Listing provided courtesy of BHHS Fox & Roach Macungie - MLS# 735308MLS Provider

1502 Chew StreetAllentown City, PA 18102

Multi-Family · 7 Beds · 7 Full Baths

$650,000 Available

Overview

Time on Site:
12 days
Visits:
3

Invest in a distinguished 5-unit mixed-use building, marrying historical significance with modern living. Property hosts four residential units boasting updated interiors and contemporary comforts'”three 2-bedroom apartments and one 1-bedroom apartment, each with their own unique appeal. All residences are responsible for their electricity. Anchoring this investment is an established commercial space on the ground floor, featuring a popular vegan dining venue, offering eat-in and take-out services. Poised for growth, the property currently has below-market rents, signaling potential for enhanced yield. *GROSS INCOME 81,000*53, 838 CURRENT NET, Its prime location stands out, situated in the historic West End and in close proximity to Muhlenberg College, healthcare facilities, and the Theater District. Residents have immediate access to public transit, diverse retail options, and a variety of eateries. OFFERED AT A 8.3 CAP this is a no brainier. This is an opportunity to secure an asset with both character and untapped financial promise in a vibrant neighborhood !!!!Click on video to view and schedule your appointment!

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08402

Facts & Features

  • Type Multi-Family

General

School Information
  • School District: Allentown
Income/Expenses
  • Other Expense: 1587
  • Gross Income: 81000
  • Net Operating Income: 53838
Building Information
  • Year Built: 1913
Location/Region
  • County Or Parish: Lehigh
  • MLS Area Major: Allentown-West
  • Subdivision Name: West Park Historic
Tax Information
  • CountyTaxes: 979.78
  • MunicipalTaxes: 1440.43
  • SchoolTaxes: 5869.12
General Information
  • MaintenanceRepair: 1587
  • Property Sub Type: Investment Property
  • Property Type: Investment Property
  • PropertySubTypeCategory: Apartment Style,Complex,Mixed Use
  • Special Listing Conditions: Not Applicable
  • TrashRemoval: 1440
  • WaterSewer: 1440
  • Zoning: R-Mh-Medium High Density

Interior

Building Information
  • Gas: 3570
  • Heat: 0
Beds/Baths
  • Bathrooms Full: 7
  • Bathrooms Total: 7
  • Bedrooms Total: 7
General Information
  • Cooling: No Air
  • Electric: 967
  • Heating: Electric, Gas
  • Interior Features: Balcony, Fire Escape, Hardwood, Historic, Patio
  • Stories: 3.0
Unit Information
  • Total Units: 5
  • UnitTotal1Bedroom: 1
  • UnitTotal2Bedrooms: 3

Exterior

Parking Information
  • Parking Total: 0
Lot Information
  • Water Source: Public
Building Exterior/Construction
  • Construction Materials: Brick
General Information
  • Sewer: Public

Neighborhood

Community

18102 (Allentown City) Demographics
30
Median Age
16,327
Population Density (per sq. mile)
14%
College Educated
$34,538
Estimated Median Income
4,970
Estimated Total Home Owners
11,624
Estimated Total Renters
30% / 70%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Monthly Cost

$
$ %
%
$
$
* Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.

Market Data

Based on the last 30 days in this zip code

$204,914
Median Sales Price
$120
Median Price per Square Foot
31
Properties Sold
35
New on Market
62
Average Days on Market
78
Properties for Sale
Calculations provided by Reliance Network

History

Date Event Value Agent
4/3/2024Source: Greater Lehigh Valley MLS Status Change
Available
Paula Meilinger
Listing Agent
4/2/2024Source: Greater Lehigh Valley MLS Added to Database
April 02, 2024
Paula Meilinger
Listing Agent