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949 N 19th Street

Allentown City, PA 18104
  • $2,299,000
  • STATUS: Available
  • ON SITE: 11 Days
  • MLS #: 701671
UPDATED: 68 min ago
$2,299,000
  • 18
    BEDS
  • 0.11
    ACRES
  • 16
    BATHS
  • 0
    1/2 BATHS
  • 10,660
    SQFT
  • $216
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1930
County:

School Ratings & Info

School District:

Description

Beautiful and solid brick 16 unit apartment property in the west end of Allentown on N 19th Street. The building consists of 3 studios, 11 one bedrooms, and 2 two bedroom apartments. Important to note that 10 of the 16 apartments have been renovated with new kitchens (with granite countertops and stainless appliances), as well as upgraded bathrooms. Solid wood floors exposed and refinished in renovated apartments where available. New electrical service, panels, and electric baseboard installed in all units in 2018. Sidewalks all redone. Current gross income is $207,880 with NOI at $144,129 (accounting for management and maintenance). Proforma gross income is closer to $238,000 with proforma NOI at $171,443. Building is fully occupied with tenants paying under market rent. 10 of the units are Month to Month, so it would be easy for a new owner to increase the rent roll quickly. Very little turnover in this building, as most tenants have been in place for years. Lot of potential!

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© 2022 Greater Lehigh Valley REALTORS® All Rights Reserved. Based on information from the Greater Lehigh Valley REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Smart Way America Realty. Data last updated 2022-10-01T13:12:58.96.
www.smartwayamerica.com/homes/133222139
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949 N 19th Street Allentown City, PA 18104

  • Price: $2,299,000
  • Status: Available
  • On Site: 11 Days
  • Updated: 68 min ago
  • MLS #: 701671
18
Beds
16
Baths
0
½ Baths
0.11
Acres
10,660
SQFT
$216
$/SQFT
1930
Built
Neighborhood:
Not In Development
County:
Lehigh
Area:
Allentown-West
School District:
Allentown
Property Description
Beautiful and solid brick 16 unit apartment property in the west end of Allentown on N 19th Street. The building consists of 3 studios, 11 one bedrooms, and 2 two bedroom apartments. Important to note that 10 of the 16 apartments have been renovated with new kitchens (with granite countertops and stainless appliances), as well as upgraded bathrooms. Solid wood floors exposed and refinished in renovated apartments where available. New electrical service, panels, and electric baseboard installed in all units in 2018. Sidewalks all redone. Current gross income is $207,880 with NOI at $144,129 (accounting for management and maintenance). Proforma gross income is closer to $238,000 with proforma NOI at $171,443. Building is fully occupied with tenants paying under market rent. 10 of the units are Month to Month, so it would be easy for a new owner to increase the rent roll quickly. Very little turnover in this building, as most tenants have been in place for years. Lot of potential!
Exterior Features

Construction Brick Parking None Parking Spaces 0

Interior Features

Baths ModernSemi Modern Cooling Wall AcWindow Ac Features BalconyCentral LaundryHardwoodPatio Heat Type Baseboard

Property Features

Cross Street Address W Livingston Street Electric 975 Gas 1915 Gross Income 207880 Heat 0 Lot Size Source Tax Records Net Income 144129 Operating Expense 0 Other Expenses 12804 Possible Financing CashConventional Property Sub Type Category Apartment Style Sewer Public Special Conditions Not Applicable Square Footage Source Estimated Total Taxes 23748.00 Water Public Water Sewer 5008 Year Built Exception Unknown Zoning Code R-M

Listing provided courtesy of Spade Property Management Inc.: .


© 2022 Greater Lehigh Valley REALTORS® All Rights Reserved. Based on information from the Greater Lehigh Valley REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Smart Way America Realty. Data last updated 2022-10-01T13:12:58.96.
 
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