521 West Walnut Street
Allentown City, PA 18101
- 5 beds
- 4 baths
- 2,564 sqft
- 2,222 sqft lot
- $147 per sqft
- 1901 build
3-unit recently renovated apartment building for rent in desirable downtown Allentown. This building sits in a prime location that is currently being under-utilized. The front building has two units - unit one is a studio/one bedroom apartment that is currently leased, ending mid-April 2025. Unit two is currently month to month. The rear two-story building holds a large garage with separate entrances that is not currently leased. The upstairs unit is set up as an apartment and currently zoned as a commercial unit by the City. It has a tenant and a back-up tenant for the space. This property has great potential to substantially increase its value due to its location, current rents, utility charges and the explosive growth in downtown Allentown. There are a total of four income streams for this property. This is CURRENTLY a 9.5 CAP RATE with garage rented and room to grow!
Last checked:
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Last updated Jan 2, 2025
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MLS# 750467 —
The Building
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Year Built:1901
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Construction:Brick
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Stories:3.0
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SqFt:2,564 Sqft
Location
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Area:Allentown-Central
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Cross Street Address:5th Street
The Property
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Property Type:Investment Property
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Property Subtype:Investment Property
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Property Subtype Category:Apartment Style, Detached, Mixed Use
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Zoning Code:B-2-CENTRAL BUSINESS
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Lot Dimensions:17.65x125
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Lot SqFt:2222
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Acres:0.051
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Total Taxes:$5,246.42
Beds
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Bedrooms:5
Baths
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Baths:4
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Full Baths:4
Heating & Cooling
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Heat:No
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Cooling:Window ACs
Utilities
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Water:Public
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Water/Sewer:1600
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Sewer:Public
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Gas:No
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Electric:349
Schools
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School District:Allentown
The Community
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Subdivision:Not in Development
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Association:Lehigh Valley MLS
Parking
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Parking Spaces:1
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Garage:Detached
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
1/2/25
Jan 2, 2025
|
Listed / Active | GLVR | $379,000 |
