UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 2,208 sqft
Price per Sqft $173
Subdivision Old Frgrnds Historic
MLS Listing ID 779204
Bedrooms 5
Full Baths 3
HOA Y/N No
Year Built 1890
Annual Tax Amount $2,537
Lot Size 1,916 Sqft
Acres 0.044
Property Sub-Type Apartment
Property Description
Discover a compelling investment opportunity in the heart of Allentown with this cash-flowing rooming house offering stable income and attractive returns.
Generating approximately $37,656 in annual gross income and delivering a Net Operating Income of $31,490, this property offers an impressive 8.23% cap rate at the current list price of $382,500. Based on a self-managed ownership model and conservative operating expenses, investors can benefit from strong cash flow and long-term appreciation potential.
Positioned to meet the continued demand for affordable housing options, this income-producing asset presents an excellent opportunity for investors seeking immediate returns with additional upside through principal paydown, tax advantages, and future appreciation.
Conveniently situated near Downtown Allentown, the property offers easy access to public transportation, major employment centers, shopping, dining, and everyday conveniences. The area's ongoing revitalization and continued demand for workforce housing support long-term occupancy and future growth potential.
Whether you're expanding an existing portfolio or acquiring your first income-producing asset, 521 N 6th St presents an opportunity to secure a cash-flowing property in one of the Lehigh Valley's most active rental markets.
Location
State PA
County Lehigh
Area Allentown-Central
Direction From Route 22, take 145 South. Make a Left onto Linden and then a Left onto N. 6th St. Property will be on the right.
Interior
Heating Baseboard, Electric
Cooling None
Fireplace No
Exterior
Parking Features Detached, Garage, On Street
Water Access Desc Public
Garage Yes
Building
Story 3
Sewer Public Sewer
Water Public
Schools
School District Allentown
Others
Senior Community No
Tax ID 640703539721 1
Special Listing Condition None