Neighborhood: Allentown-central, Not In Development
6 unit multi-family fully occupied Turnkey $71,400 gross 60,000 NET. 7.00% CAP rate @ $870K asking. Projected 84k gross 72k net 8.2% cap when rents are raised to market rents. Since the pandemic rents were not raised and all can go up. This is a well maintained 6-unit property on a very busy street in Allentown. It consists of 2 commercial units, 4 apartments, and a two-car garage that brings in 150$/mo. These stores take care of any repairs needed and common area maintenance. These are great Tenants / pleasant and very cooperative. Tenants pay for everything except taxes, insurance, common electric, and water/sewer which Landlord pays for. There is no trash bill on this property. Existing leases are yearly and Landlord will not be renewing any of them. This Property has several amenities within a one mile radius. The owners will order the City CO, there should not be many if any repairs. This is an as-is sale. NOTHING to do but purchase and collect the rents. Must see VIDEO/DRONE.
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Courtesy of: EXP Realty LLC Listing information provided courtesy of the Greater Lehigh Valley REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 13th June, 2021 4:41 AM
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