542 W WALNUT ST new to site Save Request In-Person Tour Request Virtual Tour
Allentown,PA 18101
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,541 sqft
Price per Sqft $148
Subdivision Allentown
MLS Listing ID PALH2012988
Year Built 1895
Annual Tax Amount $6,639
Tax Year 2025
Lot Size 4,500 Sqft
Acres 0.1
Lot Dimensions 30.00 x 150.00
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Welcome to this completely updated, solid brick, 5 unit investment property, with hardwood floors everywhere. Tenants pay gas for heat & cooking, & electric with ceiling fans for cooling. Located across from City Center's new Walnut Street Commons (with an attached parking garage*). These easy to rent apartments have upgraded kitchens, new SS fridges and stoves, counter tops, tile bathrooms, ceiling fans & window blinds. Pride of ownership shows in the clean & well maintained common spaces and quality tenants. Durable carpeting & rubber tread-protectors on the stairs help preserve the original hardwood. Security cameras both inside and outside, plus good exterior lighting add to the attractiveness of this building for tenants. Three new roofs, plus side and rear yards are fenced & locked, and the large fire escape provide a safe exit for all units. Large clean basement runs the length of the building & has access through a rear door under the 1st floor rear unit. Priced at a 7.2% CAP rate using current rents, there is upside in the rents to bring them to market rate. Proof of funds required prior to scheduling a tour. Tour offering times are limited due to schedules. Please call listing agent to discuss. Please do not try to gain access to the building, the yard, or bother the tenants. *The parking deck allows public parking. Check with the Allentown Parking Authority for monthly pass availability.
Location
State PA
County Lehigh
Area Allentown City (12302)
Zoning B-2
Interior
Hot Water Natural Gas
Heating Hot Water,Radiator
Cooling Ceiling Fan(s)
Flooring Wood,Tile/Brick,Marble
Inclusions All appliances owned by the landlord (fridges, stoves, ceiling fans), and window blinds
Heat Source Natural Gas
Exterior
Water Access N
Street Surface Paved
Accessibility None
Road Frontage Public
Garage N
Building
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Allentown
Others
Tax ID 640710902314-00001
Ownership Fee Simple
SqFt Source Assessor
Security Features Exterior Cameras,Intercom,Main Entrance Lock,Security Gate
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Financing Cash,Conventional
Special Listing Condition Standard