolio or start a new one! Allentown is continuing to grow and have great tenancy for investors.
This is an ideal opportunity for investors seeking a low-maintenance, income-producing asset with strong fundamentals, operational clarity, and built-in rent growth potential.
Location
State PA
County Lehigh
Area Allentown-Central
Direction 22 to 145 North tt 318 n 7th
Interior
Heating Baseboard
Cooling None, Wall/Window Unit(s)
Fireplace No
Exterior
Water Access Desc Public
Total Parking Spaces 3
Building
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two and One Half
Schools
School District Allentown
Others
Senior Community No
Tax ID 640702301773 1
Special Listing Condition None
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Listed by EXP Realty LLC
Nearby Locations
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Office No. 873 325-41 Chestnut St, Ste 800, Philadelphia, PA, 19106
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